Peregrine Diamonds Ltd. PGDIF

Northern news

[ekim]

A couple of key items happening up north.

1 - Imminent collapse/bankruptcy of one of the two companies that ship using the sealift into Iqaluit -- Sealift - Dire

I guess that might mean 1 main shipper only (NEAS) going in and out of Iqaluit until the Deep water port is in (that opens up the world to many shippers). If it is a single monopoly, rates could go up in the mean time...but I suspect they are already sky high until that port gets in anyway.

2  Land Referendum On Monday.

If I interpret correctly, each city of town is voting on whether the City can sell off corporate land to be owned by individuals. I guess everyone leases land right now. I might be off in the details though...so don't quote me.

Could have a stakeholder impact for workers out of Iqaluit that would work at Chidliak.
PGD could eventually own a small chunk of property in Iqaluit. Maybe set up a diamond cutting centre like Yellowknife. (hypothetical of course).

LONG...PGD

EKIM

[k22k22]

One company presently running into Iqaluit is irrelevant, PGD is free to charter any one of several vessel operators on the Easter Seaboard that are capable of shipping materials north.  Nothing prevents them from actually chartering an operator long term for themselves and by doing this they would get a discounted rate.  For something along the lines of startup they could charter an

[Kidlapik]

Just want to point out that NTCL, the shipping company in financial trouble, doesnt operate the regular shipping to Iqaluit or surrounding area. That is done primarily through NSSI and NEAS. NTCL delivers goods primarily to the Western Arctic, not the Eastern.