Peregrine Diamonds Ltd. PGDIF

DeBeers

[mill44]

https://www.google.ca/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=0ahUKEwiy85Hv_rnYAhVQyWMKHdDGBaQQFggnMAA&url=https%3A%2F%2Fwww.debeersgroup.com%2Fen%2Fnews%2Fcompany-news%2Fcompany-news%2Fde-beers-group-announces-changes-to-executive-committee.html&usg=AOvVaw0tEflOMxtWPidLWC5sFIQf

[cudjo]

interesting find mil, thanks.  If DeBeers was the company mentioned in the last conference call that the HQ put off what mangement thought was a deal, new bodies could delay, or risk it from happening at all now.  We shall see.  Good luck

[schocor]

Did they say - specifically - that it was DeBeers that pulled out of the most recently rumored JV agreement? I do not remember them stating DeBeers - specifically - by name. Thanks for clearing this up for me.

[shneps]

There was never any such statement that DeBeers was who pulled out of the rumored JV agreement. To the best of my recollection the comment was it got to the board level and there wasn't time to finalize the deal. This could be Diamond, DeBeers or any other board discussion.

[cudjo]

during the last confrence call it was mentioned that pgd management thought they had a deal together when the other parties HO pulled, to the surprise of pgd and the other parties negiotating team.  Never was it ever mentioned who the other party was, highly speculative only here on who it may have been.  IF it was Debeers, a changing of the guard could have a bearing on anything that

[Kidlapik]

Just felt like giving my 2 cents here. The stock will bear it as we are far and away better off than we have ever been. Even if we have another rights offering (by the way I am up 25-30% from that offering currently btw) the remaining share holders will move this forward. This is a mine and potentially the next big Canadian diamond mine. MPV has failed to deliver, SWY has failed to deliver and the

[cudjo]

Thanks Kidlapik, strange, a 10 cent financing and your up 30% and the stock is at 12 cents, interesting math, my point about pot and bitcoins was pretty basic, but what it really means is just about every other market in the universe is up, except this play, and I am not sure how anyone who has been here as a long more than a year or two are much better off, only if you guage this by knowing you

[schocor]

I ASSUMED that it was Dominion that pulled out of the deal mentioned on the call - Dominion was my bet because they were in the process of being sold and they are officially out of good diamonds at EKATI/Diavik in

[cudjo]

could have been any number of companies, I agree, what is interesting, is an HQ pulled, obviously because they did not like the risk or terms or both, or whatever, somethig gave them a second look. Now on your comment of 10 cent rights for years and years, yes, they can, but why would anyone ever invest in this, me, you, Sprott, any institution, etc.  Do the math, they need a half a billion

[schocor]

Well the only reason anyone would hold onto this is BECAUSE they think it WILL be a mine. Same goes for those of us that will continue to invest in rights. Let me ask you this Cudjo - because you clearly follow this stock closely - do you think this will EVER be a mine or not? If you do think it will be a mine one day - eventually the market will realize the wealth in the ground and the stock

[cudjo]

I have never said this could never be a mine, at this point,  the market and majors, most retail except a few here, as well as institutions would all agree, they need more diamonds, hence the 12 cent sp.  I follow it to trade, worked out pretty well so far, unlike those who have been here for years as longs. If there is enough wealth in the ground, it will reflect in the shareprice, the

[mill44]

The problem hasn't been the rights, but the rights price. Since they are basically giving the stock to themselves and their friends, they have no reason to stop pricing the rights at 50% discount every time they issue more. That makes the stock toxic to anyone who wants to get in but does not want to finance a mine. The Friedlands can have one of two goals, shop this or build a mine. If they

[greex27]

The rights price is immaterial AND existing shareholders have the right to participate...it really doesn't get any more equitable than that. They are spending money on building the asset which is necessary for building a mine or selling all or part of the asset. I would suggest that what you've seen is a focus on building certainty for PGD and any possible suitor. The money spent expanding

[mill44]

The rights price is only immaterial if you want to finance a diamond mine. If you participated in the 21c offering, then the 10c, then another 10c, would you like to see a 5-7c offering in a month? We are talking about 4 years of building up the resource which only led to almost everyone that supported them being underwater. This could have been avoided. You cannot blame the results, the need for

[schocor]

Cudjo - I didn't imply that you never said it would be a mine. You did say that DeBeers was the party that pulled out of the last negotiations (false) but I will not begrudge you that point. I am quite underwater on this stock - as is everybody that has owned it - but I do know a fair bit about the diamonds business, mining, the North and the Friedlands; and up know what? I still feel good

[mill44]

Up until now trying to time the entry with the idea of holding onto this stock has been foolish. If you look at the trading pattern after the rights closing, it's kind of clear that there is not much betting on a JV announcement coming anytime soon. It also seems like the whole market agrees that a clear path to unlocking the value underground is needed for the next leg up. That could come

[cudjo]

schocor, best of luck, btw, I have never claimed DeBeers was the company that walked during talks this time last year, could have been any number of companies.  The story here hopefully is winding down for the longs, you have earned that.

[cudjo]

should clarify, exploration story winding down

[shneps]

If the DMS plant comes to fruition this is just the beginning of exploration. There are 8 kimberlite pipes that have been deemed " potentially economically viable". There's Anomoly B and Ch61 that still require investigation, hydrocarbons on the coast, PGM's, gold. Sorry but there is a ton of exploration after this moves into the next stages of diamond production. A little more

[mill44]

With what money? You are scaring people talking about more exploration.

[shneps]

With what money? We have had two ten cent rights offerings. With that money (the majority coming from insiders) we have probably double the resource. If you think Robert Friedland is going to finance this mine, you're a fool. Robert is a smart guy that uses other peoples money to profit from the end result. Everything that the company has expressed they have moved forward with, albeit at a

[mill44]

No, I don't think Robert is a fool. And I do think that he is going to use other people's money to profit. That is the scary part about investing with Pgd, not the lack of resources in the ground.

[cudjo]

shneps "If the DMS plant comes to fruition this is just the beginning of exploration...." DMS is going to cost millions they will need to raise, FS studies will cost in the order of 30-40 million which they will need to raise, and it appears the permitting which is in place for a supposed winter 2018 or summer 2018 program (it is getting late in the day to announce a financing and a

[schocor]

Cudjo's last post could/should have simply read. "They need to raise money for the purchase of the DMS and further exploration" DUH. We need a partner. We should all wait for that partner. I will tell you that permitting for Childiak in Nunavut is about the easiest task any exploration company in Canada has to deal with. Have they had ANY issues to date in this regard? NONE. The

[cudjo]

excellent point schocor, my mouth runneth over,  sometimes.  Not waiting for 11, or 11.5, I do expect a rights going for 6, then I will buy.  Good luck.

[schocor]

And I am expecting a revised PEA of CH6 (just CH6) by Mid March that will give this project a NPV of ~$700M Canadian. Hoping that allows us to snag a partner and away we go again.

[mill44]

We need and want a partner. But how about the Friedlands? Eric might have found a partner 4 years ago.

[griefman]

I am still surprised that share dilution is an issue here...what did you expect? Of course you are going to see “major” dilution even at this stage.  A share consolation IMO would be a disaster.  Is it amazing that the F bro’s, even with their own wealth, would rather use yours and mine, and someone else’s?  NO! Is it surprising that any potential partner can wait this out at

[Shaft4300]

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