Prophecy Resource Corp. is focused on acquiring base and precious metal exploration properties in British Columbia. In 2008, the company conducted drilling programs at its Okeover copper-molybdenum property, located north of Powell River, BC. Drilling expanded the known mineralized area at the North Lake Zone and intersected intercepts grading up to 0.41% copper and 0.001% molybdenum over 12 meters. Prophecy has now earned a 60% interest in the Okeover property from Eastfield Resources Ltd. by spending over $1 million on exploration as required.
Prophecy Resource Corp is focused on acquiring base and precious metal exploration properties in British Columbia. It obtained an option to earn a 60% interest in the Okeover copper-molybdenum property from Eastfield Resources Ltd. Prophecy conducted drilling programs at Okeover in 2007 and 2008 that expanded the known mineralized area at the North Lake Zone, with highlights including 45.5 meters grading 0.33% copper. Prophecy has now earned a 60% interest in the Okeover property by spending over $1 million in exploration and intends to form a joint venture with Eastfield for further exploration and development.
Prophecy Resource Corp is focused on acquiring and exploring base and precious metal properties in British Columbia.
In the first quarter of 2008, the company spent $13,798 exploring its primary property, the Okeover copper-molybdenum
project. Exploration at Okeover in 2007 included expanding the existing North Lake resource zone through drilling and
discovering a new zone of mineralization at the South Breccia area through drilling. Prophecy plans to continue expanding
resources at North Lake and exploring the potential of the South Breccia discovery through additional drilling in 2008. As a
junior exploration company, Prophecy's level of operations is determined by its available
Prophecy Resource Corp is focused on acquiring base and precious metal exploration properties in British Columbia. It has an option to earn a 60% interest in the Okeover copper-molybdenum property from Eastfield Resources by spending $1 million on exploration and making cash payments totaling $110,000. Exploration at Okeover in 2007 included drilling at the North Lake and South Breccia zones, expanding known mineralization. Drilling in 2008 further expanded the North Lake zone, including one hole intersecting 45.5 meters grading 0.33% copper. Prophecy plans additional drilling to further define resources at Okeover.
- The document provides an overview and analysis of Prophecy Resource Corp's financial condition and operations for the fiscal year ending September 30, 2007. It summarizes the company's exploration activities on its Okeover copper-molybdenum property in British Columbia.
- Drilling in 2007 expanded the boundaries of the property's North Lake Zone, with several holes intersecting significant copper and molybdenum mineralization.
- An independent report estimates the North Lake Zone contains 86.8 million tonnes of inferred resources at average grades of 0.31% copper and 0.014% molybdenum. The zone remains open for further expansion.
Prophecy Resource Corp. acquired an option to earn a 60% interest in the Okeover copper-molybdenum property located in British Columbia from Eastfield Resources Ltd. by spending $1 million on exploration over 4 years and making cash payments totaling $110,000. Previous exploration between 1966-1977 included over 14,000 meters of drilling and identified copper and molybdenum mineralization. Prophecy completed a $102,000 exploration program in 2006 including soil sampling and road construction in preparation for a planned drilling program.
- Prophecy Resource Corp is focused on acquiring and exploring base and precious metal properties in British Columbia.
- In the three month period ended December 31, 2007, Prophecy spent $247,022 exploring its flagship Okeover copper-molybdenum property.
- Drilling at Okeover in 2007 expanded the known North Lake Zone and identified new mineralization at the South Breccia Zone.
Prophecy Resource Corp is focused on acquiring base and precious metal exploration properties in British Columbia. It obtained an option to earn a 60% interest in the Okeover copper-molybdenum property from Eastfield Resources Ltd. Prophecy conducted drilling programs at Okeover in 2007 and 2008 that expanded the known mineralized area at the North Lake Zone, with highlights including 45.5 meters grading 0.33% copper. Prophecy has now earned a 60% interest in the Okeover property by spending over $1 million in exploration and intends to form a joint venture with Eastfield for further exploration and development.
Prophecy Resource Corp is focused on acquiring and exploring base and precious metal properties in British Columbia.
In the first quarter of 2008, the company spent $13,798 exploring its primary property, the Okeover copper-molybdenum
project. Exploration at Okeover in 2007 included expanding the existing North Lake resource zone through drilling and
discovering a new zone of mineralization at the South Breccia area through drilling. Prophecy plans to continue expanding
resources at North Lake and exploring the potential of the South Breccia discovery through additional drilling in 2008. As a
junior exploration company, Prophecy's level of operations is determined by its available
Prophecy Resource Corp is focused on acquiring base and precious metal exploration properties in British Columbia. It has an option to earn a 60% interest in the Okeover copper-molybdenum property from Eastfield Resources by spending $1 million on exploration and making cash payments totaling $110,000. Exploration at Okeover in 2007 included drilling at the North Lake and South Breccia zones, expanding known mineralization. Drilling in 2008 further expanded the North Lake zone, including one hole intersecting 45.5 meters grading 0.33% copper. Prophecy plans additional drilling to further define resources at Okeover.
- The document provides an overview and analysis of Prophecy Resource Corp's financial condition and operations for the fiscal year ending September 30, 2007. It summarizes the company's exploration activities on its Okeover copper-molybdenum property in British Columbia.
- Drilling in 2007 expanded the boundaries of the property's North Lake Zone, with several holes intersecting significant copper and molybdenum mineralization.
- An independent report estimates the North Lake Zone contains 86.8 million tonnes of inferred resources at average grades of 0.31% copper and 0.014% molybdenum. The zone remains open for further expansion.
Prophecy Resource Corp. acquired an option to earn a 60% interest in the Okeover copper-molybdenum property located in British Columbia from Eastfield Resources Ltd. by spending $1 million on exploration over 4 years and making cash payments totaling $110,000. Previous exploration between 1966-1977 included over 14,000 meters of drilling and identified copper and molybdenum mineralization. Prophecy completed a $102,000 exploration program in 2006 including soil sampling and road construction in preparation for a planned drilling program.
- Prophecy Resource Corp is focused on acquiring and exploring base and precious metal properties in British Columbia.
- In the three month period ended December 31, 2007, Prophecy spent $247,022 exploring its flagship Okeover copper-molybdenum property.
- Drilling at Okeover in 2007 expanded the known North Lake Zone and identified new mineralization at the South Breccia Zone.
The document summarizes an event called Demo Metal that will take place from May 30th to June 2nd, 2012 in Bucharest, Romania. The event will focus on the metalworking industry and feature demonstrations of metalworking machines, organization of the production process into levels, know-how transfer presentations, networking opportunities, and communication between exhibitors and visitors. The goal is to attract professionals in industries like automotive, engineering, and aerospace to see the latest products and trends and develop business partnerships. The event aims to efficiently showcase relevant suppliers and maximize opportunities for contact between attendees.
Prophecy Resources Corp. is developing coal mines and a power plant in Mongolia to meet Asia's growing energy demands. The company owns two coal deposits totaling over 12 billion tons. It has obtained all necessary licenses to build a power plant near its mines, located only 120km from transmission lines. The management team has extensive experience developing large coal mines and power facilities. Investing in Prophecy provides exposure to Mongolia's booming resources sector near major economic growth centers with long-term energy needs.
