Peregrine Diamonds Ltd. PGDIF

Summer 2017 Drill Program

[shneps]

So. What did we accomplish with the past drill program? 1. A couple of holes were showing expansion at depth. Great. But they did not place, in graphics, the last set of drill results. Why? I personally can not be bothered to play with the Azimuths and angles to create a 3D model. I depend on Ekim for the analytics. 2. Drill holes for geotechnical drilled at 60 degrees, indicating this is the probably the proposed pit slopes. Half the holes were lost due to technical difficulties. That's not good towards geo.. 3.Brought in an extra drill but were 2200 metres short of the target amount. Weather was not the reason, so why not complete? 4. What did we actually accomplish beside dilution and why? We may have, but also may not have expanded the resource. A lot of money for what? 5. Diamond valuations? I anticipate them to continue to be good but we'll have too wait and see. Conclusion: I'd like to think we did this only to appease a potential partner to actually put pen to paper. We are getting to a point (IMHO) where if further rights offerings occur a partner no longer has the value to participate and this goes private. Overall a bit disappointing, certainly not a bust from my perspective. I continue to hold my long positions as the valuations have increased again.

[mill44]

If neither the PEA, nor the summer program brought for the shareholders real value, measurable by market cap, then how could the management go forward with more financing? I am hoping that you are right and they did this to move forward with a deal, because if they raise more money from shareholders, they will do it with the intention to eventually get rid of the minority holders. No management

[racer-x]

Maybe the rigs at surface were unstable due to directional drilling torque and hard to anchor, but bedrock below for ug mining is okay. Without expansion and open at depth the project was too small and uncertain, but should be okay now, the sp will move when they buy-in

[Kidlapik]

No one is going to believe me but whatever. I was sitting next to two of the drillers waiting for a plane out of Iqaluit in the summer. They were talking about the site. I talked with them a bit just casually asking what they did and how it was going and they mentioned they were upset because they lost a few holes because the scientiests took too long collecting samples and it froze. One of the

[racer-x]

I believe you, as we go that deep here where I am in sand, must be sand in your town. The permafrost is only frozen 5ft down from surface? At the Ch6 mine site a tech report showed ancient overburden and then bedrock which will be solid for ug mine, I doubt they would be talking ug mine if it is all sand caving in on them.

[ekim]

At one of the AGM's, the tech staff indicated that they much prefer drilling on ice (winter program) as opposed to the tundra. I think the justification was that it was easier to move the drill around from collar to collar...but you have to think it would be a lot easier to anchor into a solid sheet of ice then overburden material. We may see more core drilling with a winter program. It will

[mill44]

That's what we need, an announcement of a winter program. It would do wonders for the SP.

[griefman]

Kid, sounds reasonable, so why not communicate that if it is indeed the case?   Is it embarrassing to admit?

[ekim]

I meant to respond to the original post...but looks like I got to sidetracked. "Drill holes for geotechnical drilled at 60 degrees, indicating this is the probably the proposed pit slopes." I doubt the angle of an HQ drillhole has anything to do with the proposed pit angle. The geotech's may recommend angles..but that would be their voodoo magic. The geotech holes were angled

[lovecarats]

Mike/EKIM I said you are out of your league on this and I mean it. Why talk about block cave on a pipe that is as small as Ch-6? That's foolishness sir. Of course not. Look at the mining methods used by Ekati, Diavik and Renard on similar-sized pipes. Very expensive mining. That should give you a clue as what can be done. As for your 60 degree pit slopes - good luck. Once you

[ekim]

needs glasses LC? You think CH-6 should consider block cave? Cause I'm pretty sure that it is 100% not going to be a block cave as I stated already. Capital cost of block cave kills most projects. Point was that geotech data is just that..it is relevant to a project and good sometimes means bad and bad sometimes means good. I already asked PGD to tell me if the hit the end of permfrost with

[griefman]

Special request: Not that you need to be long to comment on any forum, but I’m interested to know if LC has any skin in the PGD game, and since he has me on ignore (big baby) I can’t directly ask him, so can someone please ask? than you in advance....

[racer-x]

Can we put some teeth on buckets float a dredge and mine it all the way down, so remote we could make our own local mine code

[racer-x]

A robot dredge no people on board mines the pipe straight down ...

[racer-x]

On the small pipes could dig straight down with robots Nautilus developed some electric track vehicle robots recently could copy those and use conveyors to switchback ore up to the top, I will leave it at that just an idea ...

[lovecarats]

Mike Relax. My comment on zero block cave potential was just that. Maybe you were initially responding to some idiot that i have on Ignore. But obviosly you know nothing about what is required for block caving...other than it is expensive> Come on. You keep throwing zingers and red herrings out but we all know that traditional open Pit - to maximize NPV and cash flow - followed by Underground

[griefman]

Look up arrogant, and some other choice words, in the dictionary, and you will see a picture of LC... Remember, this is a man who has invested in Stornoway for over a decade, who calls himself a legacy shareholder, yet has to continually dip into his line of credit to average down to a half decent SP, just to break,even. Who's the idiot?