Prophecy Coal Corporation (TSX: 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's) well under way. Additionally Prophecy Coal Corp holds the Okeover Copper project and the Titan, Vanadium Iron ore & Titanium projects in Canada.
Rob McEwen joins Prophecy Resource Corp ahead of merger with Red Hill Energy
11th Mar 2010, 3:13 pm
Rob McEwen has joined the advisory board of Prophecy Resource Corp (CVE:PCY; OTC:PCYRF; ETR:3P1) which recently announced that it would be merging with Red Hill Energy (TSX-V: RH).
McEwen is one of the most high profile mining entrepreneurs in Canada, and is Chairman and CEO of US Gold Corp (NYSE:UXG, TSX:UXG) and Minera Andes (TSX:MAI). He is also a significant shareholder in Rubicon Minerals (TSX:RBI).
"Mr. McEwen possesses an impeccable track record of delivering shareholder value, something Prophecy's management will strive to achieve under Mr. McEwen's guidance. With Prophecy focusing on Asian investors, I look to create synergy with Mr. McEwen through shared networking and to achieve sustainable growth through acquisition and development,” John Lee, Chairman of Prophecy, stated.
Prophecy Resource Corp’s interests include the Lynn Lake nickel-copper project in Manitoba, the Titan vanadium project in Ontario, and the Okeover copper-molybdenum project in British Columbia. Red Hill Energy controls over 1.5 billion tons of thermal coal resource in Mongolia.
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