Peregrine Diamonds Ltd. PGDIF

CAD$1 billion - end goal of winter program?

[ekim]

I think a pre-tax NPV CAD$1 billion (7.5% discount) goal from all the data from the upcoming winter programme is achievable.

--> Details - winter program

Keep in mind, we have already had a bump in rough diamond prices by about 12% since the assumptions used in the July PEA.

LONG...PGD

EKIM

[aea257]

So based on this valuation a share swap with IVN wouldn't be out to lunch?

[mill44]

Are we actually doing a winter program? I am still not sure about that, but I am sure that we don't have 15-17M to pay for it.

[griefman]

Can you say "Captain Obvious"?

[ekim]

The winter program is destined for $15 to $17 million. Mill - You are absolutely right...there is no guarantee that we will be doing the program. If De Beers JVs again..they will be the operator in that case. If PGD gets taken over...well, you can take the we out of us...cause we will own cash instead. IMO, you don't go and advertise the the program to all the northern stakeholders if you

[mill44]

No, you don't, but it seems that PGD's management does not like to do things the regular way. I wonder how would people feel if they saw a doctor with a problem and heard from a neighbour that the doctor intends to do some extra tests to see how bad the situation is.

[griefman]

I must be a little daft, ok a lot daft, because I don't get the doctor analogy except patient confidentiality issues? Maybe the doctor was wondering how ya got some diamonds up yer rear end and wanted to consult with a mining expert like James?

[ekim]

Hey Kodi. If you have a problem with this ANALogy I can help you out. I have a friend -- Dr. Dover that can help you. I think he goes by Ben. LONG...PGD EKIM :)

[mill44]

Hey, I did not know you went to him, too. I met quite a few long term PGD holders in his office.

[griefman]

When the doc looked in your hole Mill, he saw Cudjo doing 1 of 2 things ....

[Silverwhere]

Swung by and talked to Dr Ben again today. He mentioned he is awaiting the colonoscopy results for both F Bros. Promised to share his in-depth findings . . . . in due time. Dirty job . . . . . but he says, in the end, it does pay nicely.

[Kidlapik]

Ekim why do you feel a JV or sale are more likely than either a private placement or another rights offering? I believe a PP is where we are headed. I cant see De Beers or DDC funding this given DDC has relocated its office building and just announced the layoff of 50 staff at Diavik and De Beers recently closed the Snap Lake mine. Seems the Diamond sector is still in cost cutting mode.

[mill44]

I believe that the market would take anything but another rights offering.

[griefman]

If there is a PP the markets hands are tied and not exactly in a position to do anything about it.

[ekim]

Kid, Not implying either or. Too many permutations. Just highlighting those as options where PGD isn't actually running the operation as Mill said was a possibility. I would suspect that PGD will want to bulk up the treasury anyway...so it is not necessarily a 1 off option. I suspect we may see a double whammy...much like the De Beers option and the Robert PP. The Robert PP was supposed to

[griefman]

I kinda disagree Mike, it's not so much the when, at least for me, because we know it's gotta be soon, it's the how, but yes, obviously if they intend to do so, they need the funds, but there is the fact the company has not officially, via a NR, stated the when yet.

[ekim]

Yeah, no news release. I think we have all seem to lean on the NI43-101 disclosure rules of materiality and drillresults, etc. etc. We have to remember that financing or JV or anything like that does not fall anywhere near NI43-101 rules...so all the disclosure, etc. rules that came about because of Bre-X does not apply in this case. However, I believe there are rules for public companies...but

[ekim]

Kid - you are ahead of the news curve. Here is recent article on the Diavik layoffs -- Diavik cuts They refer to the excuse of tough market conditions..but with diamond prices a chunk higher then 10 months ago...why now? Wonder if we could see a Snap Lake type early closure on the mine. Bunder Gone. Snap Lake Gone. Ellendale mine gone. Argyle mine closed at some point between 2018 and

[mrrbc]

Hi Mike, thanks, terrific analysis. How is the traffic over the last few months on the blog? Been a while since I've seen you publish #'s. Thanks...MrRBC

[ekim]

The blog seems to have inherited a robot from the U.S. of A. running Chrome on a Macintosh system over the last 2 or 3 months. So rather then try to guess the numbers, I decided to play with and turned on Google Analytics on the blog about a week or two ago. It gives me more data including city instead of just country. I'll post some graphics after a couple more weeks of data. LONG...PGD