This document discusses ethics and social responsibilities. It defines ethics as principles that outline moral codes of good and bad behavior for individuals and organizations. While laws set legal boundaries, ethics go further to define what is right and wrong. Many businesses develop their own codes of ethics to guide employees. An "ethics check" questions if a decision is legal, fair, and how it would make one feel if known publicly. A code of ethics should address honesty, integrity, respect, trust, responsibility, and citizenship. Businesses are now expected to act as socially responsible citizens by giving back to societies and communities.
The document summarizes the formulation of a coupled Stokes-Darcy problem. It introduces the continuous problem, rewrites it using additional unknowns, defines function spaces for the unknowns, and presents the variational formulation consisting of equations for the Stokes and Darcy subproblems and coupling terms. It also decomposes the stress tensor for the Stokes problem. The problem models fluid flow between a fluid domain and porous medium.
Employing a transition management approachto discover a new role for the so...Leen Gorissen
The transition management framework was used to help discover a new role for recycling shops in a region aiming for climate neutrality. Through workshops and meetings, a vision was developed for the recycling shops to become anchors in their communities and engines of innovation in the circular economy. Two potential new roles were identified: being a material matchmaker to close resource loops, and a service matchmaker to promote sustainable choices. While the process generated a shared vision and started anchoring it, not all recycling shop directors were equally committed to developing a new joint future role.
- The document is the unaudited financial statements of Prophecy Resource Corp. as of March 31, 2008, prepared by management without an auditor's review.
- It includes the balance sheet, statement of operations and deficit, and statement of cash flows for the periods ended March 31, 2008 and March 31, 2007.
- The company had a net income of $34,391 for the quarter ended March 31, 2008 compared to a net loss of $55,286 for the same period in 2007.
The document contains a series of writing worksheets for preschool and kindergarten students. Each page focuses on a different letter of the alphabet from A to Z, with the name of an object starting with that letter. The worksheets provide guidance for students to practice writing each letter.
The document describes the Guitar Musicaid Sliderule, a handheld instructional tool that helps guitar players learn notes, scales, chords, and finger placement. It contains a guitar fingerboard card and slider that reveals this information. Users can see fret positions, scale sequences, key signatures, and notes in chords. The slider allows users to select a scale and see the fret starting point and notes. It is priced at $15.99 and available at Guitar Center in Lake Forest. The tool helps players of all ages and eliminates frustration by providing an easy way to master the fingerboard. Teachers can also use it as an instructional aid.
The University Writing Center provides free writing consultation services to UCF students at three locations: Orlando, Daytona Beach, and Cocoa. Students can make appointments for face-to-face, phone, or online chat consultations to get help at any stage of the writing process from brainstorming to final editing. Consultations last 30 or 60 minutes and students should bring assignment details and drafts. The Writing Center helps with overcoming writer's block, developing critical thinking skills, and revising papers.
Naushad has over 9 years of experience in health and safety roles across various industries. He currently works as an HSE Officer for Artelia in Qatar, overseeing the expansion of navigational channels and construction of new islands. Previously he held safety roles in the UAE and India for companies involved in oil/gas, power, construction, and chemicals. Naushad has extensive training and certifications in areas like NEBOSH, fire safety, risk management, and offshore survival. He aims to take on more challenging health and safety positions to further his career growth.
Chief Rascal Speaks for 8 mins, 88 secondsmortybarnett
This document lists the names of various companies and products. It includes social media, marketing, and finance platforms as well as web browsers and creative/design tools. The names range from common terms like Firefox to made-up company names like PSD Gator and Blogbuster. The document ends with a short positive message about honesty and humor.
The document provides unaudited interim financial statements for Prophecy Resource Corp. as of June 30, 2009. It includes an interim balance sheet, statement of operations and comprehensive loss, statement of cash flows, and notes to the financial statements. The balance sheet shows total assets of $1,256,126 including cash of $3,485, short-term investments of $65,000, and mineral properties of $150,750. Total liabilities are $87,011 and shareholders' equity is $1,169,115. The statement of operations shows a net loss of $85,405 for the nine months ended June 30, 2009. The notes provide details on the company's accounting policies for financial statements,
This document is an exhibitor services manual for Predictive Analytics World that provides sponsors with important deadlines, event schedules, and logistical information. It outlines contact information for event management and services, registration details, exhibitor information on move-in/out, and deliverables included in different sponsor packages. The manual also provides information on shipping and deliverables, the standard display package for each sponsor level, exhibitor rules and regulations, and display specifications. It aims to make the planning process smooth and help sponsors with all necessary arrangements.
Prophecy Resource Corp. released unaudited interim financial statements for the period ended June 30, 2007. The statements included a balance sheet showing assets of $921,598 including cash of $461,966, mineral properties of $54,000, and deferred exploration costs of $279,716. The statements also showed a net loss of $30,744 for the quarter and $146,237 for the nine months ended June 30, 2007. Cash flow statements showed $103,812 used in operating activities for the quarter and $184,052 for the nine months.
The document is a collection of writing practice sheets for letters A through Y. Each page focuses on a single letter and provides a word beginning with that letter for students to trace and copy. The pages include the target letter written multiple times in various sizes and styles to help students practice formation. They also include the letter name and a simple picture related to the example word to support early writing skills.
The document provides an overview and history of exploration activities for the OK Property in British Columbia, which Prophecy Resource Corp. has an option to earn a 60% interest in. Key points include:
- Prophecy acquired an option to earn a 60% interest in the OK Property from Eastfield Resource Corp. in 2006 and has since conducted exploration programs including soil sampling, road construction, and drilling.
- The OK Property has a long history of exploration dating back to the 1960s, with over 14,000m of drilling and various geophysical and geochemical surveys conducted by multiple companies.
- Prophecy's most recent work in 2006 expanded road access and located drill sites from previous campaigns, with
The document summarizes an event called Demo Metal that will take place from May 30th to June 2nd, 2012 in Bucharest, Romania. The event will focus on the metalworking industry and feature demonstrations of metalworking machines, organization of the production process into levels, know-how transfer presentations, networking opportunities, and communication between exhibitors and visitors. The goal is to attract professionals in industries like automotive, engineering, and aerospace to see the latest products and trends and develop business partnerships. The event aims to efficiently showcase relevant suppliers and maximize opportunities for contact between attendees.
Prophecy Resources Corp. is developing coal mines and a power plant in Mongolia to meet Asia's growing energy demands. The company owns two coal deposits totaling over 12 billion tons. It has obtained all necessary licenses to build a power plant near its mines, located only 120km from transmission lines. The management team has extensive experience developing large coal mines and power facilities. Investing in Prophecy provides exposure to Mongolia's booming resources sector near major economic growth centers with long-term energy needs.
