Proactiveinvestors recommends
Additional Information
Market: TSX, OTCBB
Sector: General Mining - Coal
EPIC: PCY
Latest Price: C$0.25  (4.17% Ascending)
52-week High: C$0.63
52-week Low: C$0.23
Market Cap: C$55.87M
1 year chart
digital-look imported chart image
1 day chart
digital-look imported chart image
Watchlist/Portfolio

Add to watchlist:

Only registered members can add into watchlist !

Register here !
Prophecy Coal
www.prophecycoal.com

Prophecy Coal Corporation (TSX: PCY, OTC-QX: PRPCF, Frankfurt: 1P2) is an internationally diversified thermal coal production company that in November 2010 saw its first coal project, Ulaan Ovoo commissioned for production. The company controls over 1.4 billion tonnes of open-pittable thermal coal in Mongolia (839 Mt Measured, 579 Mt Indicated) between 2 distinct deposits with power plant plans for its second deposit (Chandgana's) well under way. Additionally Prophecy Coal Corp holds the Okeover Copper project and the Titan, Vanadium Iron ore & Titanium projects in Canada.

Full Prophecy Coal profile here
Is PCY a Buy, Sell or Hold?Get your FREE analysis of PCY
Pdf

Prophecy Resource submits formal application for 600MW Mongolian power plant

27th Apr 2011, 6:39 pm by Deborah Sterescu

Prophecy Resource Corp. (CVE:PCY) (OTCQX:PRPCF) said Thursday that after eight months of due diligence and studies, the company has submitted a formal request with the Mongolian ministry to build its planned Chandgana power plant.

Last August, the company, which is focused on energy, nickel and platinum group metals projects, appointed local Mongolian consultants to initiate feasibility and other studies on the planned 600MW Chandgana mine power plant, as Prophecy holds the Chandgana coal deposit in central Mongolia.

The necessary financial and technical analysis has been completed, including an environmental impact assessment for the facility, which was approved by the Mongolian ministry last November, and the feasibility study required to construct and operate the plant.

The 600MW thermal power plant will be connected with Mongolia's existing Central and Eastern energy systems, part of the long-term development policy of the country to supply cleaner energy.

The company said that as the project scales up to 4,200MW, there is potential to export the surplus power to China, with Beijing located just 1,000 kilometres to the south.

Once Prophecy receives the Ministry's formal endorsement, the company will proceed to work with the Mongolian Energy Regulatory Authority for the issuance of a permit. The application and permitting process is anticipated to take between three to six months.

Prophecy controls over 1.4 billion tons of surface minable thermal coal in Mongolia.

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.