coal

Prophecy Coal PCY.V put out a news release today for the minning permit. The company controls over 1.4 billion tons of open-pittable thermal coal in Mongolia (839 Mt Measured, 579 Mt Indicated). They have a MOU signed with the JUST group and are wating the finalization of this agreement. With over 1 billion tonnes of coal Prohecy's Chandgana projects are ideally suited for future 4,200MW to 10,000 MW installed base power plant; And on November 15,2010, the compnay received the approval of our Detailed Environmental Impact Assessment (DEIA) pertaining to the construction of a pit-mouth 600MW coal fired power plant.

Chandgana is approximately 1,000 km from Beijing and 350km from the Chinese border. Mongolia's Choibalsan City, where Mongolian East Energy System ends, is merely 70km from the Chinese border giving the potential to supply Chandgana electricity to China via dedicated 800kv DC lines.

The initial 2x300 MW power plants will be built on Prophecy owned land and serviced by 2.4 million tonnes of coal annually from Prophecy's 150-million-tonne Chandgana Tal coal project (the coal mine can be fully commissioned within 90 days) with a strip ratio of 0.5 to 1. and a renewable 40-year mining license. Future plant expansions will be serviced by Prophecy's 1.05 billion tonnes Chandgana Khavtgai coal project. Prophecy is currently evaluating proposals and offers on power off take, design and constructions of plant and transmission lines, and investment.

Here is some of the other properties PCY owns!
Lynn Lake: 22.9 million tons of M&I at 0.57% NI & 0.30% Cu, and 8.1 million tons of Inferred at 0.51% Ni & 0.28% Cu
Wellgreen: Wardrop estimates of 77 to 254 million tonnes at 0.26 to 0.38% Nickel, 0.26% to 0.36% Copper, 0.55 to 0.85 g/t Platinum and Palladium, based on a strike length range of 4,000 to 7,000m and a width of 30 to 35m.
80% Titan of 49 million tonnes of Inferred at 48% Fe2, 14.8% TiO, and 0.24% V
60% Okeover of 87 million tones of Inferred at 0.31% CU & 0.014% MoS

I was just wondering how Prophecy compare to HUN?