Peregrine Diamonds Ltd. PGDIF

Faraday 2 results out

[ekim]

Take away the fluff...and there is a lot of it...but the end result is not a bad coarse distribution, great grade...and the single best stone ever founda t Kennady/Faraday to date.

4 largest stones:

4.72-carat white/colourless octahedron with minor inclusions;
4.28-carat off-white transparent octahedron with noticeable inclusions;
3.45-carat brown transparent octahedron with noticeable inclusions;
2.69-carat white/colourless, transparent tetrahexahedroid with noticeable inclusions.

1 great stone and 3 poor stones.

They might be pushing for a CAD$200 per tonne rock value or more and maybe Faraday 2 could be a satellite feed to Gahcho Kue with Kelvin still potentially uneconomic.

Looking at all the recent bulk samples....my interpretation is this:

CH-7 has the highest coarse distribution and in the upper sizes...for every 1 great stone, you get 1 poor stone.
Faraday 2 might be the second coarsest (competes well with CH6)....and the in the upper sizes..for every 1 great stone, you get 3 or 4 poor stones.
CH-6 competes well with Faraday 2 on the coarse distribtuion...and int he upper sizes...for every 1 great stone, you get 0.3 to 0.5 poor stones.

Coarse distribution isn't everything...as you can tell above..if you takea way all the poor stones out of the coarse distribution curve...and just look at the coarse distribution of the good to great stones...CH-6 is still the clear winner by a huge margin.....and that is why you see $500+ to even $1000 rock value in CH-6.

Kelvin is at the bottom.

LONG....PGD

EKIM

[griefman]

So great the stock is doing....nothing really: Kennady Diamonds Inc. (CA:KDI) Last 3.40 Change 0.00 | 0.00% Bid (size) 3.40 (3,200) Ask (size) 3.50 (100) Volume 21,038

[ekim]

Based on their presentations...they have 4 different kimberlite domains within that Faraday 2 pipe. That means 4 different valuations and 4 different grades. That means they can only depend on that one nice stone for one of those 4 domains. You could end up with a nice valuation for 1 domain and lower and variable valuations for the other 3 domains. We will see. Next up will be Faraday 3

[griefman]

From Will P: Dermot Desmond and Dr. Rory Moore's Kennady Diamonds Inc. (KDI), down one cent to $3.40 on 101,000 shares, has the diamond counts from its 262.6-tonne mini-bulk test of Faraday-2, one of several rich pipes at its Kennady North project, 10 kilometres northeast of Gahcho Kue in the Northwest Territories. The rock produced 737.6 carats of diamonds larger than a 0.85