Peregrine Diamonds Ltd. PGDIF

Is the winter programme cancelled?

[ekim]

Ramblings of that only on this thread. Wonder if someone could provide some confirmation on whether that is the truth or not.

As for the program itself...here is a snippet from the feb 9th earnings. A lot more detail in the permit applications.

"Further  programs  at  Chidliak  as  recommended  in the  PEA  consist  of  (i)  core  drill  to  potentially upgrading existing TFFE’s to a Mineral Resource, and (ii) bulk sampling programs with the objective of potentially upgrading the Inferred Mineral Resource to an Indicated Resource level. The Company estimates  that  the  combined  cost  of  these  programs  would  be  approximately  $15  million.  The Company will consider implementation of either or both of these programs at such time as financing or other potential arrangements are made which are appropriate to the support of these expenditures (See Liquidity and Capital Resources).  The Company has been in discussions with a number of groups concerning  the  on-going  development  of  Chidliak.  
The  Company  is  continuing  discussions  with various  entities  regarding  various  options  to  finance  future  work  programs  and  advance  Chidliak towards commercial production.  There can be no assurance that these discussions will be successful."

So, we have 2 potential programmes that may be combined or not or defeerred.

1-- Core drill to convert TFFE to a resource.
2-- Bulk sample to firm up valuation models to stamp it with indicated category.

These are both recommendations for PGD, a junior to proceed with and it is really the only path for a junior to follow. Keep de-risking and de-risking, etc.

As far as Rio Tinto and Anglo ,etc. go....they could care less about converting material from tffe to resource to get a few more diamonds to firm up the valuation. They take a lot of this stuff in house and have a big cash flow treasury chest that they can use for whatever they want and they will use it they want.

Point is I would like to see a deal done before early march to possibly push through the winter programme as mentioned in the permitting....but if a deal is not done by end of February...it doesn't necessarily mean that the winter programme was a necessity or want for the other party.  You really need to take off the junior hat and put on the conglomerate hat to see a project in a very, very different light. The conglomerate will absolutely care about economics, money, etc. ...but they will not just be looking at a 3rd party consulting firm who came up with a NPV based on many assumptions (correct or incorrect).

We sit, we wait.

Maybe it would be worthwhile to discuss what a conglomerate would do if they got dealt a chidliak hand. I'm all ears.

LONG...PGD

EKIM

[robybob]

was at 999 Canada Place in Vancouver this week, no Peregrine Diamonds on the electronic lobby board, no Ivanhoe on the lobby board, whats up with that? Thought theymoved in with Robert? How can an investor visit the office if it doesn't exist?  How can they hold an AGM meeting in an office that doesn't exist? The move just didn't happen yesterday. Is all they have left is an

[ekim]

654. Did you not try and go up to the 6th floor to confirm nothing exists? I have met a couple of the PGD staff at the SBUX in front of 999 Canada place...so I assume there does exist an office and they are not just meandering around the building all the time. LONG...PGD EKIM

[robybob]

did not have a suite number, thats is why I looked at the board, did a search, nada, why wouldn't they be on the board?   Why wouldn't they want an investor to visit them in an office?  Why in a lobby?   If your there again, recommend you let the board know you actually saw an office with staff, and ask them why Peregrine would not be on the office directory?

[ekim]

What century do you live in Robybob? House 3 on 1st street? Seriously...the system is not broken. Tenants, sub tenants move in and out all the time and those boards are not updated in realtime by any stretch. Stupid conversation anyway. You are right...they should on the board...but who really cares? Investors should care a whole lot more when Tom shows them the rental bill from 2014 and the

[cudjo]

and now, only way to respond to a valid question is to insult a posters intellegence, see kodi, even ekim gets personal.  ekim, they moved months and months ago, why wouldn't the office be posted?

[mill44]

You are right, Ekim. This is not the 19th century where a street address is mandatory to reach someone. You have email and phone and so on if you want to communicate with people. Except PGD does not answer those, either. I just hope that when they updated their golden parachutes, they did not leave the investor relationship guy out.

[robybob]

Really ekim?  What century do you live in?  Personnel will only meet YOU in a lobby?  You live there and have never been UP to their offices? I am an investor and I can't visit the office?  They are not taking calls or returning email?   Every company I have invested in has an office, welcoming, come on in, let us show you around, they can't even take the time to

[ekim]

Come to the AGM robybob. I will personally meet you at the lobby and we can have an adventure together to locate the office deemed in the sedar AGM documents. Funny that I am anonymous here...but anyone could come out to the AGM over the last 2 years and meet me. LONG...PGD EKIM

[robybob]

deal, in the past 2 years, you have seen maybe 2 or 3 investors at the AGM?

[ekim]

Yeah. 2 or 3 investors total. 2 years ago...that included the CEO of Margaret Lake Diamonds. ...and I did ask for a tour of the office (old office) at the last AGM and I did get a tour of the office post meeting. Not sure how the offices are divided amongst the 5+ entities that reside in that space now. Ivanhoe, HPX, KZD, PGD and Goviex....so not sure how likely a tour is this year.  Might

[griefman]

Nice write up Mike, thx. I wonder what we would be discussing if they had not divulged the plan on a Winter 2017 program before they had the funds to do so?  And why did they do so? On a much smaller scale, its like telling your kids you're going to take them to Disneyland, but you have no way of paying for it at that time and as the date of travel approaches, you still can't afford

[ekim]

Your analogy is correct...except the kids are not the investors...they are the community stakeholders that got a nice look at the winter programme from Tom and David in the fall. Those stakeholders have $$'s in their eyes right now for the community. LONG...PGD EKIM

[griefman]

Of course we all know it's about money in the end, no doubt about that and when you get political about your exploration plans publically, the event will be all smiles and sunshine, and maybe even staged to some extent...gee sounds eerily familiar.