This document discusses ethics and social responsibilities. It defines ethics as principles that outline moral codes of good and bad behavior for individuals and organizations. While laws set legal boundaries, ethics go further to define what is right and wrong. Many businesses develop their own codes of ethics to guide employees. An "ethics check" questions if a decision is legal, fair, and how it would make one feel if known publicly. A code of ethics should address honesty, integrity, respect, trust, responsibility, and citizenship. Businesses are now expected to act as socially responsible citizens by giving back to societies and communities.
The document summarizes the formulation of a coupled Stokes-Darcy problem. It introduces the continuous problem, rewrites it using additional unknowns, defines function spaces for the unknowns, and presents the variational formulation consisting of equations for the Stokes and Darcy subproblems and coupling terms. It also decomposes the stress tensor for the Stokes problem. The problem models fluid flow between a fluid domain and porous medium.
Employing a transition management approachto discover a new role for the so...Leen Gorissen
The transition management framework was used to help discover a new role for recycling shops in a region aiming for climate neutrality. Through workshops and meetings, a vision was developed for the recycling shops to become anchors in their communities and engines of innovation in the circular economy. Two potential new roles were identified: being a material matchmaker to close resource loops, and a service matchmaker to promote sustainable choices. While the process generated a shared vision and started anchoring it, not all recycling shop directors were equally committed to developing a new joint future role.
- The document is the unaudited financial statements of Prophecy Resource Corp. as of March 31, 2008, prepared by management without an auditor's review.
- It includes the balance sheet, statement of operations and deficit, and statement of cash flows for the periods ended March 31, 2008 and March 31, 2007.
- The company had a net income of $34,391 for the quarter ended March 31, 2008 compared to a net loss of $55,286 for the same period in 2007.
The document contains a series of writing worksheets for preschool and kindergarten students. Each page focuses on a different letter of the alphabet from A to Z, with the name of an object starting with that letter. The worksheets provide guidance for students to practice writing each letter.
The document describes the Guitar Musicaid Sliderule, a handheld instructional tool that helps guitar players learn notes, scales, chords, and finger placement. It contains a guitar fingerboard card and slider that reveals this information. Users can see fret positions, scale sequences, key signatures, and notes in chords. The slider allows users to select a scale and see the fret starting point and notes. It is priced at $15.99 and available at Guitar Center in Lake Forest. The tool helps players of all ages and eliminates frustration by providing an easy way to master the fingerboard. Teachers can also use it as an instructional aid.
The University Writing Center provides free writing consultation services to UCF students at three locations: Orlando, Daytona Beach, and Cocoa. Students can make appointments for face-to-face, phone, or online chat consultations to get help at any stage of the writing process from brainstorming to final editing. Consultations last 30 or 60 minutes and students should bring assignment details and drafts. The Writing Center helps with overcoming writer's block, developing critical thinking skills, and revising papers.
Naushad has over 9 years of experience in health and safety roles across various industries. He currently works as an HSE Officer for Artelia in Qatar, overseeing the expansion of navigational channels and construction of new islands. Previously he held safety roles in the UAE and India for companies involved in oil/gas, power, construction, and chemicals. Naushad has extensive training and certifications in areas like NEBOSH, fire safety, risk management, and offshore survival. He aims to take on more challenging health and safety positions to further his career growth.
Chief Rascal Speaks for 8 mins, 88 secondsmortybarnett
This document lists the names of various companies and products. It includes social media, marketing, and finance platforms as well as web browsers and creative/design tools. The names range from common terms like Firefox to made-up company names like PSD Gator and Blogbuster. The document ends with a short positive message about honesty and humor.
The document provides unaudited interim financial statements for Prophecy Resource Corp. as of June 30, 2009. It includes an interim balance sheet, statement of operations and comprehensive loss, statement of cash flows, and notes to the financial statements. The balance sheet shows total assets of $1,256,126 including cash of $3,485, short-term investments of $65,000, and mineral properties of $150,750. Total liabilities are $87,011 and shareholders' equity is $1,169,115. The statement of operations shows a net loss of $85,405 for the nine months ended June 30, 2009. The notes provide details on the company's accounting policies for financial statements,
This document is an exhibitor services manual for Predictive Analytics World that provides sponsors with important deadlines, event schedules, and logistical information. It outlines contact information for event management and services, registration details, exhibitor information on move-in/out, and deliverables included in different sponsor packages. The manual also provides information on shipping and deliverables, the standard display package for each sponsor level, exhibitor rules and regulations, and display specifications. It aims to make the planning process smooth and help sponsors with all necessary arrangements.
Prophecy Resource Corp. released unaudited interim financial statements for the period ended June 30, 2007. The statements included a balance sheet showing assets of $921,598 including cash of $461,966, mineral properties of $54,000, and deferred exploration costs of $279,716. The statements also showed a net loss of $30,744 for the quarter and $146,237 for the nine months ended June 30, 2007. Cash flow statements showed $103,812 used in operating activities for the quarter and $184,052 for the nine months.
The document is a collection of writing practice sheets for letters A through Y. Each page focuses on a single letter and provides a word beginning with that letter for students to trace and copy. The pages include the target letter written multiple times in various sizes and styles to help students practice formation. They also include the letter name and a simple picture related to the example word to support early writing skills.
The document provides an overview and history of exploration activities for the OK Property in British Columbia, which Prophecy Resource Corp. has an option to earn a 60% interest in. Key points include:
- Prophecy acquired an option to earn a 60% interest in the OK Property from Eastfield Resource Corp. in 2006 and has since conducted exploration programs including soil sampling, road construction, and drilling.
- The OK Property has a long history of exploration dating back to the 1960s, with over 14,000m of drilling and various geophysical and geochemical surveys conducted by multiple companies.
- Prophecy's most recent work in 2006 expanded road access and located drill sites from previous campaigns, with
Prophecy Resource Corp. acquired an option to earn a 60% interest in the OK Property, a copper-molybdenum exploration property in British Columbia. Prophecy completed an initial public offering, raising $550,000 to fund exploration of the OK Property. Previous exploration at the OK Property between 1966-1977 included over 14,000 meters of drilling and identified copper and molybdenum mineralization. Prophecy's recent work in 2006 included soil sampling, road construction, and facility construction to improve access for planned future exploration drilling.
Prophecy Resource Corp. is a mining exploration company focused on acquiring base and precious metal properties in British Columbia. It acquired an option to earn a 60% interest in the OK copper property located north of Powell River, BC from Eastfield Resources. Prophecy completed an initial public offering in February 2007, raising $550,000 to fund exploration of the OK property. Previous exploration between 1966-1977 included over 14,000 meters of drilling and identified copper and molybdenum mineralization. Prophecy plans to begin exploration of the OK property in May 2007 funded by its IPO and a private placement.
Montoro Resources Inc. owns the Malachite cobalt/copper property in New Brunswick, Canada. Cobalt prices recently hit two-year highs, renewing interest in the property. Previous exploration identified mineralized zones over 600 meters in length and 70 meters deep, containing cobalt, copper, nickel and gold. Tesla's planned lithium-ion battery gigafactory is expected to significantly increase demand for cobalt as batteries contain 2-6 kg of cobalt each. Montoro is seeking partners to continue developing the Malachite property through deep EM surveys and drilling to test below and along strike of known mineralization.
