Peregrine Diamonds Ltd. PGDIF

Todays Price - Focus Moving Forwards - Partners

[schocor]

I also expected a little bump in stock price and more importantly volume on this news; it appears the heavy volume (to the extent it existed) was yesterday PRIOR to the news. No matter. This news de risked the project, but not appreciably. Everyone expected the CH6 diamonds continued at depth so there was no surprise. While that beautiful unique deep green stone is interesting (green diamonds form from contact with radioactive alpha particles) it wont add a lot of value to Ch6 as the quantities of such stones are likely very very small. Its sexy though. Here is a thought; weather at Childiak this time of year is beyond terrible (I believe the town itself was closed today). Typically, the plan with diamonds (anything really ) is to open pit mine as deep and economics allows. Because these Chidiak pipes are rich rich and small and the weather at site terrible, I wonder if they will rework the mine plan to do a shallow open pit mine and a deep deep block cave underground mine possibly with common underground workings to access other, proximity pipes to CH6. This might explain the excessive (for this stage) focus on CH6 and deep delineation drilling they undertook. Shareholders will be rewarded once we get more resources proven up. I think work on the other promising pipes should now be the focus. If we can prove up a couple of additional years of mine life, expand the throughput for the process plant things should improve for shareholders. Get that 10tph DMS unit at site and process the heck out of these other pipes I say. There MIGHT be more diamonds at Childiak than EKATI and Diavik combined (130M) On the partner discussion; we are running out of players. Dominion/Washington are not in the mix and they are just trying to figure out what the hell is going on with their existing projects (a real mess). All the other small players (stronoway, MPV) are to small or broke to take a swing at financing this. I think we are left with DeBeers, Alarosa, Rio Tinto or Lucara*. Debeers looked and passed (or they were broke at the time.nobody knows). Alarosa never invests outside of Russia. Rio Tinto may or may not be interested in the diamonds business long term. Lucara MIGHT be looking for a way to spend their cash of which they have A LOT.