Peregrine Diamonds Ltd. PGDIF

xDeBeers

[Silverwhere]

With all due respect xDB, and please correct me if Im wrong, I believe many discoveries (and mines) have come to fruition on properties which have been explored by others before. For whatever reason, whether it be exploration budget constraints, missed-it-by-that-much horizontally and/or vertically, wrong angle, just plain vanilla bad luck (am sure you can list off a top twenty other reasons), prior exploration attempts fail, and for some reason future newbies and/or oldies are luckier. This is, after all, a game of chance. Just ask Robert Friedland about patience and dogged determination in Mongolia. See Early Encounters, Western Interest, including Ivanhoes Breakthrough; summary here . . . . . https://blogs.ubc.ca/mongolia/2016/oyu-tolgoi-discovery/ . . . . . . . The company completed 109 drill holes by September 2000, with encouraging results. Ivanhoe subsequently opened a major office in Ulaanbaatar under the name of Ivanhoe Mines Mongolia Inc (IMMI). HOWEVER, 149 drill holes were completed before the projects eureka DISCOVERY hole, OTD-150, was drilled in in Southwest zone of the Oyu Tolgoi area in July 2001. Some want people to believe the world is still flat. The fact of the matter is this: resolute EXPLORERS have disproved this old thesis, and a better life goes on, thank you very much. So xDB, did your team do absolutely everything in their powers, did you punch 150 deep holes like IVN for instance? Probably not. You most likely have a prudent and frugal budget to snoop around, relatively speaking, as far as your prelim work pertaining to an early stage of a longer term diamond exploration process. Will others after you crash and burn? Maybe. Can someone in a future exploration program get lucky? Maybe, maybe not. But to say diamonds will absolutely NEVER be found is a stretch, no? Again, correct me if Im wrong. I am not a geo expert. You are? Thanks in advance.

[Silverwhere]

From the Aug 04, 2016 PGD NR . . Peregrines Sikwane prospecting licence PL272/2015 covers 453 km2 and contains nine kimberlites discovered through percussion and limited core drilling by De Beers in 1997. This previous work recovered diamonds from surface samples and from down-hole samples at the Sikwane kimberlites, although diamond abundance and size distribution data are not available. . . . .

[ekim]

Ban on sikwane exploration for what? A decade? Two decades? Up until early 2015 when exploration permits opened up. 1997 also had poor infrastructure and electricity. Dependent electricity didn't come until 2007. Inflation adjusted....pgd probably is doing exploration much cheaper than de beers had. Why and when was exploration banned? A lot of questions that are mostly irrelevant. Once de

[cudjo]

Small to medium leftovers does not justify spending a million bucks when you have money to spend on potential economic targets on Baffin.  Remember for every one explorer who goes over old ground and finds a few bones, there are hundreds that are left on the dead pile of junior exploration companies, total waste of capital in this juniors timeline.  Move on

[Silverwhere]

the eggspurt has spoken LOL

[greex27]

I feel like PGD needed a story to jump to if the reason that they created PGX came to fruitiion. I suspect they had reason to look at Botswana if only because an opportunity had presented itself and they needed a place to go next. I certainly wasn't excited about the timing or spending the money on exploration outside of Chidliak however I did feel that if PGD was going to be moved off of

[xDeBeers]

OK if I have to agree with the rabid dog [movie reference] one more time, I am going to become psychotic. Yes the odds are the key. I can't recall any exploration plays where De Beers walked away from a really good if not world class diamond mine. In the cases that we did, we either got the supply of diamonds from that mine anyway, or did so due to geopolitical reasons. We did not miss

[Silverwhere]

Thanks xDB. One more question . . . You do have the coordinates for those 2 Western pipes squirrelled away? No need to answer publicly.

[Kodiboy]

Seems to me the right move for me, since I am in the green with PGD, is to liquidate a non performing dead stock right now, and put some of into SWY for a couple of years or so, maybe longer. Just my thoughts, but I'm tired of this companies lack of concern for its retail SH like we are just ticks hanging on until someone picks us off and squashes us like the little bugs we are. I've

[racer-x]

When PGD announced the Botswana exploration at the same time an article in WSJ announced DeBeers decided to go back to Botswana so I always assumed PGD was acting for DeBeers somehow am I wrong?

[racer-x]

They must be sharing the same driller with DeBeers who is also drilling targets for DeBeers in Botswana at the same time, only cost PGD $200k?

[xDeBeers]

@silverwhere there are a few answers to your question, and Ekim has touched on one of them. It is of course possible that PGD will find a small marginal deposit at Sikwane. But De Beers does not walk away from world class deposits (unless they are in war torn Africa). So if PGD finds something in Botswana, it will be small, or low grade or both. Or dolerite.