Peregrine Diamonds Ltd. (“PDG”) 2016-01-12
Peregrine hit the skids early this morning with the company’s recent yields from its Chidliak project in Nunavut. Though Tom Peregoodoff’s news release reads like a multi-volume novel it didn’t seem to impress investors. The stock has dropped as much as 19% on the selloff and is now trading at $0.105-$0.11 range on more than 2.175 million shares. Appears to have enough bids to support it in this level. PDG now awaits an independent valuation on the diamonds found in the latest sample. For investors “await” is an operative word with PDG. Next drill season will be next summer and perhaps more results this time next year. We suspect a good number of investors will simply go away and check back in 2017.