Vancouver, British Columbia, February 6, 2012 - David Morgan, founder of Silver-Investor.com and publisher of the Morgan Report, interviews John Lee Chairman & CEO of Prophecy Coal Corp (TSX:PCY) (OTCQX:PRPCF) and also Chairman of Prophecy Platinum Corp (TSXV:NKL) (OTCQX:PNIKF) (Frankfurt:P94P).
Prophecy Coal is an internationally diversified thermal coal production company that controls over 1.4 billion tonnes of open-pittable thermal coal in Mongolia (839 million tonnes measured, 579 million tonnes indicated) between two distinct deposits. In November 2011, the Mongolian government issued Prophecy an official permit to construct a 600MW power plant at the site of its Chandgana deposit.
The company's second project at Ulaan Ovoo, was commissioned for production in November 2010. In a period of just 12 months, Ulaan Ovoo has become a top coal supplier in Mongolia. In Q4 2011, the company sold 90,000 tonnes of coal to both Mongolian and Russian companies. The company anticipates that Ulaan Ovoo will produce 300,000 to 500,000 tonnes of coal in 2012, with increasing sales to Russia and at higher selling prices.
Prophecy Coal currently owns 22.5 million shares (approx. 42%) of Prophecy Platinum, which was spun off from Prophecy Coal in June 2011.
Prophecy Platinum is a mineral exploration company focused on developing platinum group metals and nickel sulphide projects. Defining and driving the company, is its flagship Wellgreen PGM Nickel property in Canada's Yukon Territory. Prophecy's further holdings include the Lynn Lake Nickel Copper project in Manitoba, the Las Aguilas Nickel PGM deposit in Argentina, as well as five prospective claims in Uruguay.
Prophecy Platinum's 100% owned Wellgreen property is rich in platinum group metals (platinum (Pt), palladium (Pd) and rhodium Rh), nickel (Ni) and copper (Cu.). Conveniently located in the south west of Canada's mining-friendly Yukon Territory, the site is approximately 35 kilometres northwest of the airstrip at Burwash Landing, just 15 kilometres from the Alaska Highway and 402 kilometres from Alaska's Haines deep sea port. Prophecy Coal acquired 100% of the Wellgreen property following a September 21, 2010 merger with Northern Platinum, subsequently transferring full ownership to Prophecy Platinum on June 13, 2011.
Management is focussed on advancing the project, with most recent efforts centering around an underground drilling program initiated in January 2012 that is intended to further define the Wellgreen resource. A more comprehensive surface drilling operation will commence later in the spring. In addition, a high level scoping study by Wardrop Engineering is expected to be completed by early Q1-2012. Prophecy intends to utilize the results of the 2012 drill program to update the current resource estimate.
For more information on Prophecy Coal, please visit the company's website at www.prophecycoal.com, and for Prophecy Platinum, the company's website is www.prophecyplat.com. You can also contact Chris Ackerman at 800-459-5583 or email firstname.lastname@example.org or email@example.com.
David Morgan is a widely recognized analyst in the precious metals industry and consults for hedge funds, high net worth investors, mining companies, depositories and bullion dealers. He is the publisher of The Morgan Report on precious metals, author of "Get the Skinny on Silver Investing", and a featured speaker at investment conferences in North America, Europe and Asia. For the latest on silver, please visit www.silver-investor.com.
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Barry Morgan, CFO
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Source: InvestmentPitch via Thomson Reuters ONE