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Prophecy Platinum vindt ca 12 Miljoen Oz PGM+Gold en stijgt als een raket

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  1. [verwijderd] 14 juli 2011 18:35

    PROPHECY PLATINUM REPORTS 1.04 MILLION OZ PGM+GOLD INDICATED AND 10.97 MILLION OZ PGM+GOLD INFERRED FOR THE WELLGREEN PROJECT, YUKON TERRITORY, CANADA
    7/14/2011 8:30:35 AM - Market Wire

    VANCOUVER, BRITISH COLUMBIA, Jul 14, 2011 (MARKETWIRE via COMTEX News Network) --
    Prophecy Platinum Corp. (TSX VENTURE:NKL)(PINK SHEETS:PNIKD)(FRANKFURT:P94P) ("Prophecy Platinum" or the "Company") is pleased to announce the receipt of an independent National Instrument (NI) 43-101 compliant report and mineral resource estimate for its Wellgreen PGE-Ni-Cu property located in the Yukon Territory, Canada. The report is authored by Todd McCracken, P.Geo., of Wardrop Engineering Inc., a Tetra Tech Company, who is an independent Qualified Person under NI 43-101.

    The independent study incorporated drill data from 701 diamond drill holes (182 surface and 519 underground) totalling over 53,222 metres. Using a 0.4% NiEq (nickel equivalent) cut-off grade, the Wellgreen deposit now contains a total inferred resource of 289.2 million tonnes at an average grade of 0.53 g/t platinum, 0.42 g/t palladium, 0.23 g/t gold (1.18 g/t PGM+Gold), 0.38% nickel, and 0.35% copper. Separately, the deposit also contains an indicated resource of 14.3 million tonnes at an average grade of 0.99 g/t platinum, 0.74 g/t palladium, 0.52 g/t gold (2.25 g/t PGM+Gold), 0.69% nickel, and 0.69% copper. The resource includes both the East Zone and the West Zone of the Wellgreen project, which are tabulated in Table 1 showing respective metal grades which are also expressed as nickel equivalent (NiEq) values:

    Table 1: Wellgreen Indicated and Inferred Resource Totals

    ---------------------------------------------------------------------------
    NiEq% Cate- NiEq Pt Pd Au PGM+Au Ni Cu Co
    cutoff gory Zone Tonnes % (g/t) (g/t) (g/t) (g/t) (%) (%) (%)
    ---------------------------------------------------------------------------
    0.400 Indi- East 14,308,000 1.36 0.99 0.74 0.52 2.25 0.69 0.62 0.05
    cated
    ---------------------------------------------------------------------------
    NiEq% Cate- NiEq Pt Pd Au PGM+Au Ni Cu Co
    cutoff gory Zone Tonnes % (g/t) (g/t) (g/t) (g/t) (%) (%) (%)
    ---------------------------------------------------------------------------
    0.400 Inf- East 219,327,000 0.76 0.54 0.45 0.26 1.25 0.39 0.34 0.03
    erred
    0.400 Inf- West 69,919,000 0.67 0.50 0.34 0.12 0.96 0.34 0.38 0.02
    erred
    ---------------------------------------------------------------------------
    Total
    inferred 289,246,000 0.74 0.53 0.42 0.23 1.18 0.38 0.35 0.03
    ---------------------------------------------------------------------------

    Several parameters were used in calculating the reported resource:

    -- NiEq=((Ni%x$Nix22.0462)+(Cu%x$Cux22.0462)+(Co%x$Cox22.0462)+
    (Au gradex$Aux0.029167)+(Pt gradex$Ptx0.029167)+
    (Pd gradex$Pdx0.029167))/($Nix22.0462);
    -- Long term average metal prices in $USD of $9.52/lb nickel (NiEq prices
    based on this amount), $2.96/lb copper, $15.78/lb cobalt, $1085/troy
    ounce gold, $1776/troy ounce platinum, $689/troy ounce palladium;
    -- Visual comparison of colour-coded block model grades with composite
    grades on section and plan;
    -- Comparison of the global mean block grades for ordinary kriging (OK),
    inverse distance squared (ID2), nearest neighbour (NN) and
    composites;
    -- Swath Plots comparing NN estimates and OK estimates;
    -- 701 drillhole database used compiling over 12,000 assays.

    Contained Metals at Wellgreen(i)

    ---------------------------------------------------------------------------
    Metal Indicated Resource Inferred Resource
    ---------------------------------------------------------------------------
    Nickel (Ni) 0.22 Billion lbs. 2.42 Billion lbs.
    ---------------------------------------------------------------------------
    Copper (Cu) 0.20 Billion lbs. 2.23 Billion lbs.
    ---------------------------------------------------------------------------
    Cobalt (Co) 15.77 Million lbs. 191.30 Million lbs.
    ---------------------------------------------------------------------------
    Platinum (Pt) 0.46 Million oz. 4.93 Million oz.
    ---------------------------------------------------------------------------
    Palladium (Pd) 0.34 Million oz. 3.91 Million oz.
    ---------------------------------------------------------------------------
    Gold (Au) 0.24 Million oz. 2.14 Million oz.
    ---------------------------------------------------------------------------
    PGM+Gold 1.04 Million oz. 10.97 Million oz.
    ---------------------------------------------------------------------------
    (i) Based on resource estimated at 0.4% NiEq cut-off, and 100% metals recoveries.

