Peregrine Diamonds Ltd. PGDIF

Phase 2

[cudjo]

Looking at the presentations, no AGM 2018 on web page yet, would the company do another $12-15 million rights at a dime or less to "work" phase 2 (44 & 1), and work to another new PEA at this stage of the game instead of moving towards mining 6&7?  With deafening silence from the company, we will see what today brings, I have my stops in, as phase 2 is starting to look like the plan for the next 10-12 months, not sure how this would be "rewarding" for shareholders.  Good Luck.

[schocor]

So did one of those presentations mention a $12-15M rights financing? I doubt it did but I AGAIN thank you for speculating about that.

[cudjo]

schocor, no they did not, but in past presentations there was always slides on what to expect in the "future", nothing in the past two presentations on the "future" except full presentations of 44 and 1.  What does that suggest to you, please explain.  My point is valid, I expect the company to move forward towards a FS and a plan to mining 6&7, that is why I am

[robybob]

Schocor, anyone who has read the presentations knows that there is nothing about another discounted rights offering in them. While it is still possible, I would like to think it is not what is in the works.   Tom said 2018 would be rewarding, another discounted rights is not a reward for the long suffering longs.  A partnership, deep pockets, buyout,  to move this into production

[mill44]

That's not for just you, Robybob. That lid would apply to all of us.

[griefman]

Ask yourself this: Would you in good consciousness suggest to a relative or good friend to invest today in Peregrine? Unfortunately, I could not, and that should ring warning bells to myself, but after this much time, I understand the “obvious” risks and the “potential” rewards of this play.... it’s time!  as Bruce Buffer would say.... back to real world in da jungle.

[robybob]

Good points griefman, on the whole, making any investment advice to friends or relatives is a path to hell IMO.

[schocor]

Ch1 and Ch44 are larger potential pits with considerably more kimberlite than Ch6 and Ch7. Lower grade - likely - but accretive to NPV based on the early results. As it sits now - with the PEA we have - we are looking at a relatively small mill with a corresponding throughput and a relatively short mine life. The PEA is positive, but a lower $/carat and thus a higher NPV could be achieved is they

[mill44]

I think people are aware of the potential unexplored or barely touched at Chidliak. But most are also aware that there is no money, except from the Friedlands, to do any work there. That's where the puzzle is. If they keep putting money in this, are they really ready to sell it or are they keeping it? Outside money would open up the road to a mine and to future explorations, as well. That

[cudjo]

they couldn't do a deal with the last PEA, that is a fact, remember all my "they need more diamond posts" that pompoms scoffed at?  The company talked about a potential deal getting pulled out from under them in the last conference call.  Mil is correct, so afterward everyone correctly assumed they needed more diamonds for a deal, roll eyeballs here, thank you,  that

[schocor]

Developing mines and in fact a new mining district (IMHO) is expensive and takes time. Making up assumptions, ascribing numbers to those (false) assumptions, following those numbers/assumptions down a rabbit hole (once every two weeks) is a hobby I see no point in. We have an experienced management team at turning projects into mines and attracting partners to reward shareholders and a good/great

[mill44]

This is why I proposed to point out in the post if you are talking about the company or the shareholders - SP. The diamonds are not going anywhere, true. But that only works for the company, not the share price. PGD can raise money on their own and do more work, they can put the project on ice until things turn around. There are options, for sure. But only one option would work for us and that'

[cudjo]

badda bing, badda boom, excellent post mil.  Have a great long weekend all.  Good Luck.

[griefman]

Think about it - these are all opinions, so then if Cudj is right, so is everyone else, yes, no?

[aea257]

So i have never been to an AGM. How long will this meeting last? Will there be time to still trade  or will the TSX be closed by the time the meeting is over? 

[cudjo]

meeting starts in a couple of hours, 10 AM Vancouver, while I have never attended one (in US), ekim said he is going, not sure about kodi, he lives in Vancouver, doubt if it goes more than an hour, maybe 2.  ekim in the past has posted that very few people attend.  Nothing newsworthy, trading wise, will be released during trading hours, probably just a boring vote of board etc., as usual

[griefman]

Being spring break, I’m actually out of town with the monkeys. Mike did say he was going and was looking for a drinking, or drink partner after the meeting. It’s probably not going to be a celebratory one. I for one, have pretty much reached my limit in trying to figure out what is going on behind the scenes with the companies future plans.  Maybe in the future they should announce

[cudjo]

enjoy the jungle kodi

[griefman]

Haha...

[heavymomentum]

Question for the board, there had been talk in the past about a DMS unit. IF the company was to acquire this equipment where would be the best location to strategically place this to get the best "bang for the buck"? Just something I have been questioning as the mining part of this play needs to evolve.

[schocor]

DMS are generally pretty mobile and relatively small (moveable). The one they purchase for Childiak would most certainly be mobile if you ask me. Best place to put it is right beside the deposit you want to test. Ch44 is my opinion. Quarry the kimberlite, weigh the kimberlite, spit out the dense stuff and send the concentrate to Saskatchewan to be assayed.

[racer-x]

Who is the Contractor for the port construction? Could the dredged material be repurposed for roadbed? What if WashCorp wins the bid to deepen the port?

[shneps]

When De Beers (in particular) was JV'd with Peregrine they went through the process of production facility locations, infrastructure, etc. including the usage of a DMS unit. As Schocor stated these units are very mobile but that also entails not making any rutting in the landscape. Can this be done in the summertime? If it is all on rock then yes, anything else no. Materials, equipment and

[schocor]

Don't put too much credence into any of Cudjos numbers at this point. Speculation at best. However your point about a significant amount of the work that WOULD be included in a FS already being done via the PFS at CH6 is a valid one - in my opinion. On the DMS; I imagine they need a permit to operate - I imagine this will be relatively easy to get as Nunavut is generally pretty favorable in

[cudjo]

schocor, get your facts straight, the 50 million is JK's estimate, not mine, the work done to date is for a PEA and does not make up the bulk of the work required for a FS, do a bit of research on what a bank would require in a FS.  Good Luck.

[cudjo]

thanks shneps, the 50 million is a JK number for a feasibility study, the company talks about, or used to put a timeline in the presentations outlining a "pre" feasibilty time period, which moves resources from inferred to an indicated, but not with the same level of confidence as a full FS. A good explination is a PEA is what it "could" be, a pre FS, what it "should"