Peregrine Diamonds Ltd. PGDIF

RE:8 yrs to production

[greex27]

Yes...Are we going to like the reason that this is all falling the way it has or not. Cudjo has been quick to take the glass is half empty approach and may prove to be right...or not. I'm an optimist by nature and have certainly tried to stay objective and negative comments are welcome fodder as it's the negative comments that test my resolve. I'm new to diamonds and that makes it difficult to be certain about the opinion that I've developed. I do believe that the more failure we see in exploration and early production should make Chidliak more valuable, not less...I should pose the question, do the initial value's achieved at Gaucho put more urgency or less to find better quality, higher margin diamonds? I would assume more urgency but I can understand how some might be gun shy from jumping at another resource but if you're in the diamond business...do you have a choice? We've altered the exit compensation, we've adjusted the winter program to a summer program that could be mistaken for being directed by someone other than PGD and we know that if you were trying to sell and asset you sure wouldn't want to throw $15,000,000 at a program that may or may not add value to any deals that may or may not be worked on. If you were DOA why would you bother shedding salaries, go to the market, raise some more money through discounted shares and "pretend" everything is alright. I would have participated in another discounted offering for the winter program and I'm sure many others would have done the same but they didn't go to market and there's a reason for that. Now...If we assume there's nothing brewing and I'm an idiot then you'd suggest that Eric and Robert know they need to come up with their share of the funds, so they add time on their side and reduce the cost of the program. It makes perfect sense but then did they dress up the optics and adjust exit compensation just to fool investors? Unlikely but not out of the question. Then you have to ask why is the talent shifting away from PGD? It's easy to suggest that they are saving money but really...are we saving all that much money when you consider the cost of the winter and summer programs? I don't have the answer but to me it seems quite plausible that the path to PGD is clear and whoever is at the table is helping to guide PGD.