PEREGRINE DIAMONDS ANNOUNCES A POSITIVE PRELIMINARY ECONOMIC ASSESSMENT FOR THE CHIDLIAK PHASE ONE DIAMOND DEVELOPMENT PROJECT
July 7th, 2016
Phase One development envisages a 10 year mine life at an annual average production rate of 1.2 million carats
After-tax Net Present Value of C$ 471 million, Internal Rate of Return of 29.8% and a capital payback period of two years
Conference call and webcast on Tuesday, July 12, 2016 at 8:00AM Pacific Time
Vancouver, Canada – Peregrine Diamonds Ltd. (TSX:PGD) (“Peregrine” or “the Company”) is very pleased to announce the positive findings of an independent Preliminary Economic Assessment (PEA) for the Chidliak Phase One Diamond Development (“CP1D”) of the CH-6 and CH-7 kimberlite pipes on the Company’s 100%-owned, Chidliak Diamond Project on Baffin Island, Nunavut, Canada. The PEA highlights that the CP1D represents a robust, high margin, ten-year, open-pit mining project with very attractive economics. Peregrine owns 100% of the 564,396 hectare Chidliak Project, where 74 kimberlites have been discovered to date, with eight currently being identified as potentially economic. The Company also owns all of the diamond marketing and sales rights and there are no non-government royalties or other encumbrances on diamond production.
Full announcement (in pdf format) here.
You also check it at Peregrine Diamonds website.