Re: Offering now $42 million... Cash Flow!!
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Welcome To The Prophecy Resources HUB On AGORACOM
1.4 billion tonnes of coal need I say more? If so keep on reading.
Message: Offering now $42 million.
This coin has two sides.
On the one side we will call Heads:
We have all the money we need that will let us buy our own fleet of vehicles that will allow us to lower our operating costs and hence improve the IRR.
On the other side we will call Tails:
We have a little more paper than I typically like to see in exploration companies. NOW with that being said we are a producing company that has cashflow and we don't have to worry about the CAPEX as the rest should be paid out of cash flow in 2011.
Other thoughts
The devil is in the details.
With more drilling to upgrade the M&I toP&P will see a mine life that is much longer than 30 years so we will see a mine life increase of 3X or more in 2011.
All coal quality values are stated on an "as received" basis. The total Mineral Reserve Estimate is 20.7 M proven t (Mt) of Product (Low Ash) Coal. Mineral Reserve estimate considers only the first phase of the project development of the Mineral resources contained in the Ulaan Ovoo project. Opportunity may exist for extension of additional low ash reserves to the south with an expanded pit and a higher throughput rate.
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