    "This initial independent resource report confirms Wellgreen as one of the largest Platinum Group Metals projects in Canada, and one of few outside of South Africa's Bushveld complex. We intend to aggressively expand total resource at Wellgreen in Yukon, Canada," stated John Lee, Chairman of Prophecy Platinum.

    Prophecy Platinum has adopted a 0.4% nickel equivalent cut-off pending further work on the economics regarding the deposit. The Company believes that this represents a conservative cut-off value with a demonstrated NiEq value 0.74% for the inferred resource and 1.36% NiEq for the indicated resource. Additional payable metals such as rhodium, iridium, osmium and ruthenium are not figured into the current resource estimate. Resource numbers at their various cut-off values are tabulated below on a zone-by-zone basis (i.e. East Zone and West Zone):
  2. [verwijderd] 14 juli 2011 18:36
    Stockhouse Forum:

    $60 billion in the ground!
    ionmetals2
    14-7-2011 10:23:22 | | 200 reads | Post #29970423

    By my rough calculations, they have about $60 billion of in-situ metal at Wellgreen.

    And a few billion more at Lynn Lake, not to mention the other projects...

    So their market cap is at well below one tenth of one percent of their in-situ metal values.

    In a normal market, (which we haven't seen for about 5 years or more) I would have expected that their market cap would be at least 1% of the in-situ metal value at this stage, (and moving further towards 5% as they move through feasibility to construction.) .... so at this stage, at 1% the market cap would be $600 million.

    This is an absolute steal at this share price. jmo

    At $5 a share this would be a steal. $10 or $12 would be more appropriate.

    Keep in mind too - Prophecy owns about 22,500,000 shares of NKL, so if it even hit $5 - that would be more than the entire current market cap of Prophecy.

    Bargains bargains everywhere.
  3. [verwijderd] 15 juli 2011 10:34
    quote:

    Troy schreef op 15 juli 2011 10:12:

    Indrukwekkend.
    Grote deposit en open in diverse richtingen. Weinig uitstaande aandelen waarvan +/- 45% in handen van Prophecy Coal en +/- 20% van Resinco Capital. En dan nog de Batista (EBX Group) connectie.
    DYODD
    Heb je een link van de Resinco en Batista connecties..??

    Mij is daar niks van bekend.
  4. [verwijderd] 15 juli 2011 14:15
    @exact

    Zie pagina 3 @ www.prophecyplat.com/pdf/Prophecy_Pla...

    Advisor to Chairman:
    Harald Batista (EBX) Brazil

    Resinco Capital Partners Inc. Acquires Securities of Pacific Coast Nickel Corp.

    www.resincocp.com/s/NewsReleases.asp?...

    Immediately following the completion of the Transaction, the Company will consolidate its share capital on a 10 old for one new basis (the “Consolidation”) and will change its name to Prophecy Platinum Corp. The Company will retain its existing symbol NKL.V. Prophecy will change its name to Prophecy Coal Corp. and will retain its existing symbol PCY.V.

    prophecyplat.com/news_2011_jun13_paci...

  5. [verwijderd] 15 juli 2011 14:23
    quote:

    Troy schreef op 15 juli 2011 10:12:

    Indrukwekkend. Grote deposit en open in diverse richtingen. Weinig uitstaande aandelen waarvan +/- 45% in handen van Prophecy Coal en +/- 20% van Resinco Capital. En dan nog de Batista (EBX Group) connectie.DYODD
    Resinco had ca 22% vòòr de fusie, ik schat dat ze nu nog slechts een paar procent hebben en dit is dus nauwelijks nog van belang.
  6. [verwijderd] 15 juli 2011 14:26

    Vancouver, British Columbia, June 13, 2011: Pacific Coast Nickel Corp. ("PCNC" or the “Company”) (TSX-V: NKL, US-PINK: PNIKF, Frankfurt: P94) is pleased to announce the completion of the purchase of the Wellgreen and Lynn Lake nickel properties from Prophecy Resource Corp. (the “Transaction”) (see joint PCNC / Prophecy news, January 18, 2011, February 17, 2011, April 4, 2011 and June 1, 2011) by way of a plan of arrangement under the Business Corporations Act (British Columbia).

    Pursuant to the Transaction, the Company issued 450,000,000 of its common shares to Prophecy Resource Corp. (“Prophecy”). Prophecy retained 225,000,000 of these shares and will distribute 180,823,575 PCNC common shares to Prophecy shareholders as of today’s date and reserve 44,176,425 common shares for distribution to holders of Prophecy options and warrants, upon the exercise of such options and warrants.

    Immediately following the completion of the Transaction, the Company will consolidate its share capital on a 10 old for one new basis (the “Consolidation”) and will change its name to Prophecy Platinum Corp. The Company will retain its existing symbol NKL.V. Prophecy will change its name to Prophecy Coal Corp. and will retain its existing symbol PCY.V.

    Post-Consolidation shares of the Company and common shares of Prophecy are expected to commence trading under their new names in the next two to five days.
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