Peregrine Diamonds Ltd. PGDIF

Technical report offtakes

[shneps]

Finally had a chance to skim through the technical report from Thursday. Just a few off takes I noted were the following: 1. Two years and $27million to complete a PFS (another 180 million shares at 15c). 2. Ten mineral leases pending. Of those ten leases 8 are obviously kimberlite areas and two are being moved to a lease position for mine infrastructure. I haven't had a chance to physically plot which kimberlites are being incorporated in the leases. 3. Environmental baseline studies have been reinstituted for this year, as none were completed in 2017. 4. DMS plant on site evaluation is ongoing and recommended to be completed. 5. PEA for CH6 U/G recommended as work for CH6 and CH7 PFS are ongoing. 6. All trenching/LDD permits in place for winter 2019 program. Personal conclusion. Something has to break very soon as there cannot be much money left in the coffers. Work continuing forward as per recommendations of previous studies. I have a feeling we will see either, a) $15-$20 million PP from Sprott next week or two. Remaining required monies in a future rights offering or PP. b) Outright sale. c) Announcement to will increase share value at least 2-3 fold and nail us with another rights offering, followed by 10-1 share rollback. Arghhh..... Oh well. We'll see soon perhaps. Cheers

[shneps]

I forgot to mention about a huge project contribution is the scheduled completion of the deep water port in Iqaluit by November of next year. Without this deep water port the progress of the project would have been virtually impossible to achieve even with throwing a ton of cash at the offloading of supplies. PGD will require 20 million litres of tank capacity. The current city tank farm system is

[ekim]

80 million litres? I thought the QEC just in the process of upgrading the capacity from 6.5 million litres to 13 million litres. The good news is that they have just recently been through the permitting process themselves. So adding the 2 x 10 million litre tanks into the iqaluit tank farm should be straight forward. LONG...PGD EKIM

[shneps]

That is for the entire tank farm capacity including jet fuels, diesel and gasoline. https://www.atcosl.com/en-ca/Projects/Operational-Support-UQSUQ

[ekim]

Thanks shenps. The QEC related fuel must be specifically for power generation at the diesel plant only. LONG...PGD EKIM