Peregrine Diamonds Ltd. PGDIF

"Full Technical" Report - Thought

[schocor]

Well that full feasibility PR certainly did not shine any more light on the project. There must be a more detailed document/mine design out there and this is but a summary of that piece of work. Good news; not much changed. They are still looking at an open pit mine on CH6 (to 250-300M depth) and this desktop exercise was to re-model/optimize the mining method/sequence/plan using some computer based tools. This is usually the work you give to a 1st or 2nd year P-ENG. Honestly, it seems like a bit of a nothing burger, which makes me wonder WHY they did, why they did it NOW and what PURPOSE it serves. Something tells me the answer is the upcoming Sprott conference, but I do not know the question. Meh wait and see I suppose. The language about these resources not being recognized as resources is a nothing burger as well. If they greenlight a mine tomorrow, ALL CH6 and CH7 ore become reserves as it moves out of resources. I tell you what; if I had $40M right now a partnership deal to fund a DMS machine and two years of trenching work at Chidiak is how I would invest it. Quickest was for humans to generate wealth is to find a good patch of earth to dirt. CHildiak is a very prospective place to find said magic dirt; we have a fair bit (10M tonnes) but we will need about 2-3X that to guarantee a mine. I think we can get to that 30M total ore if we strategically target large tonnage economic pipes the more diamonds the better obviously but they JUST need to be economic to mine and process to greenlight construction. Not bad news; not good news; not even really sure this qualifies as news but this is as GREAT project.