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Additional Information
Market: TSX, OTCBB
Sector: General Mining - Coal
EPIC: PCY
Latest Price: C$0.25  (3.13% Ascending)
52-week High: C$0.63
52-week Low: C$0.23
Market Cap: C$55.31M
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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
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Prophecy Resource and Pacific Coast begin 8,000m drill program at Wellgreen

2nd Jun 2011, 8:51 pm by Deborah Sterescu

Prophecy Resource Corp. (CVE:PCY)(OTCQX: PRPCF) and Pacific Coast Nickel Corp. (CVE:NKL) said Thursday that they have begun a drill program to expand resources at the Wellgreen platinum group metals, nickel and copper project, located in the Yukon Territory.

The program initially began by Prophecy and will be completed by Pacific Nickel, after an announcement yesterday that shareholders approved the sale of Prophecy's Wellgreen and Lynn Lake properties to Pacific.

The program, which will comprise of 8,000 metres of core diamond drilling from May to September, will use up to three drills to test a minimum of 17 infill and exploration targets.

The campaign is designed to add to the existing resource, which is currently being updated to NI 43-101 compliant standards by Wardrop Engineering. The non-NI 43-101 compliant resource is estimatedat 55 million tonnes grading 0.35% copper, 0.36% nickel, and 0.78 g/t platinum group metals.

The upcoming resource estimate, based on 701 historic drillings before 2011, is expected to be released in July of this year.

In 1972, Hudbay Minerals milled 171,652 tons, grading 2.23% copper and 1.39% nickel on the Wellgreen mine. The mine then ceased operations due to low nickel prices and poor ground conditions, Prophecy said.

Drillings by past operators since have verified the presence of lower grade nickel-copper and platinum group metal-bearing mineralization, highlighted by intercepts of 496.1 metres of 0.596 g/t platinum group metals+gold, 0.27% nickel, 0.18% copper and 0.02% cobalt.

Wellgreen is part of Kluane Ultramafic Nickel belt, which is the second largest behind the Thompson Belt in Canada and remains vastly unexplored.

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