Peregrine Diamonds Ltd. PGDIF

Without a deal

[mill44]

in the next couple of weeks it looks like we reach a point where the Friedlands can say with clear conscience that the market left them without options so they take it private. It's another matter that it was their making.

[schocor]

Or the could park it and let it continue to sit; I think they burn about $600-800k a year letting the whole thing idle; they could theoretically do this for 1.5-2 more years. Ideal? No.

[mill44]

You are right, there is always the option of waiting, like Shore Gold did. They fired everyone but the nightguard. But look at what the Friedlands did in the last three years. There is no indication that their only plan is to shop for a partner and idling the project would only make sense in that case. Four years ago I told people about my impression that they seem to feel comfortable doing this

[schocor]

I am NOT comfortable with PGD going alone on this mine; and to be fair this is generally not Freidland style. They need a partner; same story for the last 4 years on that front

[mill44]

Don't forget, this was not Robert's project. Eric couldn't have dreamed about doing it alone. Robert came on board when Eric was shopping for a major. He needed someone to be able to continue with Chidliak. We have no idea what happened between them. It's quite possible that Robert is the major. That is the big unknown, but it cannot be dismissed if you invest in PGD.