Peregrine Diamonds Ltd. PGDIF

De Beers/Anglo Board approval.

[ekim]

I believe with the recent news out of De Beers /Anglo that the Board has given final approval for the 2017 Exploration budget and its list of line items that add up to the US$35 million. They have obviously excluded Tango Extension from that list although I'm sure it was probably discussed in the realm of that budget.

The winter programme at Chidliak would be deemed exploration (Bulk sampling, etc.) and included in DBC's exploration budget...if DBC was going to JV with PGD.

The cost of the programme is estimated to be US$11.5 million and that would need to be part of the US$35 million.

Point here is that, I would think that if DBC was interested..they would have had to go to the Board and that exercise has recently come and is now past.  We may find out imminently if DBC has in fact listed Chidliak as one of those line items and has JV'd with PGD. If we don't find out imminently....within a week? that may seriously lessen that DBC is still an option. Once Anglo signs off on a 2017 budget of US$35 million...don't think they will be making an exception...so it is either in or out right now.

LONG...PGD

EKIM

[robybob]

DeBeers Canada 35 m budget?  Or DeBeers world wide?  While hopeful, if it is their whole budget for their entire enterprise, doubt it if almost half would go to Chidlaik.  If we do not hear about financing, partner etc, by mid Feb, we have to conclude there will be no bulk sampling winter program this year.  March 1 is a few weeks away and Tom has been quoted they would begin

[xDeBeers]

That will be the worldwide budget. In the 90s and 00s De Beers had a global exploration budget of over US$200million. In the 00s $90M of that was going to Canada and a fair bit to Angola. Most of the $35M will be going to brownfields exploration nowadays.

[robybob]

thanks xdebeers, so near existing mines like GK and not projects like Chidlaik as it would not be as fleshed out as much as they would like to be considered brown but/and still considered green, or greenish. I want to believe that there will be a winter program, but the tide is turning shortly IMO, spring program without a landing strip would not mean bulk sampling, correct?

[ekim]

robybob 2 for 2 for misquoting Tom? and your math is wrong....simple currency conversion. Late night I guess? LONG...PGD EKIM

[robybob]

I think Tom was quoted saying in the news article work would start in feb,  and 15 mil cdn is a huge chunk of a total 35 mil US budget for worldwide explortion, exchange or not, no?   If they had a 90-100M budget, I might believe they could peel off 15cdn for us poor saps, but at 35M, not so much. Ekim, your posting here and SI that they still have a month to announce a winter program,

[cudjo]

robybobybob, you said a mouthful.  The pumpers are still trying to make everyone believe they have weeks and weeks to put a winter program together.  You seem to be a smart guy, ask yourself one question, who is going to put it all together?  The captian has left the ship and is steering it only part time.  Right, he has a secretry who will do it all.  They are going to

[griefman]

Cudjo wrote: They are going to PDAC to look for a bride, there will be no winter program, use your head and think. which head are you using?

[Silverwhere]

Cudjo is desperately trying to throw a monkey wrench in the works. Still spanking your little tarsier cudjo? Stop that, you’re going to make his eyes fall out!

[xDeBeers]

In 2004 De Beers had a $9 million budget for western baffin. Flying out of Igloolik. We must have had 20-30 people on it. We started budget planning the year before but once the core team of geologists, geophysicists and contractors wound into action in the new year we made light work of it. Having an ex military logistics officer helped a lot. And all the contractors. Many hands make light work

[ekim]

I believe Western Baffin has a lot more interesting topography compared to where Chidliak is. In this case...boring is good.  Rolling topography with a few streams all the way between Iqaluit and Chidliak. Gets a bit bumpier toward the coast.  LONG....PGD EKIM

[shneps]

Cudjo, once again it is very obvious your intentions toward the stock price. You persecute the pumpers and never back your dump position with facts. Again I am not sure what part of the country your from but shown below are historical temperatures for the Iqaluit area. The last bulk sample took a total of three weeks on site to complete. If they were to announce the program two weeks before PDAC

[griefman]

Cudj is from the USA...at least that's why he claims.

[martir0]

This post has been removed in accordance with Community Policy