I don't know why John wastes his time in interviews that tell investors nothing that we don't already know.

What should be said is there will be lots o' news in the first two weeks of April... To me that would make for a much better interview. An interview like that would not waste the time of the CEO or the investors.

With that being said... go back and re-read what I said... Just if you didn't catch it the first time.

MINES & MONEY HK: Prophecy

Resource mulls HK listing

24 March 2011

Prophecy Resource Corp is considering launching a third listing on the Hong Kong Stock Exchange

(HKSE) to attract more Asian investors.

"We are considering it, yes. We would be silly not to," chairman and ceo John Lee told MB.

"Hong Kong is one of the biggest capital markets for mining and investors here are becoming more

sophisticated," he added.

Prophecy Resource, which has thermal coal assets in Mongolia and nickel-platinum group metals (PGMs)

deposits in Canada, is listed on the Toronto Stock Exchange's junior Venture market and the Frankfurt

Stock Exchange.

About 30% of Prophecy's existing shareholders are European, with 30% North American and 20% Asian,

said Lee — the company's largest shareholder — on the sidelines of the Mines and Money conference in

Hong Kong.

He does not know the geographical bases of the remaining investors.

"Given the proximity of our resource [in Mongolia], it makes sense to list in Hong Kong," Lee said, adding

that the company also planned to list on the Mongolian Stock Exchange as soon as possible.

In preparation for a possible HKSE listing, Prophecy will strengthen its board with some well-known

executives in the mining and metals sector, Lee said, declining to give names.

Prophecy is preparing to spin off its nickel-PGMs business to attract more investors to both those assets

and the company's coal portfolio.

"[The coal and nickel assets] are anti-complementary," he said. "The markets are confused about who we

are; we're experiencing an identity crisis. The presence of the PGMs in the coal story distracts

[investors]."

Prophecy announced the spin-off in late January and is preparing the circular for the transaction.

The nickel assets are to become part of Pacific Coast Nickel Corp (PCNC), which Prophecy will own a 90%

stake in following the share-only deal.

Once the transaction is complete, Prophecy will change its name to Prophecy Coal Corp and PCNC will

be renamed Prophecy Platinum Corp.

The company hopes to complete the deal by the end of April.

The spin-off would come at a time of high activity in the capital markets for Canadian nickel juniors, he noted.

Prophecy's projects, Wellgreen and Lynn Lake, have an inferred resource of 490 million lbs of nickel and

559 million lbs of copper, according to a company presentation.

By 12-18 months, Prophecy would have defined the resources and be in a position to estimate the cost of

developing the projects, Lee said.

Until there was a clear idea of the capital expenditure the deposits demand, Lee would not look to sell the

assets, he said.

He was not concerned that the market could be flooded with nickel from Sherritt, Vale and Xstrata's new

projects by the time his sulphide deposits come on stream, he said.

Rising power prices in China and growing demand for stainless steel would keep nickel consumption high

and fundamentals strong, he said.