Peregrine Diamonds Ltd. PGDIF

RE:Does Anyone Question that This Will NEVER be a Mine? WHy

[oiltar]

No one day this will be a mine.But we must view the NR as a" set back move forward".
It is clear that a major producer is not willing to put up the money for the needed winter program to keep this project on its said timetable.I have always thought due to the market ignoring the data as JK pointed out on BNNTV yesterday that this project needs a major to get involved.I still do.But from a shareholders stand point I must admit we are is survival mode and seem to have exahusted any chance to get a major involved at least for now.So the company by not getting its winter program funded by a major has put its back to the wall with no choice but to once again self fund and its going to mean more shares outsanding.With drill results not in store until the fall of 2017 I now rate this stock as more risky and a hold as we can not have any clear view to the share float even at what now is going to be a MPV like time frame for a production mine.For those who see this as dead money ( the results of the PEA were sold into and did not attract a major miner) there will be alot of time to buy back shares at what could be lower prices if world markets roll over in 2017 as I expect to happen.As for my position it has been trimmed and I have gone into a large cash position with my PGD funds and will wait for a market correction. I do not see this as a mine on the companies web site and now look more like the 8 yr time frame as Tom put into the media in Nov.

One this will be a mine longer term.