Reservoir Minerals has discovered copper-gold mineralization at its Cukaru Peki project in Serbia through a joint venture with Freeport-McMoRan. Drilling has outlined an inferred resource of 65.3 million tonnes grading 2.6% copper and 1.5 g/t gold. The mineralization consists of high-grade massive sulphide and lower-grade porphyry-style mineralization. A scoping study will evaluate mining options for the high-grade zone, which has the potential to contain direct shipping ore. Further drilling will aim to expand the porphyry-style mineralization. Under the terms of the joint venture, Freeport can earn up to 75% by
Carmax is a Canadian company engaged in exploration and development of porphyry copper-gold-molybdenum deposits in northwestern British Columbia, Canada
The document discusses Minaurum Gold Inc., a mineral exploration company. It summarizes the company's management team which has discovered over 200 million ounces of silver and 10 million ounces of gold. It also discusses the company's projects including the Aurena gold skarn project in Mexico which had positive drilling results returning gold grades over a wide interval. Minaurum also holds several other early stage gold and copper exploration projects in prospective districts in Mexico.
Reservoir Minerals is a Canadian project generator company focused on managing exploration risk through multiple mineral prospects in Europe and Africa. It has two joint ventures in Serbia, including the Timok project with Freeport-McMoRan where a discovery of 65.3Mt at 2.6% copper and 1.5g/t gold was made. Reservoir is well capitalized with C$34.5 million and seeks to introduce joint venture partners to fund exploration after initial value creation, maintaining exposure to discoveries. Upcoming work includes a scoping study on the Timok discovery and drilling to define mineralization limits.
Century Iron Mines Corporation summarizes its 2012 exploration programs and mineral resource estimates. In 2012, the company completed drilling programs at its Joyce Lake, Rainy Lake, and Duncan Lake projects. It also announced new mineral resource estimates for its Hayot Lake, Rainy Lake, and Duncan Lake projects that showed over 10 billion tonnes of inferred and indicated resources among the three projects. The company aims to use drilling results to produce a preliminary economic assessment of the Duncan Lake project in 2013 and become a major Canadian iron ore producer.
Commerce Resources Corp. (TSXv: CCE, FSE: D7H, OTCQX: CMRZF) announced that it has begun mobilizing field crews in advance of the 2011 winter/spring drill program at the Ashram Rare Earth Element (“REE”) Zone located at the Eldor Property in northeastern Quebec.
Reservoir Minerals provides a summary of its business model, projects, and outlook. It operates as a project generator focused on managing exploration risk through multiple early-stage prospects. It has two joint ventures in Serbia, including the Timok project with Freeport-McMoRan where they discovered the Cukaru Peki deposit containing 65.3Mt at 2.6% copper and 1.5g/t gold. Freeport will sole fund a feasibility study for 75% ownership. Reservoir also holds 100% of other prospects and seeks partners to advance exploration. It is well funded with $34.5 million and sees potential for expanding the Cukaru Peki discovery and making new proximal discoveries
International Montoro Resources Inc. announced renewed interest in its Pecors magnetic anomaly on the Serpent River property near Elliot Lake, Ontario. The anomaly may indicate nickel-copper-PGE mineralization similar to deposits to the east at Sudbury. Historic drilling encountered basement rocks under sediment cover, supporting the depth model of the anomaly. Montoro is engaging stakeholders to advance exploration of the target. The company also holds rare earth and uranium properties in Ontario and British Columbia, and uranium properties in Saskatchewan through a joint venture.
This document provides an overview of Kincora Copper, a copper and gold exploration company focused on projects in Mongolia. It summarizes Kincora's two main projects, the Bronze Fox and Tourmaline Hills properties, which cover over 40km2 and have intersected high-grade copper and gold mineralization. The document outlines Kincora's exploration strategy for 2012, which aims to define shallow open pit copper resources and continue exploring for deeper high-grade targets, with a planned budget of $5.2 million for drilling and geophysics surveys. Brief biographies of Kincora's management team are also provided, as well as details of its recent acquisition of the adjacent Tourmaline Hills project.
This document provides an overview of Kincora Copper, a copper and gold exploration company focused on projects in Mongolia. It summarizes Kincora's two main projects, Bronze Fox and Tourmaline Hills, which cover over 40km2 and have shown significant porphyry-style copper and gold mineralization. Exploration to date includes over 23,000m of drilling across the projects, intersecting high-grade copper and gold. Kincora plans a $5.2 million exploration program in 2012 to define open pit resource potential and continue exploring for deeper high-grade zones, with a goal of outlining an initial resource by year end.
Alexco Resources Corporation presented on its plans to continue producing silver while achieving environmental excellence at its Keno Hill Silver District in Canada. The presentation highlighted Alexco's cash position, growing silver resources, current mine operations at Bellekeno, and upcoming developments at Onek, Lucky Queen, and Elsa Tailings. Alexco also discussed expanding exploration efforts across its large land package to further increase silver resources through discoveries like Flame & Moth and Bermingham.
International Montoro Resources has acquired an additional 4 caims covering 4,500 acres, due west of its Carbo group claims in the Rocky Mountain Rare Metal Belt near Prince George, British Columbia.
The document discusses Reservoir Minerals, a Canadian project generator company focused on managing exploration risk through multiple mineral exploration projects in Europe and Africa. It highlights the company's two joint ventures in Serbia - the Timok Project copper/gold exploration with Freeport-McMoRan and the Deli Jovan gold project with Orogen Gold. At the Timok Project, Reservoir and Freeport have made a significant discovery called Cukaru Peki, with an inferred resource of 65.3 million tonnes grading 2.6% copper and 1.5 g/t gold. Freeport is sole funding the project through a feasibility study in exchange for increasing its ownership to 75%. The document provides details on the
The document provides a disclaimer and overview of information regarding the proposed 600 MW Chandgana power plant project in Mongolia. It notes that the information is for general background purposes and has not been independently verified. It warns that the information is subject to changes and updates, and disclaims any liability for inaccuracies or omissions. It also contains cautionary statements regarding forward-looking projections and the risks involved with the development of the power plant.
Prophecy Coal is developing the Chandgana coal field in Mongolia which contains over 1.2 billion tonnes of low-cost, low-ash coal suitable for power generation. The company plans to develop a 600MW power plant at the site in phases, with construction starting in 2013 and power production beginning in 2015 to supply electricity both within Mongolia and for export to China. Prophecy Coal also operates the Ulaan Ovoo thermal coal mine in Mongolia, which has over 208 million tonnes of reserves and expects to increase production to 500,000 tonnes annually by 2012 to supply markets in Mongolia, China, and
Prophecy Coal's proposed Chandgana Power Plant project includes:
1) A 600MW power plant in Mongolia fueled by low-cost, low-ash coal from the nearby 1.2 billion tonne Chandgana coal deposit.
2) Plans for construction to begin in Q2 2013 and the plant to start up in Q2 2015.
3) Potential future expansion up to 3,600MW capacity, partially for electricity export to China utilizing the abundant local coal resources.
