Ekaterina Zelenkova
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Prophecy Resource Corp. (CVE:PCY), (PINK:PRPCF) Stock Makes the Upward Opening Ceremony

by Ekaterina Zelenkova Nov 12, 2010
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PCY_price_chart.jpgFollowing yesterday's announcing of the final permit for mining operations at the company's Ulaan Ovoo coal mining project in Mongolia, Prophecy Resource Corp. (CVE:PCY), (PINK:PRPCF) stock made the opening ceremony for its at least mid-term upward move.

Yesterday, on the TSX Venture Exchange PCY soared 15.85% between the sessions. The huge demand for the shares made a quadruplicated average trading volume of more than 4.5 million shares.

During the official opening of PCY upward move, a new 52-week high was noted. If its quantitative expression was $1.06 per share, the qualitative was the willingness of investors to trade PCY stock beyond the symbolic for traders $1 price level.

On the American premier OTCQX market tier, investors enjoyed a 16.66% price increase for  PRPCF. Today, the shares of Prophecy Resource Corp. added 6.09% in value on the Frankfurt Stock Exchange, while on Xetra they advanced by 3.62% from the previous day.

Prophecy Resource Corp. received the final permit to commence mining operations at its Ulaan Ovoo coal mining project in Mongolia this Tuesday. The company has a 100% interest in the Ulaan Ovoo Mine. The Mongolian Government has granted the project a fully transferable 30-year mining license that can be extended by additional 40 years.

PCY_from_the_site.pngAs stated by the company, the mine is ready for production and the official mine opening ceremony will be held on November 20, 2010.

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