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Peregrine's CH-6 Sample Returns Average Price of $213 per Carat

Feb 26, 2014 1:24 PM   By Jeff Miller
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RAPAPORT... Peregrine Diamonds Ltd. released  diamond valuation results for a 1,013.5 carat parcel of commercial-size diamonds that were recovered from its CH-6 kimberlite pipe at the Chidliak diamond project on Baffin Island in Canada. The average price was $213 per carat with the modeled price range from a minimum of $162 per carat to a high of $236 per carat with a base case modeled price of $188 per carat. 

Within the parcel there were four larger stones; an 8.87-carat diamond was valued at $4,076 per carat, a 5.83-carat diamond was valued at $3,455 per carat, a 4.62-carat diamond was valued at $2,900 per carat and a 4.11-carat diamond had a market value of $2,633 per carat, according to WWW International Diamond Consultants. peregrine diamonds

Richard Wake-Walker, the cofounder of WWW, said, "The shape, color and size distribution profiles of this parcel compare very well with current Canadian diamond production. It is very encouraging to see such high-quality goods from a relatively small parcel and at such an early stage in the project."

Eric Friedland, the CEO of Peregrine, said, "The results of the first diamond valuation from Chidliak are spectacular. The average price per carat and grade of this bulk sample clearly show that CH-6 could have rock value that is comparable with the richest kimberlites currently being mined. These results establish Chidliak as a world class diamond district. We are more confident than ever that planned bulk sampling beginning in 2015 of other known pipes at Chidliak with economic potential could lead to the development of Baffin Island's first diamond mine."

Tags: chidliak, diamond sample, Jeff Miller, Peregrine Diamonds, price per carat, valuation
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