Peregrine Diamonds Ltd. PGDIF

DE BEERS on smaller mining

[NUman2014]

DE BEERS is reviewing its approach to the development of smaller mining projects as the diamond giant considers its future strategy in a situation where there have been no major diamond discoveries in the past 30 years. Brown last year spelt out the differences in the way De Beers does things and how a junior must operate, commenting: It requires a totally different mindset and it helped me greatly that, in De Beers, I was never known as a big spender. There were other words used to describe me none of them complimentary. You have to drive the overhead out in fact, not start with it. De Beers and Anglo are huge. Its governance and its oversight and its reviews. Thats not to say the De Beers way is wrong but a junior cannot afford this. The junior has to do it right the first time. https://www.miningmx.com/special-reports/mining-yearbook/mining-yearbook-2017/30422-cleaver-aims-return-de-beers-new-mine-development/

[ekim]

Quite an interesting article and mindset change. Anyone have any input on any worldwide projects that might fit under Bruce Cleaver's intention here? I would say the list is only 5 or 6 long. Maybe a dozen...if you really stretch the concept of economic in the article. LONG...PGD EKIM

[ekim]

No input on the 5 or 6 potential on De Beers list? Very limited # of projects in the western hemisphere. I know Rio is working on a project near Thunder Bay Know of some private work being done in Quebec and also another group working on some private kimberlite work in Saskatchewan. All these are still quite in their infancy. NAR has Pikoo and Naarjaut. They need to figure out that orangey

[igalaaq]

It's so mysterious though, why did DeBeers walk away from Chidliak a couple years ago.  What was it that they were not seeing for which resulted in lost interest?

[mill44]

Neither company commented on that. Peregrine only put out a statement that DeBeers was not going forward with PGD. So lot of speculation, but nothing certain.

[ekim]

Tom did participate in an interview...that is available online...that he does give his opinion of what happened and he also pushed forward the opinions of some of the De Beers Canada people that worked on the option. The information is all on the web.  It is not so mysterious if you believe what Tom is saying in the interview. If you don't believe what Tom is saying in the interview

[teddygva]

Why would de beers come back? What do they know that we don't?

[madmann]

They know more now than they did when they bailed.............a lot more.

[teddygva]

how do you know that they know more now? your comment makes no sense

[ekim]

All PEA and Valuation exercises were done post exiting the option agreement. I believe that is what he means. LONG...PGD EKIM

[madmann]

exactly!