Peregrine Diamonds Ltd. PGDIF

World Class

[madmann]

XDeBeers claimed debeers would not walk away from a world class deposit. Unfortunately for Debeers, they were not allowed a "free look" at pending results. They walked.

With DO27 back under the reigns of Peregrine (and not Peregrine Exploration) and, from what it appears, to be on the auction block, Peregrine, all in pretty much has 50 millin carats in hand. And thats just DO27 (+tffe) and CH6+7+tffe. 

Also, with Ch1, 28, 31, 44, 45, 46, 31, 50M cts is a no brainer.

[Kodiboy]

Peregrine was not on my radar when Debeers walked away because of the "no free look". Can someone please briefly explain what really happened?  Could it be that they wanted Debeers to walk away? thanks

[greex27]

As a believer in PGD I had to convince myself it was a decision that Anglo had made, not on the merrits of Chidliak but a reaction to the market as a whole...I suspect it had less to do with the "no free look" however the posture by PGD either spoke to their strength or their weakness.  Was there an adjustment to the structure as it relates to PGX and PGD? I wasn't aware a

[ntagain]

Your comment regarding Anglo pulling the strings is dead on. Market conditions did not warrant Anglo letting DeBeers spend that kind of money on something that would not start returning for many years. X De beers, your comment on this would be appreciated.

[Kodiboy]

Thanks for the input...so it was strictly a finacial decision and not a game of chicken? Will be interesting to see how the SP holds up this week...

[ekim]

This is the article with quotes from Tom on the issue - https://chidliak.blogspot.is/2016/05/cusp-of-pea.html?m=1 - Anglo's decision seems purely financial. The no free look.on the other hand . That is up to debate. Did pgd pull the no free look just in case the stones and valuations turned out poorly? That result was a material event to both chidliak and peregrine. If Anglo had hut the green