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@ekim So many options..but why not? Rio Tinto takes on 51% and becomes active operator for Chidliak in exchange for paying for Chidliak through to construction and operation with payback of PGD's share of the Capital cost through operating cash flow. Shortly after, Haywood does a PP for 10 million shares at 75 cents to paid the treasury of PGD to roughly $9 or 10 million and they can explore elsewhere while chidliak is developed. Or Rio Tinto just buys out PGD for 80 cents to a dollar a share and the technical staff they want to keep are just moved over to Kaizen.
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@Fried Robert Friedland Tribute Video - CMHF 2016 A video tribute to 2016 Canadian Mining Hall of Fame inductee, Robert Friedland https://m.youtube.com/watch?v=pWu8ijePCXI $IVN $CDB $KZD $PGD $GXU $COPPER $GOLD $SILVER $ZINC
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@ekim Rumour mill suggest PGD mgmt might be in Africa. Technical visit to Botswana or maybe a JV discussion visit with Petra Diamonds or Bruce Cleaver and De Beers? #diamonds
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@T @JKaiser..... $pgd?
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@ekim @T missed the live show today...But saw your question. Did JK comment on pgd at all? Thanks.
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@T @ekim no, I asked right at the end so it didn't get answered. hadn't heard of any update from him in a while so figured I would ask. Not sure if he has written anything recently or not
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@ekim Thanks @T Quarterlies out last night. They have about $1.5 million give or take right now. Need to get a deal done soon.
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@T thought they had more cash than that. do you have any guesses as to what the deal may look like @ekim? im seriously surprised that we are still sitting at .20. yes the everhang blah blah but this company just seems like it has so much potential and worth way more than the $65M they are valued at right now.
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@T also do you know anything about what is going on with their property in botswana?
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@ekim @T at the very least, we know the botswana play is not dead. -- "Sampling for kimberlite indicator minerals occurred on an additional ten new kimberlite-like geophysical targets. Results are currently pending and will inform potential plans for 2017. " They have left the door open for possibilities. Sounds like they must be looking at the theoretical side of the results before spending $$s there.
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@ekim @T it is frustrating with the market cap. If the market valued them at $150 million (which I would consider reasonable)....they could easily dilute 10% and raise $15 million this year and again next year if they wanted to...and still go it alone. It is tougher with $65 million market cap let alone the $35 million they have been at in the past.
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@ekim Still waiting for final confirmation of approval on the water permit amendment. I'm not sure what NWB is taking. Comments closed a month ago and all comments were either no comment or good. No concerns at all. It is really the last item to make the march/april/may winter programme at 'Turn-key' operation. All equipment and supplies will already be onsite and this permit confirmation should be the last thing. I wonder if the need for the it being 'Turn-key' is a pre-requisite for any deal to be signed on the dotted line.
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@ekim I would probably not suspect PGD will not be a bought out. I think Eric and team still want to keep the name and team together for further exploration (including Botswana). Chidliak is getting to the point where it will need a developer/operator to spend $$'s and work on it. I don't think PGD has the right skillset to really advance this to a full operating mine. A Joint venture I think is in the best interest for the investors and also the best thing for the PGD team. If they can get a MPVD/DBC deal done similar to Gahcho (not exactly similar...but the likes of that)...that leaves PGD to focus on other things whereas the JV would takeover operating the project. This is where I see the flaw with MPVD. In my books...they are not the operator of Gahcho Kue and are basically a company trying to reap profits from Gahcho Kue while doing nothing else. Why isn't MPVD looking elsewhere for exploration or other projects...it makes little sense to me. I think MPVD just wants to be gobbled up and disbanded.
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@ekim $PGD worth only 2x $DVI? Regardless of what one thinks $PGD should be worth with the PEA, etc....it sure as h$ll is worth a lot more then 2X $DVI.
