Peregrine Diamonds Ltd. PGDIF

RE:RE:alberto, northmark, ntagain, et al

[schocor]

As a long time PGD long here are the problems with Chidiak: - Not enough ore/pipes to small - They have not identified new diamondiferous pipes in a few years - Junior mining sector is in a slump hard to raise needed money - Diamond producers are in a slump cant give away small diamonds Alarosa and Debeers are holding back produced diamonds from market sales - Project risks I am not sure I believe the PEA costs I know the company that performs these and I know the assumptions they use and I know many of these assumptions are wrong ( for example ask them the cost per tonne of cement used in their estimate). - Big, smart companies have looked at this and passed BHP and Debeers - Lack of an apparent JV partner for this project partially driven by the crappy diamond market - Questions remain as to whether or not there will be a winter program in 2017 There are more than enough advantages to this project in my mind to offset these problems and make PGD a buy. Big big picture diamond mines will be closing in 5-7 years time. Alarosa can and will expand production, but more is coming off line than is going on line.