GREY:PGDIF - Post by User
Post by
mden2on Jan 08, 2010 8:57am
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Post# 16653936
Canaccord research today
Canaccord research todayPeregrine Diamonds* (PGD : TSX : $2.26), Net Change: 0.29, % Change: 14.72%, Volume: 678,024
Investors bulking up before the mini-bulk release? Peregrine Diamonds has made what is arguably one of the most exciting diamond discoveries (anywhere in the world) in a long time - at its 980,000-hectare Chidliak Project on Baffin Island, Nunavut.
The company announced in December that processing to recover commercial-sized diamonds from the 50-tonne mini-bulk sample collected from the CH-1 kimberlite had commenced. The mini-bulk sample is being processed at the Saskatchewan Research Council Geoanalytical Laboratories and final results are expected this month – January, 2010. Back in September, shares of Peregrine first took off after the diamond explorer announced that a 398.8 kg sample collected from kimberlite CH-6 yielded 2,730 diamonds larger than the 0.075-mm sieve size, including 131 diamonds larger than the 0.600-mm sieve size. The largest diamond recovered from the sample was a 0.62-carat white, transparent aggregate.
Also of note, Peregrine announced Wednesday that it has appointed Mike Westerlund to the position of Vice President, Investor Relations and Corporate Communications. Brooke Clements, President of Peregrine stated, "2010 will be an important year for Peregrine as we continue to add value to the Company by advancing our four diamond projects in Nunavut including Chidliak, one of the most promising diamond projects in the world. Mike Westerlund's experience and expertise will complement our strong management team as we communicate our on-going advancements to the investment community."