Peregrine Diamonds Ltd. PGDIF

"Full Technical" Report - Thought

[schocor]

Well that full feasibility PR certainly did not shine any more light on the project. There must be a more detailed document/mine design out there and this is but a summary of that piece of work. Good news; not much changed. They are still looking at an open pit mine on CH6 (to 250-300M depth) and this desktop exercise was to re-model/optimize the mining method/sequence/plan using some computer based tools. This is usually the work you give to a 1st or 2nd year P-ENG. Honestly, it seems like a bit of a nothing burger, which makes me wonder WHY they did, why they did it NOW and what PURPOSE it serves. Something tells me the answer is the upcoming Sprott conference, but I do not know the question. Meh wait and see I suppose. The language about these resources not being recognized as resources is a nothing burger as well. If they greenlight a mine tomorrow, ALL CH6 and CH7 ore become reserves as it moves out of resources. I tell you what; if I had $40M right now a partnership deal to fund a DMS machine and two years of trenching work at Chidiak is how I would invest it. Quickest was for humans to generate wealth is to find a good patch of earth to dirt. CHildiak is a very prospective place to find said magic dirt; we have a fair bit (10M tonnes) but we will need about 2-3X that to guarantee a mine. I think we can get to that 30M total ore if we strategically target large tonnage economic pipes the more diamonds the better obviously but they JUST need to be economic to mine and process to greenlight construction. Not bad news; not good news; not even really sure this qualifies as news but this is as GREAT project.

[mill44]

Unless you are here to call yourself a diamond mine owner, the only thing you are looking for is something that generates momentum for the SP. One thing is for sure, barring an outright sale (that would give you enough momentum), the company will need money tomorrow. That could come from a DISCOUNTED rights offering (you get your momentum, but not the momentum you are looking for as a shareholder)

[schocor]

Personally, I am looking at this more from the Friendland's perspective than Mill44's perspective. Longer term - not momentum. Still need a partner, still need money but I have 20+ year to watch this one (If I need to).

[mill44]

That is not a bad strategy, as long as you are just watching it and not investing in it. Put your money in a GIC while you are watching this.

[schocor]

I think you want to be invested; if/when a partner is announced the upside should be significant and instantaneous. Conversely, a rights offering tomorrow would be bad for the stock price. You have market makers (this is what Sprott does) with a vested incentive to get this stock price up (2M warrants?). Waiting is what is required here; but when these things turn, they turn FAST.

[mill44]

Agree, you want to have a stake in it, but an announcement about a partner is the only upside. Forget about reports and such. So unless you are counting on it, you shoud not be too invested in it. Even with an average return on your investment somewhere else, with that compounded over the years and reduced risk, in 20 years you would need to get 4-500% gain in PGD and still might not be worth it

[robybob]

Schorcor, sorry if I put words in your mouth, not my intention, but you have posted here that you would be okay with more rights, that is what I mean by More of the Same.   If your position has changed, perfect, I concur, people change thier minds, myself included. To your "great project" comment, this project will only be "great" if they partner, if they continue down

[schocor]

No. I have literally never said that I am "okay" with more rights. Never.

[robybob]

sorry to disagree, you have

[schocor]

Well if you can pull it out I will eat my words. But as I have never been a fan of the rights, there is no possible way I would have said that I am "okay" with them. I am sure I have said they "were not terrible", "we have made money off them", "they kept the project going with no funding" - things like this. But you should know better than to put words in

[griefman]

It basically comes down to what you want to do, and that may differ from the norm but then who gives a frick and who has the right to say you are wrong. If your inclination is to hold for 20 years no matter what, so be it...I for one would never do that, but it’s your choice, your decision.  Its laughable that someone would claim that they don’t make predictions, when they do constantly