1. Prophecy Resources holds over 1.4 billion tonnes of coal resources across two properties in Mongolia.
2. It has secured all necessary permits to construct a mine-mouth power plant at its Chandgana deposit, located 150km from Mongolia's power grid.
3. The company's Ulaan Ovoo mine is currently producing coal, while its large Chandgana project has the potential to help meet Mongolia's growing energy needs and reduce its reliance on costly power imports from Russia.
This financial document summarizes Prophecy Coal Corp's condensed consolidated interim financial statements for the nine month period ended September 30, 2011. It includes the condensed consolidated interim statements of financial position, operations and comprehensive loss, changes in equity, and cash flows. Notes to the financial statements provide details on the nature of operations, basis of preparation of the financial statements, acquisitions and restatements, segmented information, cash and cash equivalents, and other assets and liabilities. Management is responsible for the preparation of the financial statements and maintaining internal controls, while the Board of Directors provides oversight.
This document provides an overview of Prophecy Resources Corp. and its plans to fulfill Asia's growing energy needs through developing the Chandgana Power Plant in Mongolia. It outlines key risks and uncertainties such as obtaining necessary permits and approvals, uncertainties around resource and reserve estimates, and risks associated with operating in foreign jurisdictions. The summary cautions that forward-looking statements are based on assumptions and actual results could differ due to disruptions or other factors.
This document provides information on Prophecy Coal Corp.'s Ulaan Ovoo coal mine and Chandgana coal field projects in Mongolia:
1) Ulaan Ovoo is Prophecy's flagship coal mine in northern Mongolia, with over 20 million tonnes of proven reserves and 208 million tonnes of resources. It has the potential to supply offshore markets in China, South Korea, and Japan as well as domestic markets.
2) Prophecy's Chandgana coal field has over 1.2 billion tonnes of measured and indicated resources that could supply a proposed large-scale power plant project. Phase 1 would generate 600MW for Mongolia and phase 2 could export
Mongolia faces an increasing power deficit as its economy grows at over 10% annually. It currently relies on costly power imports from Russia but needs new domestic generation. Prophecy Coal proposes the 600 MW Chandgana Power Plant, fueled by low-sulfur coal from its nearby mine. The plant aims to reduce emissions and costs while increasing energy independence and potential exports. Prophecy has operated in Mongolia for over a year and requests government support to quickly approve permits to begin construction in 2013 and help meet rising demand.
This document provides the condensed consolidated interim financial statements for Prophecy Coal Corp. for the six month period ended June 30, 2011. It includes statements of financial position, operations and comprehensive loss, changes in equity, and cash flows. Significant notes discuss the company's operations, basis of preparation of the financial statements, acquisitions, segmented information, cash balances, receivables, investments, equipment, properties, loans, share capital, share-based payments, risk management, related party transactions and commitments. The company reported a net loss of $6.8 million for the six month period.
This document provides financial statements for Prophecy Resource Corp. as of September 30, 2006. It includes an auditors' report stating the financial statements fairly represent the company's position. The balance sheet shows total assets of $310,106 including cash, mineral properties, and deferred exploration costs. Total liabilities are $23,292 and shareholders' equity is $286,814. The statement of operations shows a net loss of $98,686. Cash flow statements indicate $301,942 was provided by financing activities including share issuances. Notes provide details on the company's operations, accounting policies, mineral properties, and deferred finance fees.
- Prophecy Resource Corp. released unaudited financial statements for the quarter ended December 31, 2006. The statements have not been reviewed by an auditor.
- During the quarter, the company reported a net loss of $60,207 and ended with $135,119 in cash. The loss was primarily due to $55,304 in stock-based compensation for management fees.
- Cash flows included $4,822 used for deferred exploration costs and $19,000 used for deferred finance fees, while $4,833 was received from related parties.
- Prophecy Resource Corp. provided unaudited interim financial statements for the period ending March 31, 2007.
- The financial statements were prepared by management as the company's independent auditor did not perform a review.
- As of March 31, 2007 the company had cash of $478,299 and mineral properties and deferred exploration costs totaling $153,871. The company reported a net loss of $55,286 for the three months ended March 31, 2007.
The auditors' report summarizes that they audited Prophecy Resource Corp.'s financial statements for the years ended September 30, 2007 and 2006. The auditors conducted their audits in accordance with Canadian generally accepted auditing standards and determined that the financial statements present fairly the financial position of the company.
- Prophecy Resource Corp. published unaudited interim financial statements for the quarter ending December 31, 2007.
- The statements show that the company has $1.49 million in total assets, including $187,510 in cash and $745,337 in deferred exploration costs.
- For the quarter, the company reported a net loss of $44,781 and spent $497,023 on investing activities primarily related to exploration costs and short-term investments.
Prophecy Resource Corp.'s unaudited interim financial statements for the period ending June 30, 2008 show that the company had a net loss of $41,609. Assets included $16,137 in cash, $280,000 in short-term investments, and $1,046,240 in deferred exploration costs. Liabilities were $84,873 including $83,879 owed to related parties. Shareholders' equity was $1,243,731 with share capital of $1,352,176 and a deficit of $303,410.
This document provides the financial statements for Prophecy Resource Corp. as of September 30, 2008. It includes a balance sheet showing total assets of $1,355,633 including cash, investments, and mineral property assets, as well as total liabilities of $105,053 and shareholders' equity of $1,250,580. It also includes statements of operations showing a net loss of $75,326 for the year, comprehensive loss, and deficit, as well as statements of cash flows showing cash used by operating and investing activities and provided by financing activities. Notes to the financial statements provide additional details on nature of operations, accounting policies, and related party transactions.
- The document is the interim financial statements of Prophecy Resource Corp. as of December 31, 2008.
- It includes an unaudited balance sheet, income statement, cash flow statement, and notes. The interim statements were prepared by management without an auditor review.
- As of December 31, 2008 the company had cash of $2,862 and total assets of $1,321,707 against total liabilities of $92,100, leaving shareholders' equity of $1,229,607.
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"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
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A toxic combination of 15 years of low growth, and four decades of high inequality, has left Britain poorer and falling behind its peers. Productivity growth is weak and public investment is low, while wages today are no higher than they were before the financial crisis. Britain needs a new economic strategy to lift itself out of stagnation.
Scotland is in many ways a microcosm of this challenge. It has become a hub for creative industries, is home to several world-class universities and a thriving community of businesses – strengths that need to be harness and leveraged. But it also has high levels of deprivation, with homelessness reaching a record high and nearly half a million people living in very deep poverty last year. Scotland won’t be truly thriving unless it finds ways to ensure that all its inhabitants benefit from growth and investment. This is the central challenge facing policy makers both in Holyrood and Westminster.
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Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
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1. PROPHECY RESOURCE CORP.
MANAGEMENT’S DISCUSSION AND ANALYSIS
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
For the three months ended December 31, 2008
The following discussion and analysis should be read in conjunction with the Interim Financial Statements for Prophecy Resource
Corp (the “Company”) and related notes for the year ended December 31, 2008. All dollar amounts included therein and in the
following management discussion and analysis (“MDA”) are stated in Canadian funds. This discussion is based on information
available as at February 25, 2009.