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@ekim I see $DVI is also popping up in advertisements on Stockhouse. They must be on full on promo
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@ekim Time is ticking to the winter programme for early March. They have cash in the bank for about 5 months without adding to the coffers and foregoing the winter programme. My current guess is an all out buy out of $PGD by Rio tinto. JV might be still on the table...but if the likes of Rio tinto already think Chidliak is on the small side...why would they want only half of it. News within 2 weeks?
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@ekim New corporate presentation $PGD -- https://www.pdiam.com/assets/docs/2017-03-01_pgd-pea-investor-update.pdf A few extra slides showing superior coarse distribution over benchmark pipes. They will be at PDAC with a booth in the investment area over the last 2 days. Same booth that Auryn resources is using for the first two days. #diamonds
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@marketwired Peregrine Diamonds Completes Internal CH-6 Open Pit and Underground Mining Study and Revises 2017 Work Program @marketwired/peregrine-diamonds-completes-internal-ch-6-open-pit $PGD
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@Vaughan Past pick number 3: peregrine diamonds $pgd . Discovery is one of the best in years. Its on baffin island close to Iqaluit. No caribou issue kaiser says but it has been a disapointment. $sbb on the mind John? #marketcallPDAC
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@ekim JK also said -- "One of the best diamond discoveries in the last 6 years." in the interview. --Link to video -- http://www.bnn.ca/video/john-kaiser-past-picks~1071826
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@CautiousNow @ekim Fingers and toes crossed that not another way below market rights offering. It looks like the program is designed to enhance the size of the project in order to entice a buyout. Given the fixed costs for the initial development (e.g., the road), a modest expenditure that enhances the scale and reduces the risk offers a very attractive potential incremental return. They should also be allocating significant effort on the political side to try to obtain some sort of joint funding for the road.
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@ekim @CautiousNow great points. I get the feeling that the news release yesterday wasn't for us, the retail peons...but for all the players interested in getting into Chidliak before it becomes a $1 billion NPV project. This game of chess is killing me and it sounds like Eric/Robert are still inviting players to the game. Incremental, high value, revenue will benefit any project. CAD$2 billion of 250m to 500m underground material should do absolute wonders to the bottom line.
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@ekim They declared a discounted rights offering when the share price was over 40 cents..but they did not declare a pricing on it...but declared that it had a full stand by agreement. That lake of share price confused the retail investors to no end. The share price drifted down to 29 cents before they announced a discounted from that 29 cents to 21 cents. The whole...we are going to finance...but we are not naming a price yet...ugh. This recent press release did not announce a discounted offering...however, it did announce a firm commitment to the ability to raise at least CAD$7.5 million...but again is lacking in detail on pricing/how. Market is shrugging off good news about the potential underground option because of this uncertainty. More confusion. This confusion is probably the #1 reason why the stock is stuck at 19 to 20 cents...it is just stuck.
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@ekim A bit of an update on the blog with the summer field program announced -- https://chidliak.blogspot.ca/2017/03/2017-summer-program.html #diamonds
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@zeus There is a lot of venture money floating around in the world .... can someone explain why PGD is in a constant struggle to find even a small silver of this available capital? Goldquest just received 23 million from a major ....
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@zeus small sliver
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@ekim @Zeus I have been scratching my head on $KDI 's news release on Friday..let alone $PGD 's options. Fundamentals are sound at Chidliak and the a 10% dilution would generate a lot more money at a market cap of $150 million versus the $70 to $75 million they sit at now. The plus side is that they have been down in the $30 to $35 million market cap not that long ago. I suspect a 10% dilution inclusive of some premium flow through maybe in order as $PGD goes it alone for another 10 months up until the updated PEA shows the project even more robust then ever.
