Prophecy Adds Second Drilling Rig to Pulacayo Silver Project in Bolivia
und:
· We signed a landmark 30-year Pulacayo mining production contract with the Bolivian government.
· We signed a life-of-mine cooperation agreement with the Pulacayo mining cooperatives. (We consider government and community relations as our strong suits.).
· We eliminated all the Bolivian tax liabilities which incurred more than 10 years ago.
· We drilled Pulacayo and Paca for the first time in eight years, with the best Paca drill hole intersecting 12 meters of 1,085 g within 79 meters of 279 g/t. This is comparable to the best drill results from our neighbor New Pacific Metals Corps Silver Sands project. We have barely scratched the surface of this massive system (literally as well as metaphorically). Pulacayo drilling is ongoing, with results pending throughout Q1 2020.
· We raised $6.9 million in equity with lead orders from Eric Sprott, who alone owns 9% of Prophecy, along with several new institutional funds. Additionally, no warrants were offered in the equity placements.
· We filed Gibellini vanadium environmental baseline reports and the Plan of Operations with BLM and the Water Pollution Control Permit (WPCP) and Air Quality Permit with State of Nevada on time and under budget. |