The Conversation (0)
Prophecy Coal (TSX:PCY,OTCQX:PRPCF,FWB:1P2) entered into a Memorandum of Understanding with one of the world’s largest power generation groups with installed capacity of over 100 gigawatts and annual power generation of over 450,000 gigawatt hours to jointly develop the Company’s Chandgana Power Plant project in Mongolia.
As quoted in the press release:
The Strategic Partner has completed preliminary due diligence on the Project, including a site visit, and held several months of discussions with Prophecy prior to signing the MOU.
The MOU sets out the proposed terms of the cooperation and timeline of implementation of a transaction between the Strategic Partner and Prophecy. The Company cautions that the MOU is not binding and should not be relied upon as a guarantee that a transaction will be completed.
Click here to read the Prophecy Coal (TSX:PCY,OTCQX:PRPCF,FWB:1P2) press release
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