De Beers Canada has opted not to exercise its option in the Chidliak Project, which is a joint venture with Peregrine Diamonds.

Under the agreement, De Beers had the exclusive right until Dec. 31 to enter into an earn-in and joint-venture agreement for the project on a 50.1 per cent De Beers/49.9 per cent Peregrine basis. If De Beers did not exercise the option, Peregrine was not obligated to refund the $6.3 million already spent … Continue reading De Beers pulls out of Chidliak Project