RE: PP under current price, this has to go down pretty much irrelevant IMO, may go down, probably will go down.
Pennies from here isn't why most of us have invested (anyone really left here are longs), the PP was needed to ensure Peregrine survival for another year IF the CH-6 results in the fall chase DeBeers away. That way we live another year to try and find more potential at Chidliak.... and/or elsewhere. Peregrine has other assets it needs money for as well, remember this......
If CH-6 'proves' to be what initial test drilling suggests, longs here will have more, much more wealth. If not, then those left here can all argue over pennies up and down, lol.
I am here because they put a drill down in the middle of kimberlite, CH-6, in the middle of nowwhere and pulled out diamonds, enough to suggest it could be one of the richest pipes ever, that is why IMO, DeBeers is in the sandbox with their toys.
Does it mean there will be a mine?
No, what this DOES mean however, is that pennies up and down at this time is irrelavent.....
MHR