MONGOLIA - Oyu Tolgoi commercial production in June

Despite ongoing speculation regarding the investment agreement and project finance at the massive Oyu Tolgoi Copper-Gold Project in southern Mongolia, Turquoise Hill Resources has scheduled first commercial production in June.  1

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MONGOLIA - Prophecy launches Can$8.4 million placement

Prophecy Coal has announced a private placement of 60 million shares in a bid to raise Can$8.4 million to fund construction of the Chandgana power plant. The placement will be issued as a combination of units and special warrants in order to keep the share issuance under 25% of the company’s outstanding common shares.  1

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MONGOLIA - Selenge iron ore prospects extended

All assay results from a 35,000 metre drill program at Haranga Resources’ Selenge Iron Ore Project have been received, confirming wide lodes of mineralization at three prospects.  1

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MOVERS & SHAKERS - Prophecy appoints new executive chairman

Prophecy Coal says it has appointed its former chief executive officer as executive chairman of the Board in a bid to focus attention on the development of its Chandgana power plant in Mongolia. John Lee has now transitioned into the new role and will be negotiating the major government and joint venture agreements for Chandgana.

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