Peregrine Diamonds Ltd. PGDIF

Funding shortfall

[cudjo]

"At May 14, 2015, the Company had working capital of approximately $9.5 million and cash resources of approximately $14.9 million. The Company’s cash resources are sufficient to provide the necessary funding in order to complete the 2015 bulk sampling program at Chidliak. The Company does not have sufficient financial resources to complete all of its currently planned exploration programs, further exploration and development of the Company’s mineral properties in the near and long term will depend on the Company’s ability to obtain additional funding through equity or debt financing or through the joint venture of projects. The Company estimates it will require additional funding of approximately $7.7 million in order to finance planned work programs for the balance of 2015 and the first half of 2016. These programs are designed to advance Chidliak through completion of potential resource statements for the CH-6 and CH-7 kimberlites and the delivery of a planned PEA in 2016."
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The financing that was just completed will not take them to the PEA planned for 2016. Bottom line is another 25 million shares to the float at todays prices, putting us over 330 million shares. Also, earlier NR's stated that the PEA could be expected in early 2016, now it appears they are just saying 2016...... More delay? and........This is becoming very bloated. With nothing coming news worthy for another 6 months or more, will weigh heavily on the sp IMO.

[Fivecarat]

Seems to me that there is a definite switch in regards to how management is being perceived since I've been following Pgd.  Correct me if I'm wrong, but in the past management was considered to be highly regarded, not so much anymore.  The lack of direct communication, with my investment at stake, is worrisome and promotes my feeling that I can't trust them, and if can't

[Gauwd]

they are the same people, but what I see is more of a lock down, tighter lipped.That can be good if they view things going exceedingly well in their opinion, but can't say it because it is an opinion and not fact and what to keep a lid on things ...... or the exact opposite and shutdown communications can be a sign of things not going to plan. I have never beholden to the saying no news is

[ekim]

Clarity would be nice. The Friedland's mantra of drilling or die is in full swing. They have money in the bank. They need to pad it up while they are in a good position. LONG...PGD EKIM

[madmann]

Hey Gauwd, No offence, however if you'd stepped up to the plate along with others on the warrants, PGD would have a lot more in the kitty............and so would you! M