James Flannigan is insanehe needs some serious help...LMAO!
little does he know....
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Peregrine future JV partner ?All signals point to Debeers
Here are the facts as we know them.
1) when Debeers pulled out of Chidliak peregrine said they would comment further on Debeers exit.They did not until this Northern Miner quote "As for De Beers, “it was less a comment about the merit of the project than the state of the mining industry in general and capital allocation. In discussions I had with the technical team … they were disappointed by the decision to exit the project, and … many of them continue to see this as a lost opportunity.”.
2) After the Debeers pull out they did vouch for PGD in the Diamond Bourse(after the pull out)???
3) Tom told me PGDs relationship with Debeers was good and they talk all the time.
So any way we speculate who the JV partner is Debeers, DDC, LUC, or SWY it is a very good bet Debeers is the top choice for PGD still.Debeers was putting a cash flow mine plan together when they were exploring the project on a desk top study.They had boots on the ground and know the geology well already as the other companies don't.Debeers would also get access to the BHP data base that cost BHP $100 million to get.This would be a free ride on all of Canadas future exploration for Debeers on the back of BPHs ticket.
I now think its a real possibility Debeers and PGD ink a new deal as I know for a fact PGD would rather Debeers to build out Chidliak as it was and still is the partner of choice.I fully do not think PGD will go it alone now with so much stock outstanding.Shareholders would be better with a Debeers carried interest.I thought PGD might go it alone but was told by the big guy a partner was the best choice.Now that they issued so much more stock after I was told that a roll back in this market would kill the confidence in this play as two majors walked and the last two financings were not good.
This puts PGDs management back at the table with Debeers as the best rout to advance Chidliak and I as a sort of large shareholder welcome Debeers back on the right terms.It is in my view best for PGD shareholders to welcome Debeers back.As of yesterday we no longer need to focus on the geology of our mine but rather who is going to be our partner.Who has the expert staff in place aready? Who knows the project better than Debeers? Who knows how and has the credibility with mine merchant bankers?Who needs the high value diamonds once Victor closes?
ITS DEBEERS.
James