Prophecy Coal Enters Into Covenant With Mongolian Energy Authority on 600 MW Chandgana Power Project - MarketWatch: "VANCOUVER, BRITISH COLUMBIA, May 28, 2012 (MARKETWIRE via COMTEX) -- Prophecy Coal Corp. ("Prophecy" or the "Company") CA:PCY +3.70% (otcqx:PRPCF)(frankfurt:1P2) is pleased to announce that the Energy Authority of Mongolia ("EA") has entered into a Cooperation Covenant (the "Covenant") with Prophecy to bring the 600 MW Chandgana Power Project online by 2016.
The EA is the agency which implements governmental policy in the power and energy sector of Mongolia. The Covenant provides required support for the construction and operation of the Chandgana 600 MW (4 x 150 MW) mine-mouth power plant in central Mongolia and its capacity to supply the necessary electricity to the central and eastern region's power grids by 2016."
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