Lundin says buy Prophecy Platinum

2011-08-30 18:32 ET - In the News

Brien Lundin in the August, 2011, edition of the Gold Newsletter says buy Prophecy Platinum Corp., recently $3. This is the first time he has recommended Prophecy Platinum, a spinout of Prophecy Coal Corp. (recently 66 cents). Mr. Lundin said buy Coal three times between February, 2010, and June, 2011, at prices ranging from 40 cents to 72 cents. Assuming a $1,000investment for each buy, and taking into account the Platinum shares received by Coal shareholders in the spinout (and sold), the $3,000 investment in Coal is now worth $3,793 in Coal shares plus $48 from the sale of spun-out Platinum shares. We sell at the open for portfolio purposes, crediting the Coal position with the money. Platinum owns the Wellgreen project in Yukon, previously operated by HudBay Minerals Inc. HudBay left behind four shafts and more than four kilometres of underground workings at Wellgreen. Now, Platinum is assessing the project's open-pit potential. Platinum has released a resource estimate for Wellgreen -- 2.64 billion pounds of nickel, 2.43 billion pounds of copper, 207 million pounds of cobalt and 12 million ounces of PGM plus gold. The estimate pushed the stock up to $5.32 from 74 cents in a week. Mr. Lundin says start buying Platinum shares, now that the price has settled down.