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UPDATE: Prophecy Coal Obtains Power Plant Land Use Rights; Stocks Rise 4%, Slightly Above 52-Week Lows

Prophecy Coal Corp. (PCY.TO) announced that Prophecy Power Generation LLC, a wholly owned private Mongolian subsidiary of Prophecy Coal Corp., has been granted 532.4 hectares of land to be used for Prophecy's proposed Chandgana Power Plant Construction.

With the Land Use Rights in place, Prophecy has issued a contract to Erchim Concern LLC to bring 4MW of temporary power to the Chandgana Power Plant site from a local 35kV power line.

PCY was up nearly 4% to 14 cents, trading slightly above 52-week low 11 cents.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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