Peregrine Diamonds Ltd. PGDIF

Does the recent runup

[Fivecarat]

End today?

[mrrbc]

I think it will test .40 over the next few days, then settle into a range (.35-.40), until the next substantive news.

[peachbanana]

There's always the (remote) possibility that someone is quietly siddling up to the 10% threshold. If that's the case, this run will continue until the we've racked up at least 22.6M (or 28.2M after warrants) in total volume.

[Fivecarat]

Siddling up you say?  Interesting thought.

[ekim]

Exactly what happened to mary river. US investor garbled up shares quickly before bidding. No one could relate events to the price rise. Ekim

[Fivecarat]

Mike, can you recall who were the US investors in that Mary River scenario?   Thx

[ekim]

No one I ever heard of before. Baffinland was in private negotiations with arcellor mitel to partner up on the project. This third party came in and changed the path forward. Ekim

[peachbanana]

Mike, you might be able to do this calculation more efficiently than I can. Before the warrants were exercised, what was the % owned by Goodman and the Friedlands? It was over 50%, wasn't it? How many warrants would everyone have had to have exercised in order to bring that % of family ownership below 50% (taking into account the % that the Friedlands also exercised)?

[ekim]

You can trace back through the press releases..but more importantly start off with the final prospectus of the rights offerring on SEDAR. Look 6 to 7 months back. It has a lot of detail including ownership and what if statements in it regarding the big 3. LONG...PGD EKIM

[peachbanana]

Hm. So after poking around for a bit, I have two observations. 1. According to the report, Robert Friedland exercised 16,567,279 warrants, and then bought and exercised 8,893,495 more. But he had MORE than 16,567,279 warrants to begin with. Why did he buy and exercise another 8,893,495 shares? My guess is that it was part of some clever scheme to keep at least 50% of the shares under familiar