Prophecy Coal Corp.(TSX:PCY) announced the addition of four new members to its directorial and advisory boards. Harold Batista joined the Company’s Board of Directors. V.P Sharma, Maree Roos and Lynia Lau all joined Prophecy Coal’s advisory board.
As quoted in the press release:
Prophecy also announces that Mr. Paul Venter and Mr. Paul McKenzie have resigned from the Board of Directors, effective immediately, to pursue other interests. Mr. McKenzie was the founder of Red Hill Energy, which merged with Prophecy Resource (now Prophecy Coal) in 2010. Mr. Venter was instrumental in the commissioning of the Ulaan Ovoo mine in 2011. The Company appreciates their dedication and service.
Prophecy Coal, Chairman, John Lee, commented:
Our expert team of staff and advisors has been working to implement the Chandgana mine mouth power project (“Chandgana”) in Mongolia. Chandgana is the most mature and the only fully licensed 600 MW independent power project in Mongolia. Significant advances have been made in the areas of EPC, PPA, developer sponsorship, and project financing. A progress update will be provided shortly.