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It is reported that Prophecy Coal Corp issued a statement recentlyclarifying previous disclosures related to a feasibility study of aproposed mine-mouth power plant near its its Chandgana coal depositin Mongolia. It also said it commissioned a preliminary economic assessment forits Chandgana coal deposit. In January, the company issued a statement describing thefeasibility study for the proposed mine-mouth power plant, and saidThursday it reconfirms that the report pertains to the power plantonly, and does not include an economic assessment of the Chandganacoal deposit under NI 43-101 compliant standards. The company said given the report is linked to a specific coaldeposit a coal mine economic assessment under NI 43-101 is requiredbefore any disclosure can be made regarding the feasibility of apower plant project, as economics of each is integral to the other. It said as such, until an NI 43-101 economic assessment is preparedfor the Chandgana coal deposit, which estimates a mine capitalcosts and the operating economics of coal production for powerplant use, no meaningful feasibility study can be prepared inconnection with the power plant. To address this, the coal producer has retained John T. Boyd Co. toprepare a NI 43-101 compliant preliminary economic assessment forthe Chandgana deposit. The report is expected to include a summary assessment of theChandgana power plant economics, along with an assessment of thetechnical and economic viability of coal production at the depositto verify the input prices assumed. Accordingly, the company has fully retracted the power plantfeasibility study disclosure until a Chandgana coal economicassessment is complete. Its January 17 release also made referenceto a Chandgana mine costing study that was not compliant with NI43-101. It said "While no mine analysis from the study was disclosed, thecompany should not have referred to any study which wasnon-compliant with NI 43-101. It added that the commissioned studywill supersede the costing study." In addition, the company clarified that its Ulaan Ovoo deposithosts a measured resource of 174 million tonnes and has anindicated resource of 34 million tonnes of which 20.7 milliontonnes are classified as a reserve. The Chandgana coal property consists of three licenses: ChandganaTal, which has a measured resource of 141 million tonnes andincludes two licenses and Khavtgai Uul which contains one licenseand is located in the southwestern end of the basin has a measuredresource of 509 million tonnes and a 539 million tonne indicatedresource. Source - Proactive Investors. I am an expert from ppbattery.com, while we provides the quality product, such as China Li-socl2 Battery , China Nicd Nimh Battery Charger, Lifepo4 Rechargeable Battery,and more.
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