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Posted by: Owen Fullerton
July 20, 2018
De Beers Canada has entered into an agreement for the purchase of Peregrine Diamonds, including the Chidliak Diamond Project in Nunavut.
The Chidliak site is located about 120 kilometers northeast of Iqaluit on Baffin Island.
Kim Truter, CEO of De Beers, says Peregrine has already discovered and De Beers In Nunavut, Peregrine's work has identified 22 million carats in this resource, the pipes CH6 and CH7, and the CH6 of the two seems more attractive at first sight. So we buy all these pipes and we are interested in the Northwest Territories and Nunavut.
The purchase process is still ongoing, with the Peregrine board already voting in favor and the process now going to shareholders' vote.
De Beers Canada owns Gahcho Kue and the Snap Lake Mine in the Northwest Territories, and Truter says that a successful purchase from Peregrine will expand an already extensive presence in Canada.
With respect to mine sites, we have both In the Northwest Territories, at Snap Lake and Gahcho Kue, we own the Victor Mine in Ontario and if we succeed in this transaction, we will have badets at Nunavut. But all of this does not exclude our work and our exploration elsewhere.
The next step of successful purchase would be the integration of Peregrine into De Beers before further evaluation and work will begin in Chidliak.
Truter did not want to speculate on a chronology so early in the process
The plan of agreement should be completed in September
. Complete release of De Beers: http: //www.debeersgroup .com / canada / en / news / company-news / de-beers-group-between-agreement-to-acquire-peregrine-diamonds-lt.html
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