Peregrine Diamonds Ltd. PGDIF

EKATI Delays Jay - AGAIN

[schocor]

Washington Corp (former dominion diamonds) announced that they will AGAIN be delaying their monster Jay pit. I think this is the fourth punt in as many years. The fact of the matter is Jay is subeconomic in this and most future economic environments and will likely never get built. High capital costs and low quality diamonds do not make a good pit. Good and bad news for PGD here. Bad is that the diamonds market price wise is still the pits - this affects PGD. GOod news is that the largest brownfield diamond expansion I am aware of appears to AGAIN be off the development table - making the FUTURE market for diamonds and diamond mines relatively more attractive. Maybe Washington Corp will be looking off their claim block if they choose to stay in the diamonds game. Diavik and EKATI are near the end of their lives - Jay was their future.