Peregrine Diamonds Ltd. PGDIF

10% for $50mil?

[Kidlapik]

So say PGD cannot come to terms with a major miner for 50% or more of the project due to the disappointing market conditions or that some of them are just finished large expenses. De Beers just finished off Gacho Kue, DDC got a buy-out, Stornoway just getting ramped up that sort of thing. Is there any precedence for a financer such as a Sprott to take a minority position in a project to move forward? Such as a 10% equity stake at say $40-50million?

[cudjo]

Good point Kidlapik, could also explain the huge wall I saw today at 17.5, over 500K, as well as the wall through 18/19 kodi showed in the MD yesterday.  They would own shares IMO, a couple million or more, from the last backing even though all rights were exercised, there were lots of them for sale, and they could use those to keep a lid, or try to keep a lid, until terms met.  IF they

[mill44]

Not if it's just business. PGD will be issuing rights if there is no deal, which means that there is a decent chance for anyone interested to pick up 10% of the company for fractions of the 50M. 300M shares were issued through rights at 21 and 10c, picking up 40M under 17c is very possible if new rights are coming. PGD will be in constant need of money, the shareholders need a permanent

[shneps]

Remember too, you don't get invited to a Sprott Symposium without being a promotional tool for Sprott's financial interests. This invite means Sprott, almost guaranteed, has his hand in the proverbial cookie jar. 10's of millions of shares have been exchanged since the last rights offering. Who's hands are they ending up in? Cheers

[cudjo]

I agree that Sprott is in, however ownership has to be under 10%, 44 million or they would have to be reporting insider info, don't think any one house has bought over 44 million since last year.  If they have a vested interest but under 10%, would they care if another rights were offered just to kick around some more dirt and not advance to a FS, IMO, they would not have the patience for

[diamondyessnono]

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