This discussion contains forward-looking statements that involve risks and uncertainties. Such information, although considered
reasonable by the Company’s management at the time of preparation, may prove to be inaccurate and actual results may differ
materially from those anticipated in the statements made.
The Company was incorporated under the Business Corporations Act (British Columbia) on February 9, 2006 under the name
"Prophecy Resource Corp." Prophecy is focused on the acquisition of base and precious metal exploration properties primarily in
the Province of British Columbia. The Company has no subsidiaries.
Overview
On March 8, 2006 the Company acquired Goldrush Resources Ltd.’s option with Eastfield Resources Ltd. whereby Goldrush had
the right to earn an interest in mineral exploration claims located north of Powell River in British Columbia (the “Okeover
Property”) from Eastfield. James (Bill) Morton, a director of the Company, is the president and chief executive officer of
Eastfield. The Company can earn a 60% interest in the Okeover Property from Eastfield by spending up to $1,000,000 in
exploration on the Okeover Property within four years of the date of the agreement and by making cash payments totalling
$110,000, of which $35,000 has been paid. To acquire the option from Goldrush, the Company issued 100,000 shares to Goldrush
and made cash payments totalling $15,000. Upon the Company earning its 60% interest in the Okeover property, the Company
and Eastfield intend to form a joint venture for the further exploration and development of the Okeover property, with Prophecy
becoming the operator.
The Okeover Copper-Molybdenum Property
The following represents information summarized from a technical report (the "Okeover Property Report") dated October 5, 2006
entitled "Technical Report on the OK Copper Property", prepared by N.C. Carter, Ph.D. P. Eng. pursuant to the provisions of
National Instrument 43-101 ("NI 43-101").
N.C. Carter is a "qualified person" within the meaning of NI 43-101. N.C. Carter is independent of the Company applying all of
the tests in section 1.5 of NI 43-101 and has not had prior involvement with the Okeover Property that is the subject of the Okeover
Property Report.
The Okeover Property (copper-molybdenum) consists of eleven contiguous legacy and cell mineral claims located in the
Vancouver Mining Division of south western British Columbia, 25 kilometres north of Powell River and 145 kilometres northwest
of Vancouver. Collectively, the claims cover an area of approximately 5,233 hectares between latitudes 49059.5’ and 50004.6’
North and longitudes 124037.0’ and 124041.2’
All claims are registered in the name of Eastfield and are subject to a March 4, 2003 option agreement with Robert Edward Mickle
of Likely, B.C. whereby Eastfield has the right to earn a 100% interest in the property subject to a 2.5% net smelter royalty interest
which may be purchased from the vendor for $2 million on commencement of commercial production. Cash payments to the
vendor totalling $88,000 (paid) over a five year period are due at six month intervals in addition to the annual issuance of Eastfield
securities amounting to 125,000 shares over the term of the agreement. The payments totalling $88,000 are payable by Prophecy
pursuant to the terms of the agreement between Prophecy and Eastfield.
Copper and molybdenum mineralization was discovered in creek bottoms in the central part of the Okeover Property in 1965.
Between 1966 and 1977, seven companies carried out a number of geological, geochemical and geophysical surveys, mechanical
trenching and more than 14,000 metres of drilling. Companies working on the property included Noranda Exploration Company
Ltd., Asarco Exploration Company of Canada Limited, Falconbridge Nickel Mines Ltd., Duval International Corporation, Granite
2. 2
Mountain Mines Ltd., Sierra Empire and Western Mines Ltd.
Drilling completed between 1966 and 1977 consisted of 13,831.5 metres of diamond drilling in 82 holes and 12 vertical percussion
holes totalling 732 metres. Average diamond drill hole length was 169 metres and the deepest hole drilled was 363 metres in
length. Vertical percussion holes were drilled to 61 metres depths.
2007 Exploration Program (first phase)
As recommended by N.C. Carter, P. Eng, the Company began a diamond drilling program in early 2007. Prophecy completed two
diamond drill programs on the OK property during calendar 2007, with the first program consisting of seven drill holes totalling
1,229 metres and the second consisting of a further three holes totalling 782 metres (ten holes and 2,011 metres combined).
Four of the holes were completed in the area of the North Lake Zone and all four were successful with OK-07-02 returning an
intercept of 0.24% copper and 0.031% MoS2 from the bottom 23 metres of the hole and OK-07-04 returning an aggregate intercept
of 75 metres grading 0.34% copper and 0.02% MoS2. The three holes forming the eastern boundary of the area of drilling in the
North Lake zone, OK-07-01, OK-07-02 and OK-07-03, all ended in mineralization grading between 0.19% and 0.20% copper.
Three holes completed in the fall of 2007 were completed in the area known as the South Breccia Zone and resulted in the
discovery of a new area of copper- molybdenum mineralization. Highlights of the drilling include hole 07-08 with an intercept of
39.7 metres grading 0.045% MoS2 and 0.27% Cu, including 25.4 metres grading 0.068% MoS2 and 0.25% Cu.
A rock exposure located approximately 400 metres southwest of the North Lake Zone returned an analysis of 0.17 % Mo (0.288%
MoS2 ) and greater than 1000 ppb rhenium. This result encouraged a reanalysis of several other samples which had returned higher
molybdenum values. A higher grade intercept in hole 07-03 which had returned an assay of 1.26% copper and 0.38% Mo (0.63%
MoS2 ) over 0.8 metres (73.7-74.5 metres) returned a rhenium analysis also greater than 1000 ppb which is the upper limit that the
assay lab, Acme Analytical Laboratories Ltd., is equipped to provide. The two samples are approximately 1200 metres distant from
each other.
On May 22, 2008 Prophecy initiated a six hole (1,449 metre) diamond drilling program at Okeover. The predominant thrust of this
program was to significantly expand the known mineral resource at the North Lake Zone, which is one of eight known areas of
significant copper-molybdenum mineralization on the Okeover project. Five of the six holes were completed as step outs to the
south and west sides of the existing resource area at North Lake, with drill results being announced July 28, 2008.
Highlights of the 2008 drill program include Hole OK-08-03, which intersected 45.5 metres grading 0.33% copper and 0.003%
molybdenum, including 12 metres grading 0.41% copper and 0.001% molybdenum. Hole OK-08-03 was drilled 90 metres to the
south of the nearest hole in the current North Lake resource area and creates an open southern edge for future expansion of the
resource area in this direction.
At Okeover, the objectives of the recent program were achieved and expanded the mineralized area of the North Lake Zone
(calculated in 2006 by N.C. Carter, Ph.D., P. Eng to contain 86.8 million tonnes grading 0.31% copper and 0.014% MoS2) a
substantial distance to the south. Prophecy plans to incorporate the drill results from this current program and last year’s drilling
into an updated North Lake resource estimate to be completed in 2009.
