MONGOLIA – Prophecy files revised Chandgana PEA

Prophecy Coal has filed a revised NI 43-101 compliant technical report on its Chandgana Tal coal mining licences in central Mongolia, including an updated Chandgana Preliminary Economic Assessment (PEA). The PEA examines the economics of coal production from the mining licences and excludes the Chandgana Khavtgai exploration licence.

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MONGOLIA - Placement funds for Erdene drilling

Erdene Resource Development Corp intends to issue, by way of a non-brokered private placement, up to 4,062,500 units for gross proceeds of up to $650,000. Each unit will consist of one common share and one-half of one common share purchase warrant, with each whole common share purchase warrant entitling the holder to purchase one common share of the company at a price of $0.24 for a 24 month period from the closing date.

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KYRGYZ REPUBLIC - White Cliff placement

White Cliff Minerals has launched a share purchase plan offering shareholders up to $15,000 of shares each to raise up to $502,000. The funds will be used for trenching and drilling at the high grade Chanach Copper-Gold Project.

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PAPUA NEW GUINEA – Frontier & Quintessential terminate JV

Frontier Resources announces that the 50/50 contributing joint venture with Quintessential Resources on the island of New Britain has been terminated. The JV consisted of three exploration licences which have reverted to the original holders.

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