Wednesday, April 22, 2015
Stock and LDD update
Chidliak is 100% owned by Peregrine Diamonds.
Peregrine has had a recent rally that smacked right into the previous support level.
It has made a couple of attempts recently to get through it, but to no avail.
News from Chidliak may get this through that resistance and the side project in Botswana may help Peregrine Diamonds get more well known and also help the story continue.
There is plenty of cash still available to spend on Chidliak.
The LDD drilling is almost completed as the warmer weather is only a couple weeks out and use of nice solid ice is soon going to be removed.
Latest information is that CH-7 has had the majority of the drilling. CH-6 should get 1 hole. I believe the CH-6 is in the side domain that is in the TFFE category and hasn't had any valuation work completed on it. CH-44 is the trifecta of kimberlites, but is the smaller of the 3 (half the size of CH6 and CH7) and may get missed out for LDD drilling this year. I suspect CH-44 can also get a surface sample done in the future as well as it is not as multi-domained as CH-7.
I suspect a future program may lump the CH-44, CH-45, CH46 together as the three kimberlites are very close together and have the potential of making it to the mine plan.
News should be out on the LDD program and what the next steps are. Whether the 1000 tonnes go directly to Saskatchewan or if they go somewhere else first to get concentrated at a more effective cost.
Botswana deal should be closing soon as well. No news on that as of yet.