Topic: How To Invest

Your opinion on Prophecy Platinum and their prospects ahead. Thanks.

Article Excerpt

Prophecy Platinum, $0.63, symbol NKL on Toronto (Shares outstanding: 76.6 million; Market cap: $42.2 million; www.prophecyplat.com), has two main projects: The 100%-owned Wellgreen platinum group metals (platinum, palladium and rhodium)-nickel-copper project in the Yukon, which the company believes is one of the world’s largest undeveloped platinum group metals deposits and one of few significant PGM deposits outside southern Africa or Russia. Platinum and palladium are mainly used in catalytic converters for automobiles. The 100%-held Shakespeare nickel mine, where production was suspended in early 2012 due to low nickel prices. Prophecy received this project with last year’s acquisition of Ursa Major Minerals. Prophecy is now undertaking a drilling program to define the mineral resource at Wellgreen. It’s basing this program on data from previous drilling at the site in the 1950s. At Shakespeare, the company is waiting for metal prices to rebound before it can profitably restart the mine. In June 2013, Prophecy raised $5.9 million in a share issue to fund this year’s…