Peregrine Diamonds Ltd. PGDIF

Pending results

[Kidlapik]

There is no market indicator that screams buy PGD, if people are going to buy this stock its going to be on the fundamentals of the project. Re-reading the news release over the past year management has time and again grown this project. Ever news release pertaining to the size of CH-6/CH-7 have only grown the foot print.

In their news release they show a Phase 1 mine target of between 12-15million tonnes. CH-6 to a depth of 380m and CH-7 to a depth of 290m combine for a minimum of that at this point.

The diamond game is all about averages and the valuators / PEA people report based on odds. Right now the bulk sample size for CH-6 and CH-7 is small, roughly 500 tonnes sampled for each. While other mines have Feasability studies that encompasse 10,000 tonnes or more. So ask yourself if you were responsible for overseeing a process that puts out values on a deposit that is based on averages how would you approach the process.

From looking over other Canadian diamond mines it appears as though the first results for valuation / economy are low-balled as the sample size is very small. As the sample size gets larger the estimates scue towards the higher end of the original estimate.

PGD has been following these guidelines all the time. They have continuously come out with results then exceeded them. CH-6 first maiden resource was updated with a 15% increase and now again it has been increased with the same being true of the original CH-7 resource to now.

CPT and Valuation results for CH-7 are crucial but all previous data points to at least 1cpt and around $200/carat. So we HAVE a MINIMUM 6million tonnes of CH-6 to a depth of 390m at 2.58carats per ton and $213US/carat for a total insitu of $4.6-billion Canadian and a potential 5million tonnes of CH-7 to a depth of 290m at 1.2cpt at $200US/carat for an insitu of $1.68-billion Canadian.

Chidliak with just CH-6 and CH-7, disregarding EVERYTHING else, +$6billion Canadian mostly above 290m depth and with a management team that has historically expanded the resource time and time again and who have a RIDICULESS amount of skin in the game.

If PGD fails then Eric and Robert lose money, these are two of the most knowledgable people in the mining world and they are buying this stock over and over again.

This news release is crucial, make or break time for Chidliak. I predict NR Monday morning.