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De Beers Firmly Targets Canada as a Growth Zone, Following Its Joint Venture Gahcho Kué in the Country, with a C $ 107 Million Cash Purchase Offer from Peregrine Diamonds ($ 81 million)
It will be another mine in the frozen northern regions of Canada, where De Beers has experience in the construction and operation of mines.
This offer is supported by the directors and shareholders of the company representing 44% of De Beers closed and flooding its unprofitable Snap Lake mine in Canada, and the Chidliak Peregrine deposit will help restore De Beers' presence in the country
. De Beers is a joint venture with the Mountain Province of Canada at the Gahcho Kué mine, which has recently reached full production capacity.
De Beers, the world's largest source of rough diamonds in value, The Anglo-American subsidiary has undertaken corporate actions to replace the carat mine of its operations in Botswana, SA, Namibia and Canada.
Peregrine is the sole owner of prospect Chidliak, who has an alleged resource of 22 million carats. CDN $ 455 million to be put into production, including a contingency reserve of Can $ 55 million and an all-weather road to Iqaluit, the capital of Nunavut.
De Beers will return to the economics of the project, bringing his experience of Gahcho Kué.
Compared to Gahcho Kué, which ranges in content from 1.85 to 2.4 carats per ton and is valued at $ 60 to $ 100 per carat, Chidliak's most promising kimberlite tube has a cargo of ton for a value of $ 151 per carat
Cash Flow
According to Peregrine's studies, Chidliak would take 2.2 years to repay its capital and would have a pre-tax cash flow of 2 billions of Canadian dollars. 13 years of life.
"With a strong outlook for consumer demand, we are looking for new opportunities to invest in our future supply potential and look," said Bruce Cleaver, CEO of De Beers. developing our portfolio in Canada and working with community partners in the Nunavut Territory to continue the development of the project, "he said
Peregrine, whose last price was 16 cents Canadian, had a market capitalization of 71 M $ 1965-19002] De Beers pays a premium for the company, offering 24c of liquidity per share
De Beers said the prospect of Chidliak was "one of the undeveloped diamond resources the more attractive in Canada. "
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