Peregrine Diamonds Ltd. PGDIF

Intial discovery

[oiltar]

When Robert Friedland discoverd the Voisys Bay nickle discovery he had outlined about 32mt of ore grading aprox 2% nickle.At the time Nickle was trading around $2 per lbs making 40lbs per ton worth $80. This total was an in situ value of around $2.7 billion US.The shares of Voisys bay gave investors around a 13000% capital gain from all time lows to all time highs.

So when we do the numbers of the CH-6 kimberlite pipe based on John Kasisers 16 million ct forecast for the CH-6 we get  US value in situ of we get $3.4 billion in an ore body of 4 times less the rock volume and 6.8 times ore value of $550 per ton.

So one thing is very clear Eric and Roberts major mineral score was not Voisys Bay.Peregrines intial discovery of the CH-6 alone stands out as the brothers greatest mineral find in North America.As we know the Voiseys bay find grew ot 140mt but at lower grades post the intial find that Inco paid $5 billion CDN for.When we take into account the other pipes at Chidliac it seems that Eric and Robert will go down in history for the title king of diamonds.

I find it odd that WillP has not picked up on just how great this find is on the stage of world class deposits when we have multiple bench marks to clasify the initial discovery.I do not think WillP is a fool by any stretch but do feel he has not shown the merrits in better light on just how big this is going to get and just how relevent this discovery is to the Canadian diamond discovery industry.

Some one here said Will seems to put a bad spin on PGD.I say no WillP is a "show me guy"The problem I have with that is he carries a lot of weight in his opinion and some may miss the chance to be part of this great discovery based on conservitave writting by WillP.

Not to take away from WillP as he is not a paid invesment advisor.But if one feels WillP does not give a positive spin on PGD I would suggest they read Kaiser who is a advisor.I hope one day WillP sees what Kaiser and myself see in PGD.WillP has good writiing and I enjoy reading his posts and Stockwatch diamond coverage.I also pay very close attention to his opinions for better or worse and many times agree with his take.But not always.

I hope Will does not take this post out of context as he brings balance to all of us with his knowlege of diamond exploration.Most of the time he is right,but I think he may cover too much ground as his job requires him to do and along the way might miss some positive situations.

So to the poster who thinks WillP gives less credit to PGD than the company deserves.He has his own opinion and sucess in diamond explortation is a 99.9% losing proposition so he is not wrong juding by the math.But in my view PGD has one if not going to be the greatest diamond finds in Canadian history even with that tiny .009%.With that possibility 2 majors have walked away so this might have an impact on WilP.But is that not the story of how a ledgend is born?

We will se the story unfold as Mother Nature spoke 20 million years ago at CHidliac and no one on Earth can chage that fact, myself WillP or Kaiser for that matter.We all will see one day the real story unfold.(for better or worse)

[Fivecarat]

James, would it not be true to say you and Will P have a bit of a history together on SI? Not exactly a nice one?  Nonetheless, you are being fair in your assessment of how Will works and he has seen it all. I don't believe Will signs in to SH.

[oiltar]

Well you are correct to a point Will and I do have some stong opinions and sometimes at odds with each other on SI.I always thought MPV was sitting on a major diamond find.He was more in Debeers camp hook line and sinker that GK was not woth going forward.Will was not alone in that thinking .In fact I met with the late DR. Art Ettlinger and he told me point blank "debeers will never build a