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Prophecy Coal Corp (PCY:CA)
Prophecy Coal Corp. (TSX-V: 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) well under way. Additionally Prophecy Coal Corp holds the Okeover Property (copper-molybdenum) and the Titan Vanadium-Titanium-Iron projects in Canada.
With China's economy growing at approximately 10% annually, demand in China for coal and other energy sources is outstripping supply. Unlike Canada, China has little oil or natural gas reserves for electricity generation. As a result, Chinese demand for thermal coal has risen substantially, with imports exceeding 133 million tonnes in 2010, and further growth is expected to continue due to the country’s rapid electricity demand.
Mongolia's vast reserves of high-quality coal, combined with its close proximity to China, the world's largest consumer of coal, and other high demand Asian markets, make Mongolia a growing strategic player in the global coal market. Mongolia plays an important, expanding role in powering Asia's heavy industries and coal-fired generating capacity.
NI 43-101 RESOURCE
| Copper (lbs) |
Vanadium (lbs) |
Titanium Oxide (kg) |
Nickel (lbs) |
Coal (t) |
|||
|---|---|---|---|---|---|---|---|
| Ulaan Ovoo | Mongolia | Proven Measured Indicated Inferred |
20.7 m 174 m 34 m 36 m |
||||
| Chandgana | Mongolia | Measured Indicated |
650.6 m 538.8 |
||||
| Okeover | BC, Canada | Inferred | 593 m | ||||
| Titan | ON, Canada | Inferred | 259 m | 7,259 m |
Prophecy Coal's Interest
Ulaan Ovoo: 20.7* million tonnes of proven 209 million tonnes of coal for M&I and 36 million tonnes for inferred
Chandgana: 1,211 million tonnes of coal for M&I
80% Titan of 49 million tonnes of inferred at 48% Fe2, 14.8% TiO2, and 0.24% V
60% Okeover of 87 million tonnes of inferred at 0.31% CU & 0.014% MoS
*Mineral Reserve estimate considers only the first phase of the project development of the Mineral resources contained in the Ulaan Ovoo project. Opportunity may exist for extension of additional low ash reserves to the south with an expanded pit and a higher throughput rate. All coal quality values are stated on an "as received" basis.

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