Peregrine Diamonds Ltd. PGDIF

Resource Statement, my ramblings, feel free to comment

[robybob]

A lot of numbers have been thrown around, high end is oiltar - think he said 5 billion, and sorry oiltar, pie in the sky IMO.  We also have had a poster who says there isn't enough diamonds yet, sorry cudjo, see oiltar, extremes rarely work out.

We also all know there is a long way to go yet, but there has been a great deal of work bringing us to today, the anticipated resource statement shortly, and a PEA.  Hopefully the shareprice will start reflecting the capital spent to get us to this point as well as the potential in the ground.

So, a look at numbers, and I am no expert, however, fun to play the game.  Lets say there is 3 billion in the ground between CH6/7, we know the nice diamonds are great diamonds, and there is a great deal of the 1-5 carat which make up the bulk of the markets high priced (outside of coloured of cource), meat and potatoes someone in management said.

So 3 billion, where does that put the share price?  If higher, lets say 3.5, where are we?  Going much higher is a dreamers folly at this point IMO

Some realities:  

We are going to need more capital, after the summer and the PEA is done.  JK is on record stating 20-30 million to advance beyond the PEA.  This means a partner, and a partner means giving up at least half of the above.  There is no way PGD can move forward alone anymore IMO, and another financing like the last two would be brutal.  

I read a post about Ivanhoe over at SI as a possible partner, that would be interesting, but will need 500 million plus to get a mine going (at least that is the consensus I see here over the past 12-18 months), do they have that?  Don't follow them, but didn't Robert sell some assets for some big bucks not to long ago? hmmmm.

They have not announced any program for the summer, maybe at the AGM, (wish I could go but Dallas, not Vancouver, was in the cards this week for me).  Ekim, goes without saying, you always post input from the AGM, looking forward to reading your thoughts.  I hope there is drilling and sampling plans, losing another year would not be good for us in the short term.

Drilling to date has identified 6 pipes as being potentially economic, with just 2 pipes vetted at this point, not a district, but it is possible.  Would be nice to see more bling.  IMO, that would bring institutions back and lay some concrete at the feet of the shareprice for a change.

Hope we get news tomorrow, if not, may see some profit taking from the ten cent gang over the next few trading days. GLTA

[ekim]

You talk about 6 other economics pipes or so. The missing fact with that statement is that they are so close to CH-7. CH-6 is really the furtherest away and all these other economic pipes are so close together. About 5 km's between ch-1 and ch-31 and you have 4 pipes inbetween. The circle of priority was created to the extent to include ch-6. Without ch-6 that circle would be a h$ll of a

[Kodiboy]

Good post robybob...probably will be somewhere between Oiltars high and Cudjos low, either way, we are talking a great deal of value...it all comes down to how much is left on the bone considering the challenges of the outpost that the area really is, otherwise, it would be much clearer to digest the end of the rainbow profit margin or bust. At these prices, IMO, it's worth the risk....just