MINING.com: Huge steppe up for Prophecy Coal after Mongolia approves power plant

TSX-V junior Prophecy Coal was trading up 6% by early afternoon on Thursday after jumping 11% earlier in the day on news that the Mongolian government has given the go-ahead for a power plant at the mouth of its Chandgana mine. Prophecy – which also controls a Yukon platinum explorer – has more than 1.4 billion tonnes of surface minable thermal coal resources at Chandgana and its producing mine Ulaan Ovoo for which it recently signed offtake agreements in Russia. There is renewed interest in Mongolian coal assets and earlier this week an Australia-based firm exploring in the fast-growing country was sold for a 800% profit a mere 18 months after its IPO. To read the full article, click hereHuge steppe up for Prophecy Coal after Mongolia approves power plant

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