NEW YORK, Aug. 1, 2013 /PRNewswire/ -- S&P Capital IQ
announced today that it has commenced Standard & Poor's Factual
Stock Report coverage on Prophecy Platinum Corp.
(Logo: http://photos.prnewswire.com/prnh/20130524/NY19925LOGO
)
Prophecy Platinum Corp. (TSXV: NKL; OTCQX: PNIKF), is a
growth-focused PGM exploration company with projects in the
Yukon Territory, Ontario and Manitoba, Canada. The company's 100% owned
Wellgreen PGM-Ni-Cu project, located in the Yukon, is one of the world's largest
undeveloped PGM deposits and one of few significant PGM deposits
outside of southern Africa or
Russia. The company's Shakespeare
PGM-Ni-Cu project is a fully-permitted, production-ready mine
located in the Sudbury mining
district of Ontario, and its
Lynn Lake project is a former
operating mine located in Manitoba,
Canada.
On July 17, 2013, the company
announced the commencement of the 2013 field program at its
100%-owned Wellgreen PGM-nickel-copper project. Field activities,
metallurgical test work and engineering initiatives commenced in
June 2013 with the comprehensive
re-logging and re-sampling of up to 12,000 meters of historic drill
hole cores from across the main Wellgreen deposit, approximately
75% of which had never been tested. A targeted exploration drilling
program is set to begin before the end of July 2013. The 2013 drill program will be
conducted by Boart Longyear Canada Inc.
The company's 2013 Wellgreen exploration program has been
designed to support and maximize the results of a revised PEA and
updated mineral resource estimate as the next major milestones in
the development of the project. The updated PEA, expected to be
completed in the first half of 2014, will reflect a new approach to
the project under which a significantly reduced CAPEX and enhanced
economic key performance indicators are key goals. In addition to
the field activities now under way, environmental, socio-economic,
engineering and metallurgical contracts have been awarded in
accordance with the company's target timeline.
Concurrent with the advancements on the Wellgreen project,
during 2013, Prophecy Platinum has been conducting a comprehensive
review of its fully-permitted production ready Shakespeare
PGM-Nickel-Copper mine located in the Sudbury mining district of Ontario. This
review has been focused on opportunities to reduce operating costs
in three key areas: toll milling/smelting costs, reduction in ore
haulage transport costs using a new route proposed by the Sagamok
Anishnawbek First Nations, and refinement of the mine plan/site
operations. At sustained recent metal prices, Shakespeare could provide a source of funding
for the exploration and engineering activities at Wellgreen as well
as provide benefits to the Sagamok Anishnawbek First Nations and
local community stakeholders.
On June 20, 2013, Prophecy
Platinum announced that it has completed a C$5.9 million equity financing (Private
Placement). The gross proceeds of the Private Placement will be
applied towards the continuing exploration and development of
Prophecy Platinum's 100%-owned Wellgreen PGM-Ni Cu property located
in the Yukon Territory, as well as
for studies at the Company's Shakespeare PGM-Ni-Cu property located
in the Sudbury mining district in
Ontario, and for exploration on
the balance of its Canadian projects.
Standard & Poor's Factual Stock Report coverage on Prophecy
Platinum Corp will also be accessible on an ongoing basis to the
investment community by scores of buy-side institutions and
sell-side firms that utilize S&P Capital IQ research and
information platforms daily. Millions of self-directed investors
also have access to the report via their e-brokerage accounts.
Please visit www.prophecyplatinum.com for additional
information.
About Standard & Poor's Factual Stock Reports
Currently profiling approximately 500 issuers, Standard &
Poor's Factual Stock Reports, produced by S&P Capital IQ,
increase market awareness of issuers in the investment community
with insightful commentary and key statistics and information.
Standard & Poor's Factual Stock Reports provide factual
research coverage about company fundamentals and business
prospects, thereby enabling information about covered companies to
reach a wide investor audience of Buy and Sell-side investors.
Updated weekly with the latest pricing, trading volume, and other
data, the reports include recent developments, a financial review,
key operating information, industry and peer comparisons,
institutional holdings analysis, Street Consensus and opinions,
performance charts, business summary, fundamental data, and news.
Because coverage of these reports is underwritten by the issuer,
S&P Capital IQ does not offer investment opinions concerning
the advisability of investing in these stocks.
Standard & Poor's Factual Stock Reports are produced
separately from any other analytic activity of S&P Capital IQ
or related organizations. S&P Capital IQ does not trade
on its own account.
About S&P Capital IQ
S&P Capital IQ, a part of McGraw Hill Financial, is a
leading provider of multi-asset class and real time data, research
and analytics to institutional investors, investment and commercial
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Contacts
Prophecy Platinum Corp
Chris
Ackerman
Senior Investor Relations Manager
604-569-3690
cackerman@prophecyplatinum.com
or
S&P Capital IQ
Customers
Richard Albanese, 212-438-3647
richard.albanese@spcapitaliq.com
or
Media Relations
Michael Privitera, 212-438-6679
michael.Privitera@spcapitaliq.com
SOURCE S&P Capital IQ
