Prophecy Coal Corp. (TSX: PCY, OTC-QX: PRPCF, Frankfurt: 1P2) is an internationally diversified thermal coal production company that controls two large and distinct coal deposits in Mongolia. In November 2011, the Mongolian government issued Prophecy an official permit to construct a 600MW power plant at the site of its Chandgana deposit and the Company continues to advance the project. A power purchase agreement (PPA) is now in negotiations with a committee of the Mongolian Ministry of Mineral Resources and Energy and is expected to be finalized in Q2 2012. Prophecy has also been in ongoing discussions with Engineering, Procurement and Construction (EPC) management firms and anticipates awarding a construction contract also in Q2 2012.The company's second project, the Ulaan Ovoo mine, was commissioned for production in November 2010 and has been supplying domestic thermal coal power plants since that time. Prophecy Coal holds 22.5 million shares of Prophecy Platinum (TSX.V: NKL) along with the Okeover Property (copper-molybdenum) and the Titan Vanadium-Titanium-Iron projects in Canada.