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@ekim Updated the list of potential acquirers for $PGD #chidliak with the addition of this Washington Group of companies ($DDC) -- https://chidliak.blogspot.ca/p/potential-acquirers.html This same list would be relevant to other diamond players like $NAR $KDI $DVI $DIA etc. #diamonds
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@ekim CIBC just bought a small chunk 15:42:19 T 0.205 0.01 27,500 79 CIBC 7 TD Sec 15:41:46 T 0.205 0.01 38,500 79 CIBC 7 TD Sec 15:41:46 T 0.205 0.01 3,000 79 CIBC 7 TD Sec 15:41:46 T 0.205 0.01 6,000 79 CIBC 124 Questrade 15:41:46 T 0.205 0.01 10,500 79 CIBC 7 TD Sec 15:40:56 T 0.20 0.005 2,500 79 CIBC 19 Desjardins 15:32:54 T 0.20 0.005 6,000 79 CIBC 85 Scotia Stock has significant support and also significant resistance. Stuck
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@CautiousNow Seems like yesterday when I was sitting at a Cambridge conference in Toronto worrying whether I was doing the right thing by selling 3,000 shares at $4.28 that I'd bought at 50 cents....Where's a time machine when I need one?
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@ekim @CautiousNow I remember the 30 cent rights offering before that and was wondering if I should buy more shares as I had an abysmally small amount of shares. It rallied to $2 on the CH-6 then Kaiser on BNN took it to the stratosphere then it fell back to earth in short order. $4 x 72 million shares for 50% of Chidliak gave an enterprise value of Chidliak at CAD$576 million. Now Chidliak has an EV of CAD$70 million with a NPV (after tax) of a half billion Canadian with more to come. The CAD$7.5 million programme this summer could really raise the NPV to CAD$1 billion after tax NPV...but as always..I don't know what Enterprise Value the market should give. It was over optimistic at $4.28...so no reason it can't be overly pessemistic at $0.20. I would suspect the reason it went to CAD$600 million is that it drilled through the super high grade of CH-6 and there were a lot of geophysical anomalies around and no one knew if there are other twins to CH-6 in value or maybe even better. That didn't not turn out to be reality..but I don't think the speculation was misplaced..maybe a bit exhuberant.
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@CautiousNow Yup....Not sure we'll ever see that type of enthusiasm again post 2008. I remember one on the AB Exchange before Bre-ex that I think went from 17 cents to over $20 in two days based on "visible metal in core". Think it may have been Cartaway.
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@ekim Apparently the proper terminology is SFD - Size Frequency Distribution Curve. Both $NAR and $PGD use that acronym and naming. As opposed to the term coarse distribution.
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@ekim Had a great meeting at the $PGD AGM today. #diamonds. Met a couple of fellow shareholders. They were bonafide Stockhouse lurkers...but never heard of ceo.ca. I mentioned it to them...but it also indicates that there is plenty of room for marketing of this forum.
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from #index,
@marketwired Peregrine Diamonds Announces Results of Voting for Election of Directors @marketwired/peregrine-diamonds-announces-results-of-voting-for $PGD
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@ekim $PGD is planning to utilize some horizontal drilling while it drills down to 500 metres deep at Chidliak this summer -- https://chidliak.blogspot.ca/2017/03/proposed-summer-drilling.html #diamonds
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@ekim $PGD 's CAD$7.5 drilling+ programme this year could net an extra CAD$500 million to the NPV of Chidliak. I discuss it on my latest video post -- https://chidliak.blogspot.ca/2017/04/video-drilling-and-pea.html #diamonds
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from #index,
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@RocketRed @ekim $pgd cash 2,069,215 Dec 31
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from #index,
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@ekim @RocketRed they have less then that now. Probably about 3 months of cash if they are lucky. They said at the AGM that they are confident in getting the $$'s as they indicated in the last public news release. $PGD
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@ekim Haywood on the buy side today. Still waiting on a financing deal that may include Haywood as an underwriter. 15:13:59 T 0.195 0.01 10,000 62 Haywood 85 Scotia 15:13:59 T 0.195 0.01 18,500 62 Haywood 2 RBC 15:13:11 T 0.195 0.01 11,500 62 Haywood 2 RBC 14:45:59 T 0.195 0.01 212 36 Latimer 2 RBC 14:45:59 T 0.195 0.01 1,000 62 Haywood 39 Merrill Lynch 14:45:59 T 0.195 0.01 2,500 62 Haywood 7 TD Sec 14:45:59 T 0.195 0.01 54,000 62 Haywood 2 RBC 14:45:10 T 0.19 0.005 4,000 62 Haywood 99 Jitney 14:45:10 T 0.19 0.005 9,000 62 Haywood 99 Jitney 14:45:10 T 0.19 0.005 1,000 62 Haywood 39 Merrill Lynch $PGD #diamonds
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@ekim Paul Zimnisky list of nonproducing diamond mines and development projects -- http://www.paulzimnisky.com/non-producing-diamond-mines-diamond-development-projects $SGF $PGD Pretty thin list. This is a worldwide list...not a Canadian specific one.
