Pete,
I have been holding Prophecy since last year and I see it as a fairly long term hold. The company trades on the Toronto Venture exchange and may soon be listed in Hong Kong as well. They are sitting on loads of thermal coal in two mines in Mongolia which positions them well for shipping to China or Russia. The first mine is just now into production and offtake agreements are still to be announced. The second mine is an interesting one because it will probably include the construction of a power generating plant and power is something that Mongolia badly needs. Could be very profitable to mine the coal, generate the power and sell the power into the grid. The company's recent merger with Victory Nickel resulted in Prophecy Platinum which just announced a huge Canadian gold mine with a possible 11+ million ounces. My "freeby" shares in Prophecy Platinum are now over $5 as of yesterday. The recent increase in the price of Prophecy Coal shares is due, in part, to their 45% ownership in this mine. I think the story will be a good one in time. I see it as a $10 share in 3 years, maybe more. As they say, do your own DD!
I have been holding Prophecy since last year and I see it as a fairly long term hold. The company trades on the Toronto Venture exchange and may soon be listed in Hong Kong as well. They are sitting on loads of thermal coal in two mines in Mongolia which positions them well for shipping to China or Russia. The first mine is just now into production and offtake agreements are still to be announced. The second mine is an interesting one because it will probably include the construction of a power generating plant and power is something that Mongolia badly needs. Could be very profitable to mine the coal, generate the power and sell the power into the grid. The company's recent merger with Victory Nickel resulted in Prophecy Platinum which just announced a huge Canadian gold mine with a possible 11+ million ounces. My "freeby" shares in Prophecy Platinum are now over $5 as of yesterday. The recent increase in the price of Prophecy Coal shares is due, in part, to their 45% ownership in this mine. I think the story will be a good one in time. I see it as a $10 share in 3 years, maybe more. As they say, do your own DD!
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