Peregrine Diamonds Ltd. PGDIF

The numbers

[mill44]

are decent, the project is ok. About us, shareholders, hard to predict what is goig to happen to us. Spent 15M on the first PEA, got decent returns (if you sold). Spent another 11M on the next one and we are where we were before. Drill results are back, PEA is out, there is nothing to look forward for support the SP. Nothing except speculation about a partner. There is no reason for the management to hold out, they either announce a deal or a rights offering. One way we are laughing to the bank, the other way we are screwed. The good news is that Tiffany's reported excellent results, DeBeers sees improving markets, so a deal is not impossible. That is if the Friedlands have any intention of selling.

[Kidlapik]

Just want to chime in that as a Canadian investor I do not see another rights offering as being screwed, just that I am not paid out as quickly as if they have a partner on great terms lined up right now. I would much rather see another rights offering than a deal that sells this thing for peanuts.

[cudjo]

kidlapik, on the rights question, if they go it alone and need another 25 million plus to get where they need to be, assusing they would be ready for a FS then, how is it shareholders are not screwed when they issue another 250 million dime shares?  How do you see the share price ever advancing to a point where shareholders will get a roi?  Help me with your logic, forget I live in the

[Kidlapik]

Same back and forth again. This comes down to this, do you believe there is going to be another rights offering or is there going to be a deal? If you think there is another rights offering either sell and move on, or be prepared to participate / sell at a loss later. If you think there is going to be a deal you should buy now because when/if a deal is announced it will be too late. Thats it

[cudjo]

thanks kidlapik, why is it it always turns to, sell, if you dont like it, from longs.  There has never been a serious discussion about the dilutive aspect of issuing hundreds of millions of dime shares  other than from mil or myself.  The ones that have been issued in the past is what holds this back now, despite all the good news, how is more going to help in the future? 

[Kidlapik]

Im not trying to be disparaging to your position Cudjo but you have to admit this discussion does come down to those two factors. If you feel there is going to be a rights offering or if you feel there is going to be some other kind of financing. I have already expressed my position regarding rights offerings numerous times along with the investment time frames I am comfortable with here. They

[mill44]

I have no issues with rights offerings in general. My issue is with Pgd. The rights offerings in their case lead to nothing but wasted time because the market knows that they will be back with more discounts. That's the only way if they are going alone.

[schocor]

Stop ascribing numbers to me Cudjo. Once again I have no idea what you are talking about regarding $25M - and I am sure I never put forward a number like that in any other context than a discussion point or rough as guts estimate. Do you understand what context means Cudjo? That's where there is a focal point to a conversation.

[mill44]

It is not the rights offering that is the problem, it's the goal they would want to achieve with the money. If PGD is talking with other parties, the only reason the talks are not going anywhere is the price. Adding 100M shares to the float and proving the project up will not make it cheaper. A sale at a mere 50c after the next step would cost the third party an extra 50M. They could take the

[cudjo]

in other words, rights again, deader than dead money and the bros never intend to sell or partner and will use as much of the retail lemmings as they can to advance.  Pretty sure way to make a good NPV disappear into a pile of paper, for the longs, hope it never comes to pass.  Good Luck.

[schocor]

It costs money to bring diamond mines into production. We have a very good NPV (still very small compared to what it will be). I am happy to continue to invest in this as an OWNER of the project - but I would prefer a partner. If you can't participate in the rights offerings and choose to wine about them as being dilutive - well I don't rally care about your opinion as it is not my

[griefman]

Someone here needs to win the Lotto Max which is $60 million..sorry Cudj, I don’t think you can win but you can buy tickets!!   Hmmm, sounds familiar. 

[cudjo]

good luck with the lottery kodi, will buy some when i am up north this summer, if I win, party in Vancouver on me, promise.  Thanks again for the level 2.  Best of luck

[Kidlapik]

I advise all PGD potential and current shareholders to go view the March 2018 corporate presentation here: https://www.pdiam.com/assets/docs/2018-02-26-PGD-Investor-Update.pdf Look at slide 13; How does Chidliak compare? and consider the NEW PEA...... Completely smokes Jay, Renard and Back River and is quickly approaching Gacho Kue levels. Renard got built, Gacho Kue got built, Back River even

[griefman]

So what’s to worry about, eh? Renard and Gacho Kue are not exactly returning great numbers in their early mine life and there is a lot of concern on those forums.

[shneps]

It's a good point Kid. What I would also suggest is to read the Gahcho Kue Feasibilty Study and you will see that Chidliak is now better than Gahcho's numbers. Start reading around page 250 of the report. Keep in mind it took them almost 22 years to build that mine from exploration and they had $140 milllion (sunk cost) before the JV, $260million before actually execution of construction

[griefman]

Many believe that the only reason MPVD’s play, GK, was developed into a producing mine were the deep pockets of the three TIGS...plain and simple.

[mill44]

You don't have to care about other opinions, it's your money, you do what you want with it. My opinion is out there for others to consider, together with yours and Ekim's. With just those out there anyone interested would be scratching their heads trying to figure out why this is trading at 17c. Ekim is talking about Cudjo's made up numbers and how one should just ignore them. His