Peregrine Diamonds Ltd. PGDIF

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Institutional buyer

[shneps]

I totally agree with you Schocor. From reading of the technical reports and news releases I believe the next step in the process is to fund a DMS on site for the concentration of ore, allowing for air lifts to take the concentrate straight to the SRC. We lose an entire season having to wait on analysis of the samples. I don't believe you will see much happening this summer but if financing becomes available there will be a large permitting push and preparations for the establishment of a DMS plant. This winter would be a significant program with the trenching of the (6) available pipes (under permit). Some pipes may require additional large circulation drilling for bulk sampling due to overburden and pipes which have multiple KIM domains (i.e. CH7). Permitting of the DMS, IMHO, may be an amendment to the existing permits with the addition of the DMS site, the containment and rehabilitation requirements are necessary. This is one of the great aspects related to Chidliak in that there all the right components for this type of exporation and bulk sampling.
Once these half dozen or so pipes are, at least partially, brought into the fold of an additional PEA will the economics be right for advancement to PFS or straight to FS.
The new PEA will be good but keep in mind OP mining cost is $4/t and UG is $105/t. That cost is is 20-25% of the HG grade value. That's why they only chased the HG down to to the 540M level.
Lots of work to be completed before the PFS is going to happen.
Cheers