Seeking Alpha: Prophecy Coal – a Mongolian Energy Power Play

Valentine’s Day 2012 for me was a seven hour road trip to visit the Chandgana site of Prophecy Coal where they intend to mine thermal coal and build two power plants over the next decade. On my road trip I was accompanied by Prophecy Coal Executive Director in Mongolia, Ronnie Van Eeden, and Prophecy Coal’s Manager of Geology Christopher Kravits. Three days later on February 17th, I met CEO John Lee over dinner. Since that time, Prophecy Coal has been on the move. On February 27, 2012, Prophecy celebrated uplisting its Canadian listing to the TSX in November by ringing the stock exchange bell. Three days later, Prophecy Coal announced it no longer needed loans it had secured (of $7 million) because Prophecy Coal had raised $10 million in a private placement. Eurasia Capital, a Mongolia brokerage, lists Prophecy Coal among its top eight Mongolia companies to invest in for 2012 in its Mongolia Outlook 2012 report. In the box score of Eurasia’s January 31, 2012, report, it notes that Prophecy Coal’s share price year-over-year was down 52.6%. To read the full article, click hereProphecy Coal – a Mongolian Energy Power Play

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