A summary of the drill results from the 2008 exploration programs is as follows:
Hole Intercept (m) From To (m) Cu Mo
(m) % %
Ok-08-01 57.0 113.0 170.0 0.30 0.003
Including 42.0 122.0 164.0 0.33 0.003
Ok-08-02 26.3 72.5 98.8 0.26 0.002
And 16.5 107.3 123.8 0.33 0.003
Ok-08-03 198.5 39.5 238.0 0.16 0.001
Including 45.5 39.5 85.0 0.33 0.003
Including 12.0 73.0 85.0 0.41 0.001
Ok-08-04 2.2 98.2 98.0 0.21 0.004
Ok-08-05 46.4 2.1 48.5 0.10 0.001
Hole OK-08-06, drilled three kilometres further to the south, returned only anomalous values, with individual three metres sample
intervals returning values to 0.28% Cu and 0.029% Mo.
3. 3
With this drill program now complete, Prophecy has spent over $1,000,000 in exploration at Okeover and satisfied its work
commitment to earn a 60% interest from Eastfield Resources Ltd. (TSX.V: ETF).
Prophecy believes that well situated copper porphyry projects with access to the Asian Rim will continue to be valuable and can be
expected to be in higher demand once the current western world recession abates.
The Company did not du any work on the Okeover property during the three months ended December 31, 2008. As of December
31, 2008 the Company has spent a total of $1,064,552 on exploration of the Okeover property. During the year ended September
30, 2008, the Company has applied for a mining tax refund from the Government of British Columbia of $45,965 for exploration
work incurred on the Okeover property.
Management’s Discussion and Analysis
The following discussion and analysis is based on the Company’s results of operations and financial position and should be read in
conjunction with the interim financial statements for the three months ended December 31, 2008.
The Company holds an option to earn a 60% interest in eleven contiguous mineral claims in British Columbia totaling
approximately 3,950 hectares called the Okeover Property. The Company is a resource development company focused on the
acquisition and exploration of mineral properties and therefore has no regular cash flow from operations. The level of operations
has been determined by the availability of capital resources. To date, private placements have provided the main source of
funding.
Results of Operations
Operating expenses for the three months ended December 31, 2008 totaled $28,119 as compared to $48,578 during the same period
a year prior. The significant expenditures were as follows:
During the three months ended December 31, 2008 the Company incurred $4,702 for office, rent and expenses, which was reduced
from the $5,005 incurred during the same period a year prior.
There were no professional fees incurred during the three months ended December 31, 2008. This compares to $12,270 incurred
during the three months ended December 31, 2007 due to additional legal fees incurred with respect to a flow-though private
placement financing completed in November, 2007.
During the three months ended December 31, 2008 the Company incurred stock-based compensation expense, a non-cash expense,
of $3.940 for options granted to investor relations consultants that vested during the period. This compares to stock-based
compensation expense of $1,313 charged during the same period a year prior for vesting of these same options, which were granted
in December, 2007.
The Company spent $3,187 for transfer agent and filing fees during the three months ended December 31, 2008. This is reduced
from the $5,040 incurred for transfer agent and filing fees during the three months ended December 31, 2007 when the Company
was issuing shares due to the completion of a private placement.
During the three months ended December 31, 2008 the Company incurred $11,790 for shareholder communications expenses,
which included web site maintenance, consulting, news release dissemination and advertising. This compares to $20,450 incurred
during the same period a year prior. Given current market conditions, the Company intends to further reduce these expenditures in
the coming months.
Management fees of $4,500 incurred during the three months ended December 31, 2008 were unchanged from the same period a
year prior.
During the three months ended December 31, 2008 the Company earned interest income of $3,206 on short-term investments and
cash on hand. This is less than the $3,797 earned during the same period a year prior due to the reduced rate of interest now being
paid by financial institutions in North America.
As a result of the foregoing, the Company incurred a net and comprehensive loss for the three months ended December 31, 2008 of
$24,913 as compared to a loss of $44,781 for the comparable period a year prior.
4. 4
Summary of Quarterly Results
Q1-09 Q4-08 Q3-08 Q2-08 Q1-08 Q4-07 Q3-07 Q2-07
Revenue Nil Nil Nil Nil Nil Nil Nil Nil
Net Income (24,913) (33,717) (31,219) 34,391 (44,781) (16,878) (30,744) (55,286)
(Loss) ($)
Per Share (0.01) (0.01) (0.01) 0.01 (0.01) (0.01) (0.01) (0.01)
(Loss) ($)
The loss for the third quarter of fiscal 2007 decreased to $30,744 from the $55,286 incurred during the second quarter of fiscal
2007 primarily due to a reduction in transfer agent and filing fees to $6,868 from the $28,800 incurred during the second quarter
for completion of the Company’s Initial Public Offering and listing on the TSX Venture Exchange.
The loss for the fourth quarter of fiscal 2007 was reduced to $16,878 primarily due to recording a future income tax recovery of
$34,680 during the period as a result of the issuance of 850,000 flow-through shares during fiscal 2006. This served to reduce the
loss for the period to $16,878 from the $51,558 that would have been recorded otherwise, with the increase from the $30,744
incurred during the third quarter the result of additional stock-based compensation expense, a non-cash item, of $26,392 recorded
during the fourth quarter for options granted to directors earlier in the year.
The loss for the first quarter of fiscal 2008 increased to $44,781 primarily due to the elimination of an allowance for future income
tax recovery of $34,680 incurred during the fourth quarter of fiscal 2007 as a result of the issuance of 850,000 flow-shares during
fiscal 2006 and renounced during fiscal 2007. This served to reduce the loss for the fourth quarter period to $16,878 from the
$51,558 that would have been recorded otherwise, with the decrease in net loss to $44,781 for the first quarter of 2008 due
primarily to a reduction in charges for stock based compensation to $1,313 from the $26,392 incurred during the fourth quarter,
offset by an additional charge of $8,000 for investor relations consulting incurred during the first quarter of fiscal 2008.
The Company recorded income for the second quarter of fiscal 2008 of $34,391 primarily due to recording a future income tax
recovery of $92,380 during the period as a result of the issuance of 2,200,000 flow-through shares during the prior calendar year.
This served to offset the loss for the period of $57,989 that would have been recorded otherwise, with the increase from the
$44,781 incurred during the first quarter of 2008 the result of additional professional fees incurred during the second quarter for
preparation of the Company’s audited financial statements for the prior fiscal year.
As there was no future income tax recovery in the third quarter of fiscal 2008, the Company incurred a loss of $31,219 for the
period. When compared to prior fiscal periods, this reduced loss was primarily as a result of reductions in expenditures for
professional fees and transfer agent and filing fees, offset by additional expenditures for consultants providing shareholder
communications services. The loss for the fourth quarter of fiscal 2008 was relatively unchanged at $33,717.
The loss during the first quarter of fiscal 2009 was reduced to $24,913 from the $33,717 incurred during the fourth quarter of fiscal
2008 primarily due to a reduction in professional fees and expenditures on shareholder relations during the current period.
Liquidity and Capital Resources
Prophecy is in the development stage and therefore has no regular cash flow. As at December 31, 2008, the Company had working
capital of $182,895, inclusive of cash and short-term investments on hand of $137,862. This compares to working capital of
$222,243 at September 30, 2008, inclusive of cash on hand and short term investments of $187,787.
