Peregrine Diamonds Ltd. PGDIF

Ho w wrong am I?

[ntagain]

Mike, I am having trouble with where we are at with the winter program and this new enthusiasm over adding Chanta Gosselinl to the mix. It seems to me that Tom's been the front man chasing down a partnership or whatever. So if we are this close to a deal, which would mean the work is set to begin, this would not be the moment for them to move him to the other side of the aisle, even half time. As to Chantal, surely we cannot realistically expect her to instantly have the solutions we are looking for as far as new deep pocketed JV friends. Maybe a couple of months or more but not now. I am beginning to think that this is going to be mothballed. No winter program at this stage. Mike, in your estimation, what is the latest they could practically get funding and the OK to start? Just a thought. Hope I am wrong. No experience to back up my thoughts so looking for anyone of you folks to tell me why I am out to lunch. Thanks

[ekim]

Considering most of the $15 million is geared toward contractors and services company. So...the intent is to start 1st of March. A tiny bit warmer..but more importantly..more daylight as compared to Jan/Feb. So, when do you have to greenlight this contractors?  Let's say Feb 15th or even earlier at the very latest and this assumes you have a logistics plan with all of them already today

[shneps]

Is it possible the $15 million is more or less in place but Chantal has been brought in for the $50-100 million JV? What we are waiting on is the additional commitment to be finalized. IF it is to be finalized before the winter program drop dead date. We can't let this winter program slip because of the needed ice road and landing strips, which aren't available in the summer.That is a full

[schocor]

The timing of the financing for THIS years winter program is curious; and I think understanding it is a big part of understanding who/how this project will be financed moving forward. They need $15M for this years program. I CANT see them delaying this years winter program. You dont want to let a year lapse on a program like this. But if they planned to raise funds by right offering.well they are

[cudjo]

They farmed out Tom and are downsizing on the cusp of the most important field work in the company and before a feasability study which is required to take this to the next level, doesn't matter how much lipstick you put on that pig,  if there is money you dont downsize and farm your best out.  Tommyboy is out IMO is because he could not get a deal done, (if you believe OIillie, and

[shneps]

Sounds like Cudjo's back in the shorting game again. Not the worst idea at this point. Didn't work out last time when you were on the same bandwagon.

[schocor]

Respectfully Cudjo I dont think you know what you are talking about. Who will run the winter program? Probably the on- staff geologist and local laborers. You dont need to book aircraft months or even weeks - in advance; nor procure underwear months in advance. In so-far-as plans are concerned I have already seen their equipment plans for this winter posted on the PGD website and in these

[cudjo]

thanks schocor, we dont know thier plans there hasnt been any announcements, just a newspaper article and I hope you do not consider rumor on this board as gospel.  Logistics take planning especially in the far north, and if you dont believe that your glasses are rose. As for the economics, that is exactly why more work is required, if the economics where known and reflect the pumpers belief

[ntagain]

Thanks fellas, A few different opinions. My concern is the timing all around. If funds in place, it still seems a strange time to loan out your CEO . I cannot believe the $$$ is there yet.

[maintenance1]

It is not uncommon for an investor to insist on a board member as a condition of financing. Perhaps that is where Gosselin comes in? That would imply that financing is imminent.