source: Mining weekly

Prophecy Coal received approval from the Toronto Stock Exchange (TSX) to join major mining firms.

Prophecy chief executive officer and chairperson John Lee called the TSX the “premier global exchange for the mining industry,” and said have his company's shares floated on it would broaden market exposure. Some funds do not invest in perceivably risky TSX Venture listed firms, only putting money into main board listings.

Prophecy is currently developing its Ulaan Ovoo Coal mine near Mongolia's border with Russia. It also hopes to build a power station at its Chandgana deposit located east of Ulaan Baatar. The plan is first to construct a 600 megawatt plant to supply power to Mongolia, and later bump this up to 3,600 megawatts. Once it has done so, Prophecy can export energy to China as well.