Peregrine Diamonds Ltd. PGDIF

RE:RE:RE:RE:PGD hoping for a bigger takeover bid!

[shneps]

I would think DeBeers basically said unless you prove to us the HG continues to depth the project is too small and we are not interested. PGD proved the HG extension and this was our best offer from. Sad indeed. This is why I sense there is really nobody else at the table. Unless Lucara is not going ahead with their UG at Karowe, I don't see them in any position to be financing both an acquisition that needs lots of financing and a slightly questionable UG in Africa. They also have 400+ million shares and just finished financing Clara. Which currently is not making any money and needs to be proven. Rio and DD are really the only ones and Rio's putting money into Orion which if it pans out will need a ton of money and years of stripping before ever making any ROI. It's not pretty. Now that all the 23.5c asks have basically dried up the only next move is tapping into the 24c's. If that starts happening, in volume, anybody selling is a fool. Again, we can only hope. Cheers