Prophecy Platinum Revises Base Case Metals Pricing Assumptions in Relation to PEA

Prophecy Platinum Corp. (TSXV:NKL,OTCQX:PNIKF,FWB:P94P) has revised the base case metals pricing assumptions from Energy and Metals Consensus Forecast (EMCF) to London Metals Exchange (LME) 3 year trailing averages, in relation to the results announced on June 18, 2012 from the independent NI 43-101 compliant Preliminary Economic Assessment for its 100% owned Wellgreen Ni-Cu-PGM project in the Yukon.

As quoted in the press release:

In line with pricing assumptions used by comparable issuers, the Company has revised the base case metals pricing assumptions from Energy and Metals Consensus Forecast (EMCF) to London Metals Exchange (LME) 3 year trailing averages. The long term LME pricing method is more commonly adopted in base case studies by comparable issuers and closer to today’s spot metal pricing, which offers investors a more balanced view of project economics.

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