The Company also expects to provide an updated preliminary economic assessment on the Wellgreen project in calendar Q1 2014 that will build on the 2012 PEA by evaluating the potential of further optimization of PGM and base metal recoveries, higher concentrate grades and developing a better understanding of the economic contribution of the rare PGMs. Our engineering activities will optimize surface infrastructure, determine if pre-production capital can be decreased and/or deferred and look to enhance cash flows by decreased operating costs.
At our Shakespeare project, we will continue our evaluation of potential cost savings opportunities to assess restarting mining operations there. This work will include discussions and negotiations with contract mining companies, trucking firms and milling operations in the Sudbury area.
With the scarcity of large PGM projects outside of southern Africa and Russia we believe that the scale of Prophecy Platinum's projected North American PGM production will become of interest to potential investors in the sector. Our business strategy will be to demonstrate the full potential of the Wellgreen project and to de-risk the project through the next steps of engineering toward feasibility, which should support higher valuations in the market and expand our investor base. We look forward to reporting on the exciting developments ahead for the Company and its projects as we remain focused on delivering increased shareholder value.
About Prophecy Platinum
Prophecy Platinum Corp. is a growth-focused PGM exploration company with projects in the Yukon Territory, Ontario and Manitoba, Canada. The Company's 100% owned Wellgreen PGM-Ni-Cu project, located in the Yukon, is one of the world's largest PGM deposits and one of few significant PGM deposits outside of southern Africa or Russia. The Company's Shakespeare PGM-Ni-Cu project is a fully-permitted, production-ready mine located in the Sudbury mine district of Ontario, and its Lynn Lake project is a former operating mine located in Manitoba, Canada. The Company's experienced management team has a track record of successful large scale project discovery, development, operations and financing combined with an entrepreneurial and collaborative approach to working with First Nations and communities. The Company's shares are listed on the TSX-Venture exchange under the symbol "NKL" and on the US OTC-QX market under the symbol "PNIKF".
Further information about the Company and its projects can be found at www.prophecyplatinum.com.
Forward Looking Information: This news release includes certain information that may be deemed "forward-looking information". All information in this release, other than information of historical facts, including, without limitation, information of potential mineralization, the estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, future production estimates, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, and future plans and objectives of the Company are forward-looking information that involve various risks and uncertainties. Although the Company believes that the expectations expressed in such forward-looking information are based on reasonable assumptions, such expectations are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking information. Forward-looking information is based on a number of material factors and assumptions.
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