Peregrine Diamonds Ltd. PGDIF

RE:9 years for SWY from PEA

[ekim]

Big companies do internal studies all the time from scoping through to FS. A lot of these projects are not material and don't need disclosure. Chidliak is material and a PEA gives a chance for mgmt to speak economics to whomever phones them. Hundreds of projects pay for a pea to be done and when the results come out negative market is none the wiser because the they don't release it but talk about drilling programmes instead. Some companies try very hard to squeak out a barely profitable pea and that is a sign of weakness. An extremely robust pea does not normally turn into a completely busted and negative FS study.
in fill drilling at chidliak is going to a minor cost. Bulk sample and parcel collection to refine the value model will be a major expense. This will be the 7th year of environmental baseline studies. Seems immaterial but is very huge. You can't speed up those studies artificially. There is also deep drilling and deep drilling. Deep drilling at chidliak like Renard I'd not in the cards for quite a while. Deep drilling to up to 400 metres to deepen the pit..especially at ch6 is absolutely in the cards. Could easily add another billion dollars to the first ten years of production. Long...pgd Ekim