Peregrine Diamonds Ltd. PGDIF

You Can Stick a Fork in It

[Oregonduck]

In any bidding wars speculation, the target stock price will invariably be rising above the current bid, driven up by speculators...PGD shares are stock like molasses. Also, the takeover has the backing of Management and approved by the court under the Plan of Arrangement regime. As for hostile bid, the disclosure requirement for creeping stock purchases is triggered when the acquiror (including others acting together with the acquiror) crosses the 10% level in Canada or the 5% level in the United States. If a formal bid by another bidder (i.e. De Beers) is already outstanding, the threshold becomes 5% in Canada for a hostile bidder. Some of all those talks about another potential "White Knight" buying up all the PGD shares in the open market is bunk...This takeover deal only makes economic sense for DeBeers...(Source: https://www.timminspress.com/2018/05/24/victor-closure-may-be-the-last-seen-of-de-beers) DeBeers commented on the following to the Timmins Press about the closure of Victor Mine and future diamond mining, "...This will include the deconstruction of buildings, the removal of large pieces of equipment and the reclamation of the land...Ormsby said the company has been exploring a variety of options in an effort to come up with a technique or method that makes economic sense... Could we do this with a different type of workforce that is so multi-skilled that you dont have to have one person for every job but maybe one person who has the skills to carry out four different types of work so when they are not needed over here, could they do they do something over there? Do we need to build something that was literally built into the ground? Can we do it moderately? Can we bring things in on the back of a tractor-trailer, you do it for five years and then you pick it up and move it again? Thats what were trying to figure out. Weve got the classic use-a-giant-truck, use-a-giant-shovel is there another way to do this and can we do without all the stripping of the non-economic materials? Is there a way we can just focus on that? So weve looked at a variety of not only mining techniques but drilling techniques around the world Were looking at everything. If we came back, what would make sense and how could we do it differently? We would need to be prepared for a cost structure that would give us a chance...

[ekim]

Thanks for clarifying the rules Mr. Duck. 4.99% >> 5% Makes perfect sense to me. Let's do it. LONG...Whiteknight! EKIM

[mill44]

I think "long" is a bit overdone, maybe "longish"?

[cudjo]

more like "not much longer", ekim has put a great deal of blood sweat and tears into his support of pgd, and has had the patience of a rock, like watching a great athlete toiling for years for his team, and never making it to the championship, I do hope he will see his white knight, time is running short.  Good luck

[cudjo]

the one thing that I think is forgotten in the desire for a white knight is neither of the bros here are stupid people.  You have to assume that they would have shopped this around to as many suitors as possible when looking for funding to move ahead.  Management finally admitted they had diluted the stock to a point of exhaustion in the NR, which was cute, remember, rights are not