Sing it with me… “You load 16 tons, whaddya get? Another day older and deeper in debt…”
— Tennessee Ernie Ford
Today I am attending another “Accredited Investor” event in San Francisco, which I found out about courtesy of another sophisticated investor friend of mine whom you will hopefully be hearing more from in the future! (Yep, even in the investing world it’s as much “who you know” as “what you know”, and it’s so important to get a feel for the actual people behind the business, as I wrote about here in “People Power”).
We will be hearing a presentation on a tiny coal company in Mongolia called Prophecy Coal Corporation. This is a teeny-tiny company that trades on the Toronto Stock Exchange (the “TSX”) — I just peeked and currently its shares are trading for $0.42 (yes, less than a dollar…).
Of course, these shares could as easily go to $0 as they could pop to $1.00 or more, so that is why I am going to investigate this opportunity thoroughly before committing any of my hard-earned dollars to it.
Also, I know exactly zero about coal, other than the awesome ol’ country tune above and the fact that it’s quite dirty…in fact, it fascinates me that this presentation is being held in San Francisco, one of the “greenest” cities in the nation, and quite possibly the world!
This will be a fantastic learning experience, and I’m really looking forward to attending today.
I will have a lot to report back to you on tomorrow! Here is the blurb from today’s luncheon event:
Prophecy Coal Corp. (TSX: PCY) (OTCQX:PRPCF)(Frankfurt: 1P2) is a Canadian listed company engaged in developing energy projects in Mongolia. The company has over 1.4 billion tonnes of surface minable thermal coal resources on two coal properties in Mongolia. Prophecy Coal’s Ulaan Ovoo coal mine is in production and its Chandgana mine mouth power plant has been permitted. Prophecy Coal is the controlling share holder of Prophecy Platinum Corp (TSX-V: NKL). Mineral resources that are not mineral reserves do not have demonstrated economic viability. Further information on Prophecy Coal can be found at www.prophecycoal.com.
I hope you have a fantastic day and seize an opportunity to learn or do something new yourself! Have a great day!
To your financial success,
—Kung Fu Girl