Peregrine Diamonds Ltd. PGDIF

RE:RE:RE:WillP

[oiltar]

exdebeers I hope cujo gives me blessing to answer your question.His last post clearly shows he will not understand my answer anyway.But here goes. Carlin is the worlds largest gold deposit cluster on Earth it was found in 1961.But the gold was mostly hard rock,but about 10 million oz were produced placer.Then the play was abandoned as no one knew how to extract the low grades of the ore at a profit.But a little JR gold company locked up some of that hard rock gorund cheap as no one wanted it.That JR company then hired the bests geos and smart rock guys to figure out how to unlock the gold.

That company succeeded to figure out heap leaching was the key.But the JR was out of money so a guy came along and plunked his last penny of $2 million (1980) into the JRs coffers and then the Carlin Trend was and still the hottest gold feild in North America.In fact the guy who put the $2 million down has got back $2 billion and counting.The JR company who unlocked the Carlin was American Barrick.The guy who put up the dough was P.Lassonde from Franco Nevada.There are now over 20 operating stand alone mines on Carlin.

Getting to Chidliak we can see from the Lac de Grass district that multiple mines were found and there might even be more.With Chidliak the shear volume of kimberlites and as of today 44 diamond bearing (and counting) is a clear indictation of a district size event.PGD needs to focus on 6 and 7 and then 44 to prove up a $10 billion deposit stand alone mine.Then it can take on JVs for the rest with the proof in hand.Two majors walked away from Chidliak.Chidliak is far too big for PGD to go it alone just like Carlin was for JR Barrick.But Barrick did not own the entire Carlin.Barrick did not see how big it was to become at the time,A dozen majors walked away from Carlin.They did not see it.BHP and Debeers walked away form Chidliak.They did not see how big it is going to be.But I do.Debeers and BHP walked away because they did not see the 50 million ct target that is now quickly emerging.They did not walk away from 50 million cts its multiples of that.In fact they made the same mistake Fipke did when he thought he found a diamond mine.He did not find a diamond mine he found a district but did not stake the gound around the Ekati discovery.Robert and Eric learned from Fipkes mistake to lock up 100% of the target ground then go find the mine.Take the depressed share price out of the mix and PGD sharholders have the two smartest mine guys in the world who are very shrewed at the helm.These guys have set up PGD shareholders for staggering capital gains.We are very lucky.

James