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@ekim Nice end of day chunky buys from BMO 15:49:02 T 0.19 90,000 9 BMO Nesbitt 58 Qtrade 15:49:02 T 0.19 1,000 9 BMO Nesbitt 39 Merrill Lynch 15:49:02 T 0.19 25,500 9 BMO Nesbitt 7 TD Sec 15:49:02 T 0.19 23,000 9 BMO Nesbitt 80 National Bank Must get this needed $7.5 million cash injection for the summer program out of the way. Hopefully hear somethign in the next 2 to 3 weeks.
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@CautiousNow @ekim Thanks for your continued efforts to get the story out on this one. I hope that there's a lot of backroom work being done with the governments to try to get some infrastructure support funding on the road as a platform for regional development and jobs for the north. Lowering the road costs would have a pretty big impact on the project economics. Fingers crossed at funding on terms that aren't too unfavourable to retail.
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@ekim @Cautiousnow I try. Paul Zimnisky is now starting to list Chidliak in his forecasts as a very viable entity - http://www.paulzimnisky.com/2017-global-natural-diamond-production-forecasted-at-142m-carats-worth-15-6b The liberals haven't launched the infrastructure bank that is still in the works. Supposed to be officially launched htis year. I basically think it is a way for the government and private investors to group money together to help loan out affordably to infrastructure type projects in need...the private investors should be guaranteed by the government. It will be interesting to see how that unfolds. We wait. Wonder if Ross Beatty and Electrum could double dip in the diamond industry and invest in $PGD as well as $NAR. It sure would make a statement for them.
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@ekim Government of Canada's labour report from earlier this year specifically highlighted Chidliak as a mine development project over the next 2 years -- http://www.edsc-esdc.gc.ca/img/edsc-esdc/jobbank/LMBs/201701/WT/LMB_YT-NWT-NU_2017_Jan.pdf Sounds like they are including as a good labour opportunity.
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@CautiousNow @ekim Thanks for your insights. The government would greatly enhance the ability to generate jobs with that regional infrastructure investment, as it would make a huge difference to the NPV and the ability to finance the project.
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@ekim A lot of whining and complaining about gold related stocks that come out with bad results no hope of a positive NPV in any of their projects and yet several of those have higher market cap then $PGD that has a half billion after tax NPV and will be heading to almost a billion after tax pontential with its deep drilling program. Keep adding value to a project...and regardless of commodity...money will eventually flow into it. It just takes a h#ll of a lot more value add in a diamond project as compared to a gold project. Lot of people are wearing gold coloured glasses.
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@JamesKwantes A few less successful ones, too: Pilot Gold $1.04, Peregrine Diamonds .51 $PLG $PGD
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@ekim Integra gold was just bought out by a larger company. Yet another project we can compare the economics/parameters/etc. and see how competitive Chidliak is to all these projects that get taken out in the gold sector. Integra and also Coffey project. All of them are comparable to chidliak and chidliak will be possibly doubling up the economics with the deep drilling in the summer and will no longer be competitive with these other projects and will be superior...and why is $PGD discounted so much from these Canadian plays? You got me.
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