Peregrine Diamonds Ltd. PGDIF

Time to bring in other partners before someone else does

[desolationsound]

Seems like major mining  companies that have major assets (other than their diamond mines) are looking at shedding some of their
diamond operations -
Ryan Long, an analyst at Northland Capital Partners mentioned the news has been expected for some time, following BHP Billiton's decision to review its position in the diamond organization in November."It has become clear that major multi-commodity miners with a limited diamond asset base cannot expand their position in the diamond enterprise from either acquisitions or discovery of tier one assets," Long said."The lack of recent significant diamond deposit discoveries (only the Victor, Ekati, Diavick and Gahcho Kué deposits have been discovered in the last 30 years) mean both Rio's and BHP's chance of competing with the other large diamond miners is limited."Rio Tinto produced 6% of global production in 2010, compared to Anglo American which produced 27% in the same year.Long continued, "With both BHP and Rio exiting the organization it will give diamond focused miners such as Lucara Diamond Corp, Harry Winston Diamond Corporation and Petra Diamonds the opportunity to expand their asset bases or merge to make larger diamond focused miners."
That's why Eric should be calling William Lamb (Lucara) before Rio & BHP do !!!