Peregrine Diamonds Ltd. PGDIF

Drilling at Chidliak

[ekim]

Since PGD is drilling some 500+ metre holes this year...I thought I would put together some information from the last time they had 2 core drill rigs at site.
Those 2 core drill rigs supported multiple kimberlites/anomalies...so had helicopter support regularly. 2017 program will be much different in that regard.

2010 - A full 7 years ago when BHP was footing the summer program.

This is the first time they will ever have 3 core drill rigs on site at Chidliak.

--> Drilling at Chidliak - past and present

LONG...PGD

EKIM

[justanormalguy]

Great info again Mike.  I'm not a deep drilling guy, when they say a hole is lost, what exactly does that mean?  

[Kidlapik]

Means they cannot progress further with it or they cant recover more information from it. Sometimes it freezes, sometimes it becomes locked, sometimes casings become jammed or the drill wont turn. In the Arctic many times its because its frozen and it wont turn so you cant drill more or pull out. Unforgiving place to work and unfortunately it is common even at shallower depths. I have been on

[Kidlapik]

It is important to understand that recovering information is much harder than just recovering ground. Right now they are drilling holes to shore up what they believe they know. In a mining scenario you dig it and process it not drill through it to recover information. This is a very speculative play in an environment incredibly difficult to drill but all information we have to date is positive.

[justanormalguy]

thanks Kid, i'm still not sure what this means. When you budget such a program, are lost holes common enough that they are built into the budget? And further, is the 3rd drill they are bringing in to make up for the lost holes, or being brought in to expand getting additional information from the original program because the results are much better than expected from Hole 1 and a change in

[ekim]

Remember, they are lacking geotechnical data for the pits. That implies they don't have a whole of drill data in the adjacent country rock...so this is really the first go at drilling a significant quantity of metres through country rock. Based on what we ahve seen, the HQ (larger size), has been more successful then the NQ (smaller size) core drilling.  I believe HQ takes longer to

[mill44]

I think that the discussions after the PEA led the management down on a very narrow path. They are focused on achieving a specific goal. They will put as much data out about CH6 as humanly possible this time. Either that's what is needed to close the deal or was what stopped them from getting a partner.

[ekim]

But what about CH-6's new off spring. 9 year gestation period for it to come to light. If they want to talk about brownfield...they have it. LONG...PGD EKIM

[cicerelli]

Yes, what about the new member of the brood, indeed! 

[teddygva]

PGD is a 20 bagger at least. As Robert Friedland says, you will need a telescope to see how high the price will go.

[PGDwhatif]

Are you kidding me. 20 baggers is not what I want and nit even close. Pgd IPO at price of $5  ten years ago. The price should have been in the range of $30 to $40 if everything worked as predict. So $40 / 0.15 = 266.666. I want 266.666 bigger.

[teddygva]

266... You still believe in Santa Claus Where do you think it will go from now?

[ekim]

Take the $5 IPO price. Adjust it for the 5 rights offerings.  Then double it to get a 7% annual return. That target price is probably in the realm of attainable...yet very, very speculative. LONG...PGD EKIM

[ekim]

and for sake of doing the math. 1000 shares at $5 IPO Exercising all rights and warrants equates to 4520 shares @ $2.40 average price. Getting to $4.80 without a big bull market in commodities would be very, very speculative. Getting a partner to do the heavy lifting for building a mine....maybe $2.40 plus some coins may be attainable.  It is still theoretically possible for the original

[Pliesbecky]

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[racer-x]

Drawing a line from the top curve to the new intercept the west wall is expanding 16.5 degrees from vertical yielding 3 times the volume and still open at depth = JACKPOT !!!