Peregrine Diamonds Ltd. PGDIF

RE:RE:From Will P stockwatch

[xDeBeers]

This is a very biased comparison: Putting my comments after XDB:

MTX

• U2 pipe is about 10 ha., the 2nd largest behind De Beers' Victor N & S co-joined pipes of about 15 ha.  XDB I might be wrong but isn't this in the James bay lowlands under a LOT of sedimentary cover???
• Over 75% gem quality diamonds found at mini-bulk similar valuation to Victor's grade of $300/carat. XDB why didn't you mention PGD percentage of GEM quality diamonds? Kidlapik says this valuation is from 16 carats or so? That is hardly statistically significant.
• Dundee/Goodman as 51% partner. XDB: PGD 100% owned!!!
• 10,000 dry tonnes bulk sample to bankable feasibility study. XDB: Which kidlapik indicates has not been done yet!!???
• Quebec property drilling. Rumoured to have found the source of glacial KM train at lake. XDB. Rumors. Phhhh. PGD rumored to have increased tonnage around CH-6 in the form of the string of pearls. But rumors don't count.
• $51 million in standby financing & $4 million cash in bank. XDB:PGD should have a similar amount in the bank.
• World-renowned Chuck Fipke at helm.

PGD

• BHP & De Beers both walked away from PGD joint venture. XDB: BHP exiting diamonds. De Beers reluctantly out. Budget cuts, Anglo decision yada yada yada.
• Very remote location at Baffin Island in the Arctic. XDB. Hell no. Great infrastructure at Iqualuit. 737 fliights to Iqualuit. No lake on deposit.
• Dundee/Goodman invested $3 million & have been selling off PGD shares in the public market XDB: For an unknown reason. 
• Good grades at Ch-6, but very small pipe at about 1 ha. and not economical (about 1/10 of MTX's U2) XDB It will be economical. It has colored diamonds also.
• De Beers terminated the JV after the Ch-6 mini-bulk results a few months ago and would not finance a bulk sample. XDB. Repetition.

Other benefits of PGD that where not mentioned:
Its a diamond field and they have 60 kimberlites or more.
The kimberlites are sticking out of the ground most of the time.
The Friedlands, and Brooke Clements.
Great local government support from Iqualuit.
PGD has BHP sampling database