Peregrine Diamonds Ltd. PGDIF

Motivated sellers today.

[MrBigger]

eom

[ekim]

Very motivated. Someone is actually going to pay JK for his rights today. Probably happier to receive something better than nothing. Agents for US investors are allowed today to start liquidating all the rights that the Americans can't exercise. The agents will then give the money to the US investors less a commission of some sort. Bids continue to build at half penny...so it looks like

[griefman]

And/or motivated buyers...hehe...

[ekim]

At least happy to buy shares at 13.3 cents. The bid at half penny started at 4 million for the few couple of days and has grown and now sits at 8.5 million rights. About 10% of retail rights have changed hands to date and those 8.5 million rights on the bid represent another 5%. LONG...PGD EKIM

[ekim]

 Those 8.5 million on the bid are happy to buy shares at 11.65 cents. 13.3 cents is based on 1 penny rights...not half penny. LONG...PGD EKIM

[mill44]

There are plenty of shares (rights) for sale at 13.3c, as well.

[ekim]

Yeah Mill...there is an arbitrage opportunity right now. Probably not a lot as I assume there isn't actually a lot of depth on the shares at 13.5 and 14 cents. However, buying shares as a CDN..it makes a bit more sense to buy rights...wait 3 days and then phone in and exercise. That time is shrinking rapidly though. LONG...PGD EKIM