Prophecy Resource Corp.
has signed an agreement securing the right to load and the capacity to
transport by rail 1.5 million tons of coal annually from its Ulaan Ovoo coal
project, with the option to increase capacity based on availability. Prophecy
has also contracted Leighton Asia Ltd. to produce 250,000 tons of coal
at Ulaan Ovoo in 2010, raising the volume to 2 million tons in 2011. Having
established the mine plan and secured rail transport, Prophecy is finalizing a
truck leasing agreement to provide hauling of coal from mine site to Sukhbaatar
railway station, thus rounding up the entire transportation logistics to
Chinese and Russian markets.