Prophecy Coal Announces Approval for the General Development of the Mongolian-Russian Zeltura Border Port
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 09/19/14 -- Prophecy Coal Corp. ("Prophecy" or the "Company") (TSX: PCY) (OTCQX: PRPCF) (FRANKFURT: 1P2) is pleased to announce the approval of the Company's General Development Plan (the "GDP") for the Zeltura border port in Selenge province, Mongolia.
Based on Article 17.4.5 of the Mongolian Border Control and Ports of Entry and Customs Law, Provision No. 4.8 of the Border Ports National Council of Mongolia (the "BPNC") Charter and the decision of the 2nd meeting of the BPNC and with the purpose of implementing the 2012-2016 Government Action Plan, Resolution #01 was made on August 26, 2014 by the BPNC to:
Given the approval of the GDP by the BPNC, the Company anticipates approval from the Mongolian Ministry of Road and Transportation for the Road Feasibility study previously submitted to it for the construction of a 17km road to connect the Ulaan Ovoo mine to the Zeltura border. Prophecy is also working with the Mongolian Customs General Administration for the establishment of a customs inspection and clearance area at its Ulaan Ovoo mine. The Company's goal is to see the Zeltura border opened, and to transport its first shipment of coal through it, this year.
Ulaan Ovoo Sales in Russia
In 2014, the Company sold and successfully delivered coal shipments from Sukhbaatar rail siding to a number of Russian customers. Realized sale prices for coal with GCV of 4,500kcal/kg to 5,000kcal/kg with low ash (less than 10%) and low sulphur (less than 1%) ranged from 1,800-2,400 roubles per tonne (US $50-$65 per tonne). Sale prices are also dependent on the point of delivery in Russia. In just a few months, Prophecy and Ulaan Ovoo coal have earned a good reputation in the Russian Buryat region for supplier reliability and coal product quality.
The Russian market remains a prime focus for Ulaan Ovoo's management, who remain confident about the prospect of increasing both the quantity of Russian sales and number of Russian customers over time. The opening of the Zeltura border is expected to significantly reduce transportation costs and thus, increase the Company's sales margins and competitiveness in Russia.
About Prophecy
Prophecy Coal Corp. is a Canadian public company listed on the Toronto Stock Exchange that is engaged in developing energy projects in Mongolia. Further information on Prophecy Coal can be found at .
PROPHECY COAL CORP.
ON BEHALF OF THE BOARD
JOHN LEE
Executive Chairman
Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release, including statements which may contain words such as "expects", "anticipates", "intends", "plans", "believes", "estimates", or similar expressions, and statements related to matters which are not historical facts, are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements, which reflect management's expectations regarding Prophecy's future growth, results of operations, performance, business prospects and opportunities, are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements.
These factors should be considered carefully, and readers should not place undue reliance on the Prophecy's forward-looking statements. Prophecy believes that the expectations reflected in the forward-looking statements contained in this news release and the documents incorporated by reference herein are reasonable, but no assurance can be given that these expectations will prove to be correct. In addition, although Prophecy has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Prophecy undertakes no obligation to release publicly any future revisions to forward-looking statements to reflect events or circumstances after the date of this news or to reflect the occurrence of unanticipated events, except as expressly required by law.
Contacts:
Prophecy Coal Corp.
Bekzod Kasimov
Investor Relations
+1.604.563.0699 or +1.888.513.6286
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Datum: 19.09.2014 - 15:15 Uhr
Sprache: Deutsch
News-ID 337692
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VANCOUVER, BRITISH COLUMBIA
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Mining & Metals
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