At December 31, 2008 the Company had current assets of $189,245, total assets of $1,321,707 and total liabilities of $6,350. The
Company has no long-term debt other than a liability for future income taxes of $85,750. There are no known trends in the
Company’s liquidity or capital resources.
The principal assets of the Company are its mineral exploration properties, amounting to $1,125,962 as at December 31, 2008.
The decrease in cash during the three months ended December 31, 2008 of $14,925 was primarily due to cash used in operating
activities of $31,550 and property acquisition expenditures of $18,375, offset by cash received from the redemption of short-term
investments of $35,000.
5. 5
The increase in cash during three months ended December 31, 2007 of $159,505 was primarily due to net cash received from the
issuance of shares for cash of $679,700, offset by cash used by operations of $23,172, property acquisition and exploration
expenditures of $247,023 and cash deposited in a short-term investment of $250,000.
The Company had sufficient funds on hand at December 31, 2008 to fund its operating expenses for the balance of the next fiscal
year but will not have sufficient funds to conduct additional exploration at its Okeover property. In November, 2007 the Company
completed a private placement of flow-through securities for gross proceeds of $507,500 to fund phase II exploration work on its
Okeover property during fiscal 2008. This enabled Prophecy to earn its 60% interest in the Okeover property, with Eastfield and
the Company intending to form a joint venture to fund further exploration on the Okeover project in proportion to their respective
interests. At that time, the Company may have to obtain other financing or raise additional funds in order to continue to fund its
share of Okeover exploration expenses. Although the company has been successful in the past in obtaining financing through the
sale of equity securities, there can be no assurance that the Company will be able to obtain adequate financing in the future or that
the terms of such financing will be favorable. Failure to obtain such additional financing could result in the delay or indefinite
postponement of further exploration and development of the Okeover property.
Cash flow to date has not satisfied the Company’s operational requirements. The development of the Company may in the future
depend on the Company’s ability to obtain additional financings. In the past, the Company has relied on the sale of equity
securities to meet its cash requirements. Future developments, in excess of funds on hand, will depend on the Company’s ability to
obtain financing through joint venturing of projects, debt financing, equity financing or other means. There can be no assurances
that the Company will be successful in obtaining any such financing or in joint venturing its property.
Off Balance Sheet Arrangements
The Company has no off Balance Sheet arrangements.
Changes in Accounting Policies
Adoption of New Accounting Standards and Accounting Pronouncements
Effective January 1, 2008, the Company adopted the following new accounting standards that were issued by the Canadian
Institute of Chartered Accountants. These accounting policy changes were adopted on a prospective basis with no restatement of
prior period financial statements:
(i) Financial Instrument Disclosures and Presentation
CICA Handbook Sections 3862 “Financial Instruments – Disclosures” and Section 3863“Financial Instruments – Presentation”
replace Section 3861 “Financial Instruments – Disclosure and Presentation”. The new standards carry forward the presentation
requirements for financial instruments and enhance the disclosure requirements by placing increased emphasis on disclosures about
the nature and extent of risks arising from financial instruments and how the entity manages those risks.
(ii) Capital Disclosures
CICA Handbook Section 1535 requires the company to disclose (a) its objectives, policies and processes for managing capital; (b)
quantitative data about what the entity regards as capital; (c) whether the entity has complied with any capital requirements; and (d)
if it has not complied, the consequences of such noncompliance.
(iv) Going Concern
CICA Handbook Section 1400 - General Standards of Financial Statements. The new standard requires management to make an
assessment of the Company’s ability to continue as a going concern, and to disclose any material uncertainties related to events or
conditions that may cast significant doubt upon the entity’s ability to continue as a going concern.
New Accounting Pronouncements Effective in Future Periods
CICA Handbook Section 3064 - Goodwill and other intangibles assets. This new section replaces Section 3062, Goodwill and
other intangible assets and Section 3450, Research and development costs. It establishes standards for the recognition,
measurement, presentation and disclosure of goodwill subsequent to its initial recognition and of intangible assets by profit-
oriented enterprises. Standards concerning goodwill are unchanged from the standards included in the previous Section 3062. The
new Section will be applicable to financial statements relating to fiscal years beginning on or after October 1, 2008. Management
6. 6
does not expect the adoption of this new standard to have a material impact on the financial statements of the Company or its
business. The Company will adopt the new standards for its fiscal year beginning July 1, 2009.
In 2006, the Accounting Standards Board (“AcSB”) published a new strategic plan that will significantly affect financial reporting
requirements for Canadian companies. The AcSB strategic plan outlines the convergence of Canadian GAAP with IFRS over an
expected five year transitional period. In February 2008, the AcSB announced that 2011 is the changeover date for publicly-listed
companies to use IFRS, replacing Canada’s own GAAP. The date is for interim and annual financial statements relating to fiscal
years beginning on or after January 1, 2011. The transitional date of January 1, 2011 will require the restatement for comparative
purposes of amounts reported by the Company for the year ended June 30, 2010.
Management has attended briefing seminars on the transition to IFRS, and we are awaiting the release of various exposure drafts
and reports which will more clearly define the accounting standards for the mining exploration industry.
Risk, Uncertainties and Outlook
The business of mineral deposit exploration and extraction involves a high degree of risk. Few properties that are explored
ultimately become producing mines. At present, none of the Company’s properties has a known commercial ore deposit.
Operations, the status of mineral property rights and the recoverability of amounts shown for mineral properties can be affected by
changing economic, regulatory and political situations. Other risks facing the Company include competition for mineral properties,
environmental and insurance risks, fluctuations in metal prices, fluctuations in exchange rates, share price volatility and uncertainty
of additional financing.
Related Party Transactions
During the three months ended December 31, 2008, $4,500 was paid to a private company wholly-owned by Stuart Rogers, a
director and Chief Financial Officer of the Company, for office rent and administration services provided to the Company.
During this same period, $4,500 was paid to James Brown, the President and a director of the Company, for management services
provided.
These amounts were incurred in the ordinary course of business.
Contingencies
The Company is aware of no contingencies or pending legal proceedings as of February 25, 2009.
Equity Securities Issued and Outstanding
The Company had 11,100,000 common shares issued and outstanding as of February 25, 2009. In addition, there were 450,000
incentive stock options and a total of 1,583,000 share purchase warrants outstanding as of February 25, 2009.
Disclaimer
The information provided in this document is not intended to be a comprehensive review of all matters concerning the Company.
It should be read in conjunction with all other disclosure documents provided by the Company, which can be accessed at
www.sedar.com. No securities commission or regulatory authority has reviewed the accuracy or adequacy of the information
presented herein.
Certain statements contained in this document constitute “forward-looking statements”. Such forward-looking statements involve
known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the
Company to be materially different from any future results, performance, or achievements expressly stated or implied by such
forward-looking statements. Such factors include, among others, the following: mineral exploration and development costs and
results, fluctuation in the prices of commodities for which the Company is exploring, competition, uninsured risks, recoverability
of resources discovered, capitalization requirements, commercial viability, environmental risks and obligations, and the
requirement for obtaining permits and licenses for the Company’s operations in the jurisdictions in which it operates.