Good evening PGD

By the way, I'm long.

To quote Braveheart, "Some men are longer then others." I digress.

I read the presentation again and picked out a few items. Any comments are appreciated.
I know gold, silver, and base metals.... diamonds aren't my forte.
That said, when I subscribed to Kaiser, numerous people told me to pay attention when he gets behind a diamond stock... I am a listener. Mrs Wallace thinks I have and ego. And my daughter thinks I'm gassy. Take it or leave it!

• Peregrine has operated all exploration programs and will operate again in 2011. A 7% management fee is payable to Peregrine.
• Each party markets their pro-rata share of the diamonds. If BHP Billiton sole finances a feasibility study, they retain 100% of the marketing rights for the first 3 years of diamond production.

cwallace comment: The management fee is not small potatoes. But, the marketing is important. I'm not sure if the first years will be the highest production, but, they will be higher then the last years. They get 100% instead of pro rated... that is something important in this business. How the cards are played, who knows.
I suspect BHP will be in, but, not surprised either way. BHP has too much money and cash flow, even with POT considerations, to mess around. If they don't opt in, I have no doubt the cat and mouse game is on.

5 of 18 kimberlites tested by Peregrine at Chidliak and reported to date have economic potential: CH-1, CH-6, CH-7, CH-28 and CH-31
– All five have produced coarse diamonds
cwallace comment: a .277 batting average won't get you in the hall of fame in Baseball... pretty high in this sport.

“The microdiamond results from CH-6 are some of the strongest I have seen in my 28 year career in diamond exploration, and to my knowledge, are the best publicly disclosed microdiamond results from a Canadian kimberlite since the discovery of the A-154 at DiavikTM 1994 ” – Brooke Clements of Peregrine Diamonds Ltd.
cwallace: re-read this line for an hour. make this your manta.

regards
cwallace