Additional Information
Market: TSX, OTCBB
Sector: General Mining - Coal
EPIC: PCY
Latest Price: C$0.26  (8.33% Ascending)
52-week High: C$0.63
52-week Low: C$0.23
Market Cap: C$58.10M
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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.

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Prophecy Coal receives Mongolian government endorsement for power plant project

16th Sep 2011, 7:31 pm by Brad Lemaire

Prophecy Coal (CVE:PCY) announced Thursday that the Mongolian Ministry of Natural Resources and Energy has officially endorsed its proposed Chandgana Power Plant project.

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 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. It will be build directly beside Prophecy's permitted Chandgana Tal coal project.

The company said that as the power plant 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.

In April 2011, Prophecy submitted its application for power plant licensing to the Mongolian Energy Regulatory Authority (ERA), which has also received the endorsement. Prophecy said it expects for the ERA to issue its final decision with regards to its application in the fourth quarter of the year.

Prophecy also said that it has been in discussions with several engineering, procurement, and construction (EPC) contractors in the hopes of finalizing an EPC contract immediately following the receipt of the power plant license.

On the TSX-Venture exchange, Prophecy shares rose 7.58% to 71-cents as of 12:31 pm EDT.

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