11:48 AM EST - Prophecy Development Corp. : Announced the following updates on its projects in Mongolia: Prophecy Power Generation LLC, a wholly-owned subsidiary of Prophecy, is developing the Chandgana coal-fired power plant project which includes the construction of a 600 MW (4X150 MW) coal-fired mine-mouth power plant in two phases. The proposed power plant will be located next to the Chandgana Tal coal deposit, on which Chandgana Coal LLC (another wholly-owned subsidiary of Prophecy) has mining licenses covering the deposit. The Detailed Environmental Impact Assessment for the Chandgana Power Plant was approved in November 2010 and a construction license was granted in November 2011 to PPG. In March 2013, Prophecy secured a land use permit covering 532.4 hectares of land to be used for Prophecy's proposed Chandgana Power Plant from the Morun soum government. Prophecy Development Corp.
shares T.PCY are trading unchanged at $0.05.
