Peregrine Diamonds Ltd. PGDIF

News – Archon Minerals – Royalty @ EKATI = FUNDING for PGD

[schocor]

I see that yesterday it was announced that Archon Minerals has converted their working interest in the EKATi buffer zone into a royalty interest. https://www.theglobeandmail.com/globe-investor/news-sources/?date=[phone]&archive=nlk&slug=16994 INTERESTING!!! Stu Blusson (Vancouver based geologist who discovered EKATI) can now be viewed as a potential source of funding for PGD. He is rich, he LOVES diamonds (specifically exploration for them) and he now has no use for his cash besides philanthropy etc, and no ground to play on (he is no longer involved at EKATI). Stu is not a young man, but diamond exploration are what keeps him going. I am sure he is happy to have cut ties with that lot at Dominion lets hope he is in the mood to discover Canadas SECOND diamond district. Stu also has a large minority interests in the DO18/27 field.

[cudjo]

bit of a stretch, but very good try, why would they invest in another capital intensive project with little infrastructure.  What is apparent here, is management is in no hurry to get the summers program up and running despite daylight starting to shrink in a couple of weeks, tells investors that only one of two things are really possible.  If the bros just do a PP for the 7.5 they need

[schocor]

Oh don't think for a minute we are at the infrastructure building stage at Chidiak. We are very much at the adding resources to the baseline stage. This cost dozens of millions not billions and involves finding more and more kimberlites with diamonds and tonnages. True exploration activities. This is where the value to the project is added. If you can find me a better partner for diamonds in

[ekim]

He has got to pay himself back first. Archon was in a position of negative working capital by a long mile (all personal loans to Stu) and having to come up with its fair share of capital costs to the DDC projects. This recent transaction goes a long way to helping out Archon. The royalty eliminates the pro-rate capital cost contribution. And it will be a defined cash flow that will help fund the

[ekim]

The one thing it absolutey does do is put another checkmark in the to-do list at DDC. They have been checking a lot of those things off and I suspect DDC will somehow be involved a significant consolidation in the industry..but they have a lot of loose ends to clean up before that can happen and this one with Archon was one of them. LONG...PGD EKIM

[lovecarats]

I believe Stu still retains his original 10% of the main Ekati claim group and this is where the major cash flow is from currently. LC

[ekim]

Blusson and Archon are two different entities. Archon may be in severe working capital....Stu is far from negative working capital..even with the personal loans to Archon. LONG...PGD EKIM