Tuesday, 21 August 2012

Prophecy Coal names Bruggeman as new VP of corporate development

Prophecy Coal Corp. (CVE:PCY) Thursday named a new vice president of corporate development with the appointment of Rob 

Bruggeman, who has worked in the brokerage industry for over a decade in Toronto, holds a bachelor of engineering and management degree from McMaster University. 

In addition, he holds a Master of Business Administration in Strategy & Finance from the Schulich School of Business and is a chartered financial analyst charter holder.

Most recently, he led the institutional equity sales and trading group at a boutique brokerage firm with a strong focus on small cap mining companies. 

Between 2000 and 2005, he worked as a small cap equity research analyst at a brokerage firm. From the year 2005 to 2010, he was a desk analyst and proprietary trader at the institutional equities division of a large Canadian financial institution. 

Prior to joining the brokerage industry, Bruggeman worked for a Canadian telecom company where he held a variety of roles, including corporate development. 

"Rob has solid research, sales and trading experience in mining equities, and will anchor our presence in Toronto," Prophecy Coalchief executive John Lee said in a statement. 

"Team building is a top priority and we will continue to bring on key marketing and technical management positions to advance Prophecy's strong suite of high quality assets worldwide."

Prophecy Coal is engaged in developing energy projects in Mongolia. 

Earlier this month, the company announced its proposed 600 megawatt power plant next to the Chandgana coal deposit was permitted by the Mongolian government. 

The project will be implemented in two phases. Phase 1 will see two 150 megawatt and transmission lines built next year and completed by 2016. Phase 2 construction will see two 150 megawatts being built in 2014 and finished by 2017.

Since obtaining the license, the company has been in on-going talks with the Mongolian government to finalize power purchase agreements to secure the country’s long-term energy supply.

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