Peregrine Diamonds Ltd. PGDIF

RE: Peregrine's See-saw Ride Continues

[bullwhip29]

In order for PGD to get out of this rut, it will need to deliver bulk sample results that are far better than the ones they announced a few months ago (and must do so sooner rather than later due to funding concerns). The discovery of more diamondiferous pipes alone isn't enough to move the stock anymore.  It's do or die for this company in the second half of 2011, a year which most believe will not be nearly as hot as 2009 and 2010.  If they deliver the goods, we go to the promised land. If we get more mediocre results, then PGD will fall further into the death spiral that comes with having to raise more cash and dilute the shareholders year after year without anything to show for it.

The most recent financing will be free trading next month. If the boys in NY, Washington and elsewhere can't keep this joke of a market stitched together for a little while longer then PGD will crash through the 200d MA and ultimately down to levels under $2.00 on larger volume than what we have witnesses recently. After that, it's anyone's guess.