Peregrine Diamonds Ltd. PGDIF

RE:RE:RE:RE:RE:RE:RE:RE:RE:IIROC

[oiltar]

No need for IIROC.

The diamond business has slowed and the shake up at DDC and low diamond sale prices from MPVD and SWY has the industry in a caution mode on new diamond investments.PGD has the right project but market conditions have not been kind for PGD to attract a diamond producer to fund Chidliak.

So it likely we will not see a winter program now as any kind of funding would need a closing date and that would likely be too late if we go another week with no news (NO DEAL).I have always thought and still do DDC was likely in talks with PGD but they might have failed and now Bell is out in June.Moving Tom to Kaizen around the same time BELL quite is a clear indication no talks between DDC and PGD are at the CEO level now.

So at worst we will see no winter program this year and we face a 1 yr delay if so.When the new CEO takes over DDC in June new talks could start and next winter they can do a program.

If the share price drifts down to 15 cents it gives a 25% discount for another yrs wait.25% in I yr is an oustanding return.I have cash waiting. Some one some day will mine Chidliak.