Peregrine Diamonds Ltd. PGDIF

RE:KDI

[Kidlapik]

Said it before and I will say it again. KDI's price reflects the positive outlook on diamond mining in NWT and its proximity to operational diamond mines while PGD reflects the uncertainty and risk inherent to Nunavut/High Arctic. With very little emphasis/understanding being given to the fact THIS IS RIGHT NEXT TO IQALUIT which is equivalent to being right next to Yellowknife 20 years ago but nobody is factoring that in. Iqaluit is BROKE and needs the money, discussions about higher % and where the PGD tax money should be spent by Iqaluit/Inuit orgs is already being discussed! If that doesn't give you an idea of the level of anticipation/acceptance this project already has with the Government of Nunavut and the City of Iqaluit. I am not saying this wont take some more time as permitting and environmental assessments going through NIRB will take a bit of time but there is both a demand and social acceptance of this project in Nunavut. In my opinion as a resident of Nunavut and frequent visitor to Iqaluit. As far as the price and financing goes I have no idea what will happen but I personally do not believe Friedlands are just here to scoop up a diamond mine and run off like bandits. Considering the scale of Robert's other projects it seems to me that if he wanted to run off with the piggy bank he had plenty of other much larger scale resource discoveries he could have done that with if he was so inclined.