Prophecy Coal receives the Ulaan Ovoo coal mine back in operation

 

VANCOUVER, BRITISH COLUMBIA–(4. November 2013) – Prophecy Coal Corp. ("Prophecy" or the "Company") (TSX:PCY)(OTCQX:PRPCF)(FRANKFURT:1P2) is pleased, announce, that the company's mining operations to the 100 % owned coal mine Ulaan Ovoo has resumed in Mongolia. The reopening of the mine was time- and on budget.

The road conditions on the way from the mine to the siding at Sukhbaatar are normal and the coal is sold on a continuous basis to a number of customers Prophecy. The staff necessary for the degradation, Security and transportation was discontinued. All of the leased mining- and transport equipment of the company have been called back and have arrived on site. With a fleet, the group consisting of 3 Large excavators, 6 Dump trucks and 20 (company-owned and leased) Transport force is weighing, The company expects, in November and December about 30.000 to 50.000 To promote and carry tons of coal per month, unless weather conditions permit.

Since 2010 the company has more than 55 Million $ investiert in Ulaan Ovoo. This includes investment in roads- and bridge, Mining vehicles, the mining camp, Removal work, facilities and other infrastructure improvements in the community. The power plant coal mine Ulaan Ovoo located in a strategic position 17 Kilometers from the border with Russia and 120 Kilometers of Mongolian and Russian railway connections. Wardrop Engineering, a Tetra Tech Company, made 2010 a NI 43-101 compliant report with a resource estimate of 174 Million tons of coal in the measured category and 34 Million tons of coal in the indicated category. The coal is bituminous (5.040 kcal/kg), has a low ash- (11,3 %) and sulfur (0,40 %) and is suitable for export. The mine has a single massive coal seam at, the thickness of a 45-80 Meters as well as an overburden-coal ratio of 1,8:1 has. The first 8 Degradation do not require annual coal washing.

Qualified Person

Herr Christopher Kravits (LPG, CPG) is a Qualified Person as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). Mr. Kravits is not considered independent of Prophecy, as it a considerable portion of his time exclusively to his position as Manager of Mining at Prophecy Coal Corp.. dedicated. Mr. Kravits has reviewed and released on the technical and scientific publications in this Pressemittielung.

For images from the company's mine Ulaan Ovoo please visit the company's website at www.prophecycoal.com.

Über Prophecy Coal

Prophecy Coal Corp. is a Canadian company, listed on the Toronto Stock Exchange and focused on the development of energy projects in Mongolia. Visit the website at www.prophecycoal.com more information on Prophecy Coal can be found.

PROPHECY COAL CORP.
ON BEHALF OF THE BOARD

John Lee, Executive Chairman

Neither the Toronto Stock Exchange nor its Regulation Services (according to the definition of the Articles of Association of the Toronto Stock Exchange) take responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

Certain statements in this press release including statements, The words "anticipate,", "Anticipate", "Intend", "Plan", "Take the view", "Estimate" or similar expressions, involve, and statements, matters affecting, are not historical facts constitute, are forward-looking statements within the meaning of applicable securities laws. Such forward-looking statements, the expectations of management concerning the future growth of Prophecy, the operating results, of benefits, Reflect business prospects and opportunities, determined based on factors and assumptions and are therefore subject to known and unknown risks and uncertainties, which could cause, the actual results, Achievements and successes from any future results, Achievements and successes, the statements are implicitly or explicitly expressed in such forward-looking, differ. These estimates and assumptions are inherently subject to significant uncertainties and contingencies, in respect of the business, the environment and competition, as well as other areas, many of which are exposed with respect to future events and thus could lead to changes, the actual results of which, implicitly or explicitly made in any of Prophecy forward-looking statements are expressed, differ.

When engage in any such forward-looking statements, which may be found in this press release, Prophecy has made several assumptions, as it deems appropriate. These include the assumptions, that there will be no significant operational delays as labor disputes; that exchange rates are approximately correspond to the current level; certain price assumptions for coal, Assumptions on price and availability of fuel, Largely correspond to resources and equipment and other essential supplies at current levels; that production forecasts are in line with expectations; that the current mineral resource estimates are accurate Prophecy; that the working- and input costs will rise according to the current expectations of Prophecy; and that any necessary funding can be secured at reasonable terms. Prophecy can not guarantee, that these assumptions will prove to be correct.

Numerous factors could cause, Prophecy that actual results of which, the statements are implicitly or explicitly expressed in any forward-looking, differ. These include the following risks and uncertainties, in the current opinions and analysis of management and the financial information leaflet, which were filed on SEDAR and posted on the website of Prophecy, are described under "Risk Factors" closer: Prophecy net losses in the past and lack of cash flow expected date; Explorations-, EXPLORATION- and production risks, including risks associated with the development of the company's coal concession area Ulaan Ovoo; Prophecy that has never operated profitably mine production; the uncertainty of mineral resources- and reserve estimates; the capital- and operating costs, necessary, Prophecy of the projects to bring into production and the resulting economic returns of its projects; Operating abroad and political conditions, including legal and political risks of operating in Mongolia, when it is a developing country; Claim ownership of the mineral concession areas of Prophecy; Environmental risks; competition in the mining sector; Lack of infrastructure; Prophecy's dependence on key personnel; uninsured risks; Fluctuations in commodity prices; Dependence on contractors; Prophecy's minority interest in Prophecy Platinum Ltd.; Prophecy's need for substantial additional financing and the risk, not be able to secure such financing on reasonable terms or at all; Exchange rate risks; Anti-corruption laws; current world economic situation; the payment of dividends and conflicts of interest.

These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements made by Prophecy. Prophecy is of the opinion, that the expectations, in the forward-looking statements in this press release and other documents, is incorporated herein by reference, are expressed, appropriate; However, it can not be guaranteed, that such expectations will prove to be correct. In addition, it should be noted, that, although Prophecy has attempted, important factors, to the significant deviation of the actual events or results to those of, used in forward-looking statements as a, could lead, identify, there may be other factors, which could cause, that events or results not to be expected, fail intended or planned. Prophecy is not obliged, to make any revisions to these forward-looking statements publicly, to events or circumstances, that occurred after the date of this press release, or to reflect the occurrence of unanticipated events; unless, it is legally required.

Contact:
Prophecy Coal Corp.
Bekzod Kasimov
Manager, Business Development
+976-11-327556 or +1-888-513-6286 (Toll Free in North America)
bekzod@prophecycoal.com
www.prophecycoal.com

For the correctness of the translation is any liability assumed!

This entry was posted in News, News of the corporations, the rare earth metals and and tagged , , , . Bookmark the permalink.

Comments are closed.