Peregrine Diamonds Ltd. PGDIF

My thinking on Debeers and PGD

[oiltar]

Debeers decided not to JV with PGD.But as we can now see in the numbers PGD is posting it is clear the pull out was not related to mine economics on Chidliak.It is my guess Anglo writing of $100s of millions on the Pebble deposit put Debeers in a place were unless Anglo could see the results of CH-6 would not want to take a $58 million write off if PGD failed to meet the numbers of economics.

Anglo share holders would call for blood to spill if so.But like a boy friend and girl friend who may have had a falling out  but still got married later on anyway debeers is courting PGD again now that the numbers are in showing the highest IRR of any Canadian diamond mine bar none.The voucher in the DBC is proof the relationship is still on.

Debeers will need to come back to Chidliak so they can dove tail the Victors end of mine life with the start up of Chidliak.Debeer closing of Victors highest diamond quality supply in the world sets the stage for involvment in the high value stones in the CH-6.

But Debeers is not alone in needing PGDs high value diamonds.DDC can not expect high returns on the JAY pipe due to its poor quality.So like it or not we may have to flurt first  to get married.But we will get married.But who will it be?

[shneps]

This my first posting on Stockhouse. Patients please. I have been following you guys for several months now on the board. Just a question related to DeBeers Victor. I work throughout northern Canada and use to fly with a lot of the DeBeers engineers and geologists. I know that as of a couple of years ago they had a few more pipes west of Victor they were working exploring. Are these dudes? Because

[shneps]

Wow, there's an incredibly awkward silence. Maybe I should change my username to "Foot in Mouth". Sorry

[mrrbc]

Welcome Shneps, the more members participating on the board the better. No need to apologize. I suspect the silence is because no one knows?

[Kodiboy]

Just a pause in posting, nothing unusual and I don't think you said anything wrong or whatever.  People don't usually respond if they don't know the answer to someone's question...new posters as far as I'm concerned, are a good thing.

[rsh]

DeBeers has more than 15 other pipes around Victor, but they have so far been classified as uneconomic,ie: a lower grade than Victor without the quality. Victor is a marginal mine right now with 0.23 ct/tonne despite its very high quality diamonds so lower grade and lower quality is a non-starter. DeBeers was supposed to undertake a bulk sample of the best target (the Tango extension) this summer

[bludogg]

question sir - where is Victor mine located???

[rsh]

Victor(ia)!!! Just kidding: Northern Ontario near James Bay. Cheers.

[DCDRILL]

I've done contract drilling up at the Victor Project for several programs (EA/Groundwater Studies/Exploration) and it was an incredible experience.  The mine itself provided gainful employment and skills training for locals of James Bay.  They were very strict on safety & environmental protection as most mines are (good thing).  The camp itself was like the Hilton of mining

[DCDRILL]

Sorry, I guess we can't post pictures...here's a couple of links if anyone's interested: https://www.ceaa-acee.gc.ca/050/details-eng.cfm?evaluation=80043 https://www.jewellerybusiness.com/newsletters/48-july-21-2008/682-de-beers-to-offer-10-per-cent-of-ontario-diamonds-to-sightholders

[xDeBeers]

Interesting read DCDRILL. Welcome to the forum. I also think Attawapiskat is a model mine for the north. A lot of people put a lot of hard work into achieving that. Of particular note, Johnathan Fowler was the De Beers community liason there and he had a lot to do with making the mine benefit the community. PGD is innovating with the LDD by using a modified RC rig instead of the usual Bauer

[Kodiboy]

Good to hear from you again Xdebeers!  Miss your expertise on this forum....don't go away again, ya hear!!

[DCDRILL]

Bauer is a manufacturer, but they are famous mostly for large diameter foundation drills (bucket auger/continuous flight auger).  These could be used to gain shallow bulk samples, but are limited in depth to 150ft+/-. Drilling 101:  when it comes to drilling, think of the downhill tooling/method and not the manufacturer/brand name There are 5 different types of drilling: Rotary cut

[xDeBeers]

I think the key phrase you said is "the size of rig you can mobilise". Mobilising a LDD made by Bauer (6 foot diameter from memory?) will cost significantly more than a "modified RC rig" from Canada. I am not a geostats geo, but I am guessing the smaller footprint of the Chidliak pipes means that PGD can get away with smaller diameter drilling for bulk sampling. Could also be

[Kodiboy]

DC, good stuff....we continue to be very lucky gathering experts in different areas of mining and so forth on this thread...now, if only we can get some much needed updates from the company to go along with this expertise, we might just know what the heck is going on! Cmon guys, show us we made the right decision to invest in your little company, it's about time you lived up to your end of

[xDeBeers]

The best person to ask about the longevity of Victor would be Doug Winzar. He was the mine geologist in charge of proving up other kimberlites in the Attawapiskat cluster. He met his wife, Carmen on that project and had her working for him! I will ask him next time I see him since he no longer works for De Beers. Perhaps you flew Carmen and Doug around Shneps?

[shneps]

They can be a very secretive bunch at times. some won't even discuss names, occupation or reasons for being on site. You can gain a lot of info from over the shoulder lap top reads though.