Peregrine Diamonds Ltd. PGDIF

RE:RE:RE:RE:RE:RE:RE:PGD Drill NR Sept 21st 2017

[schocor]

Todays new release on first reading - was basically a nothing burger; they completed the holes and it looks to me like they GAVE Botswana away for a royalty should it eve be developed. Whatever. There are CH6 depth results to come; what they we hoping is that the grade/value per caret continues at depth (I am 95% sure it will). This will allow them to move SOME of that high value ore from resources to reserves and it will increase the NPV (my hunch is by 25-30%) Now +500M is a pretty deep mine considering how narrow CH6 is. The ore is worth a very healthy +$400/tonne but I would be surprised if it is economically extractable at depth approaching 500M even though the pipe does not appear to narrow. Canadas first generation of diamond mines explored for open pit operations then mined the richer ones underground. CHildiak appears to be trying to prove up one small high grade pipe open pit and then DEEP underground. Thats all fine I suppose and I think it will make for a more efficient mining of CH6 when it comes to pass. My opinion is that the share price would be higher now if they had focused on finding MANY open pit pipes to build a mine around THEN focused on mining the richer ones (CH6) underground after they were in operation. This gang seems to be building the mine around CH6 and once that is going they will explore their considerable, enormous kimberlite riddled property for more pipes which they will certainly find. I do believe that they are managing this correctly for the long term and I have ZERO doubt this will be a mine..but you really need patience to see this one through.