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Originally Posted by t8v6
anyone else holding pcy.v? Apparently they're soon to renamed to be Prophecy Coal and when the happens shareholders will be given free shares of Prophecy Platinum.. anyone have details on that?
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I'm a shareholder. I've been holding the stock since the last round of mergers. The guy running it is quite savvy in the sense of buying the expertise his team lacks. I don't think they're attracting the right people so it makes you wonder somebody somewhere must be doing something wrong. In the current climate with their stable of prospects you would think their management team would be stacked with operational gurus. The exact opposite is in play, the management team consists of marketing people and all operations have been outsourced. The flagship project is goal in mongolia and everything from taking pulling the coal to selling it to the end user is outsourced. It allows them to get the product to the market quickly but they're paying a big premium. Also, the guy running the company doesn't have a pedigree one would expect and that's why the share price is garbage. Prophecy has a bunch of rainmakers on their advisory board but they're paid to lend their name, not to make decisions. The guy is doing a great job marketing the project and that's about it.