Peregrine Diamonds Ltd. PGDIF

Phase 1 mining Target in TONNAGE not carats

[Kidlapik]

PGD's slide for Phase 1 mining target is not shown in CARATS it is shown in TONNAGE, and they just shored up those tonnage targets in line with their Phase 1 mining targets.

And 0.88cpt with a 10% discrepancy for lower sieve size and a conservative 10% increase due to breakage from the expert reported "10-40% carat loss" posted gives us a grade of 1.05cpt which is in line with expectations. The breakage will scue the first valuation lower as some gem quality diamonds were shattered and 74 diamonds larger than 0.66carats were destroyed. These are below average results granted, nobody can argue that but they are hardly dismal. They also do not present a perfectly clear picture of what CH-7 contains. With 74 diamonds 0.66 being disregarded and several "gem-quality" stones being destroyed it is quite safe to say that the grade and the valuations will be conservative. Meaning what will make it into the PEA will be the very low end of what CH-7 represents. Which will STILL show that this project is incredibly economical, is this going to be a super mine that pumps out 2million carats a year? No but it will be a small scale very profitable operation that has incredible upside potential through its leverage of over 71 kimberlites that next to nothing is known about!

With Robert and Eric on board, CH-7 coming in at carat expectations and a very conservative valuation coming up I am in. Robert has come up with some amazing financial deals in the past and if I wanted anybody to be advising our management at the negotiating table in the mining sector it would be him. 40% of this company, soon to be more, will be owned by the Friedlands. Who knows more about the mining business Cudjo or them?

[mill44]

Don't dismiss everything Cudjo says, Kidlapik. Profitable mine might not translate into nice gains for the investors. You are most likely right about the Friedlands and Cudjo, but for some reason, up until now the only ones to profit from all the time and money spent on the project are the Friedlands.

[Kodiboy]

Not true Mill, I've made a modest profit so far by trading this and Cudjo did because he bragged about making enuff of a profit to buy a new truck by trading it as well...

[Kidlapik]

Please explain to me how the Friedlands have made a profit on this project? Eric is collecting a salary sure but the amount he has put into the company is way behind his salary draw. Robert has only ever put money into this project. How have they profited from PGD so far or are you implying they are shorting the stock along with buying the stock in the Rights offerings?

[Kodiboy]

Kid, thanks for bringing that up, I avoided that question to Mill because then he would think I'm just bashing everything he says...

[mill44]

Kidlapik, I did not say they made a profit. I said profiting. PGD keeps proving up the project and the investors keep losing money. The Friedlands keep increasing their position. 16M shares cost Robert 8M $. The next 8M got him 41M shares. Now 1.7M will get him an other 17M shares, unless he picks more rights up. Just look how incredibly unlucky we are. An abnormally high breackage for the sample

[Kidlapik]

Minus the first private placement we (the shareholders) have been given exactly the same opportunity to purchase shares as has been provided to Robert Friedland. Here is another similar situation. If you do not do it then dont blame Robert for doing it and saying they are profiting when management has given us exactly the same opportunity. If you dont believe in the project/management dont

[mill44]

You are right, Kidlapik. We all get the same opportunity to do what they do. Except having a say in the decisions like sale or privatizing. I would not hesitate to do what they do if there was someone on the board to protect us from them.

[mill44]

The results weren't so bad if you look past the summary report, yet we have to gift the gift away unless we participate. We can blame the market conditions, the commodity rout, whatever, but in the same market SWY did not lose 30% in the last 3 months, neither did SGF. And neither of them had a crucial report coming out during that period. Talk about anticipation rally.

[Kidlapik]

But DDC, KDI, LUC and MPV all did. LUC was saved by one of the largest diamonds ever discovered, DDC only bounced back after some management shake up and MPV is still trading sharply lower than they did when they were JUST starting to build their mine. KDI had legitimately TERRIBLE results from their valuations and is still 5x our market cap. if you look at our assets, look at our

[mill44]

Are you sure? Here is the chart for the last 3 months. https://stockcharts.com/h-sc/ui?s=PGD.TO&p=D&yr=0&mn=3&dy=0&id=p27523899699 I hope the link works.

[mill44]

As you can see, we were doing fine, right up until the financing. What you cannot see on the chart is an anticipation rally before major news. Looking at PGD, you would not guess that results were imminent since November.

[mill44]

My hope is that this rights offering is going to bite them in the behind. It could provide someone a nice opportunity to aqcuire 5-10% of the company. That would get them some control with the board and a say of how the future unfolds from here. We need that.

[Kodiboy]

Mill, you didn't say profiting, you said, the only ones to profit from all the time and money spent on the project are the Friedlands...profit not profiting...