Prophecy Coal (TSX:PCY) Begins Trading on Toronto Stock Exchange - Video Summary of Company Posted on www.InvestmentPitch.com
Vancouver, British Columbia, October 20, 2011 - Prophecy Coal (TSX:PCY) is one of the latest new listings on the Toronto Stock Exchange, having graduated from the TSX Venture Exchange.
InvestmentPitch.com has produced a "video news alert" about Prophecy Coal. If this link is not enabled, please visit www.InvestmentPitch.com and enter "Prophecy" in the search box.
Earlier this year, the company spun off Prophecy Platinum, which trades on the TSX Venture Exchange, under the symbol "NKL", in order to focus on its coal projects.
Prophecy Coal is developing energy projects in Mongolia. The company has more than 1.4 billion tonnes of surface minable thermal coal resources on two coal properties in Mongolia.
Jay Taylor, publisher of J. Taylor's Gold, Energy & Tech Stocks newsletter, gave Prophecy Coal a buy recommendation last month. Jay Taylor believes that the company's very substantial coal holdings in Mongolia offer shareholders major upside potential
The new producing mine is the Ulaan Ovoo Mine, which has a 20 million tonne reserve and a 209 million tonne resource of high quality thermal coal. A single-seam, 50 metre thick coal seam, and a strip ratio of 2 to 1, should make this a relatively low-cost mining operation. 230,000 tonnes of coal have already been stockpiled. Although geophysical surveys suggest significantly more coal exists at this mine, even the present reserves and resources suggest a minimum mine life of 20 years.
The second project, which Jay believes is potentially far more significant, is the Chandgana Project. The company expects to hear from the Mongolian government in the near future, regarding the issuance of the license for this project. The resource here is 1.2 billion tonnes of thermal coal, but longer term this could get much bigger with some 100 square kilometres of prospective claims. Plans are to use this coal to fuel a power plant to be built at the mouth of this open pit mine, to initially serve Mongolia's electricity demand and then later to increase the plant's size to sale into Beijing and other Chinese markets which are starved for more electricity.
The current timeline has construction beginning during the second quarter of 2013 and for the project to be completed by 2015. Jay believes the anticipated bankable feasibility study should bolster confidence in this project.
Prophecy Coal trades at $0.50, and with approximately 195 million shares outstanding, is capitalized at $98 million. Prophecy Coal still holds a 45% interest in the spinoff company, which contributes approximately $0.30 to the value of Prophecy Coal's shares.
For a more information on Prophecy Coal, visit their website www.prophecycoal.com, phone Chris Ackerman at 800-459-5583 or email cackerman@prophecycoal.com.
InvestmentPitch.com is a multimedia company that provides a combined solution for creating, hosting, and distributing financial video content across multiple platforms to investors and financial professionals.
CONTACT:
InvestmentPitch.com
Barry Morgan, CFO
bmorgan@investmentpitch.com
InvestmentPitch.com has produced a "video news alert" about Prophecy Coal. If this link is not enabled, please visit www.InvestmentPitch.com and enter "Prophecy" in the search box.
Earlier this year, the company spun off Prophecy Platinum, which trades on the TSX Venture Exchange, under the symbol "NKL", in order to focus on its coal projects.
Prophecy Coal is developing energy projects in Mongolia. The company has more than 1.4 billion tonnes of surface minable thermal coal resources on two coal properties in Mongolia.
Jay Taylor, publisher of J. Taylor's Gold, Energy & Tech Stocks newsletter, gave Prophecy Coal a buy recommendation last month. Jay Taylor believes that the company's very substantial coal holdings in Mongolia offer shareholders major upside potential
The new producing mine is the Ulaan Ovoo Mine, which has a 20 million tonne reserve and a 209 million tonne resource of high quality thermal coal. A single-seam, 50 metre thick coal seam, and a strip ratio of 2 to 1, should make this a relatively low-cost mining operation. 230,000 tonnes of coal have already been stockpiled. Although geophysical surveys suggest significantly more coal exists at this mine, even the present reserves and resources suggest a minimum mine life of 20 years.
The second project, which Jay believes is potentially far more significant, is the Chandgana Project. The company expects to hear from the Mongolian government in the near future, regarding the issuance of the license for this project. The resource here is 1.2 billion tonnes of thermal coal, but longer term this could get much bigger with some 100 square kilometres of prospective claims. Plans are to use this coal to fuel a power plant to be built at the mouth of this open pit mine, to initially serve Mongolia's electricity demand and then later to increase the plant's size to sale into Beijing and other Chinese markets which are starved for more electricity.
The current timeline has construction beginning during the second quarter of 2013 and for the project to be completed by 2015. Jay believes the anticipated bankable feasibility study should bolster confidence in this project.
Prophecy Coal trades at $0.50, and with approximately 195 million shares outstanding, is capitalized at $98 million. Prophecy Coal still holds a 45% interest in the spinoff company, which contributes approximately $0.30 to the value of Prophecy Coal's shares.
For a more information on Prophecy Coal, visit their website www.prophecycoal.com, phone Chris Ackerman at 800-459-5583 or email cackerman@prophecycoal.com.
InvestmentPitch.com is a multimedia company that provides a combined solution for creating, hosting, and distributing financial video content across multiple platforms to investors and financial professionals.
CONTACT:
InvestmentPitch.com
Barry Morgan, CFO
bmorgan@investmentpitch.com
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