Coal Recommendations

Coalspur Mines Ltd.

Colin Healey, Haywood Securities (1/29/14) "CPT's $10M standby facility represents the ongoing support of a major shareholder."

Colin Healey, Haywood Securities (1/14/14) "With an expected positive outcome of the Alberta regulator's decision, CPT continues to work toward final permitting for Vista."

Colin Healey, Haywood Securities (12/10/13) "CPT has made significant strides in dealing with intervening parties."

Mike Plaster, Salman Partners (12/10/13) "CPT's agreement with Tourmaline allows Vista to be developed per plan."

Mike Plaster, Salman Partners (12/6/13) "CPT has entered into agreements with two Alberta First Nation groups."

Colin Healey, Haywood Securities (12/5/13) "CPT's Vista has potential to be a long-life operation with solid project economics."

The Mining Report Interview with Thomas Drolet (12/3/13) "CPT is a well managed company with a great property at Vista."

Colin Healey, Haywood Securities (11/14/13) "CPT's Q3/13 results contained no surprises."

Mike Plaster, Salman Partners (10/16/13) "CPT's Vista project has strong support from the local community in Hinton."

Colin Healey, Haywood Securities (10/16/13) "We rate CPT a Buy."

Colin Healey, Haywood Securities (10/4/13) "CPT's Vista project is peerless across North America."

Mike Plaster, Salman Partners (8/16/13) "CPT's Vista thermal coal project is in the final stages of the review process of its license application."

Colin Healey, Haywood Securities (8/16/13) "CPT should be able to maintain its target production date for Vista."

Colin Healey, Haywood Securities (8/14/13) "CPT's Vista coal project is peerless in North America."

Colin Healey, Haywood Securities (6/27/13) "CPT is one step closer to obtaining funding through two financings."

Colin Healey, Haywood Securities (6/20/13) "CPT's Vista project is peerless across North America."

David Charles, Dundee Capital Markets (6/20/13) "CPT has already significantly derisked Vista; we reiterate our Buy rating."

Colin Healey, Haywood Securities (5/16/13) "CPT's Vista project is peerless across North America."

Mike Plaster, Salman Partners (5/16/13) "CPT is advancing into key construction at Vista."

Mike Plaster, Salman Partners (5/1/13) "As Vista advances into the key construction phase, expect some positive catalysts for CPT's stock."

Mike Plaster, Salman Partners (4/19/13) "CPT's debt facility allows the company to move forward with development of Vista."

Colin Healey, Haywood Securities (3/27/13) "CPT's rail transportation agreement is a positive, derisking step."

David Charles, Dundee Capital Markets (3/27/13) "We reiterate our Buy rating on CPT."

Esmarie Swanepoel, Mining Weekly (3/27/13) "CPT confirmed its logistics costs for Vista remain as projected."

David Charles, Dundee Capital Markets (3/27/13) "CPT is well positioned to weather the cycles in thermal coal markets."

David Charles, Dundee Capital Markets (2/28/13) "With his extensive industry experience, Colin Gilligan is an excellent addition to CPT's team."

Mike Plaster, Salman Partners (2/28/13) "CPT's appointment of Mr. Gilligan should bolster the company's operational depth."

Prophecy Coal Corp.

The Energy Report Interview with James West (2/26/13) "PCY has its power offtake agreement in place and financing commitments from various entities."

Coalspur Mines Ltd.

Meredith Bandy, BMO Capital Markets (2/26/13) "Construction at CPT's Vista is expected to commence in Q2/13."

The Energy Report interview with Colin Healey (2/14/13) "The potential is definitely there for good margins and a long life of mine for CPT."

Meredith Bandy, BMO Capital Markets (2/11/13) "We are reiterating our Outperform rating for CPT and increasing our target price."

CBM Asia Development Corp.

Peter Dupont, Edison Investment Research (2/5/13) "We initiate coverage of TCF; coal characteristics appear highly propitious for coal-bed methane development."

Bob Moriarty, 321 Energy (2/1/13) "TCF's Kutai West resource is explosive."

Coalspur Mines Ltd.

Stuart Howe, Bell Potter Securities Ltd (1/15/13) "We're attracted to the potential scale and independent location of CPL's Vista project."

Mike Plaster, Salman Partners (1/9/13) "Exercising CPT's options represents a vote of confidence in the company's prospects."

Mike Plaster, Salman Partners (12/20/12) "CPT secured financing for a big portion of the initial capex for Vista."

Mike Plaster, Salman Partners (12/14/12) "CPT's agreement with CN Rail is an important development milestone for its Vista thermal coal mine."

Mike Plaster, Salman Partners (12/11/12) "The Hinton town council's approval of CPT's Vista mine is a positive step."

Prophecy Coal Corp.

The Energy Report Interview with James West (11/15/12) "At this level, I think PCY is attractive."

Coalspur Mines Ltd.

Mike Plaster, Salman Partners (11/13/12) "CPT is adequately funded through the phase 1 regulatory process for its Vista project."

Mike Plaster, Salman Partners (11/1/12) "The project timeline for CPT's Vista project remains on track."

Mike Plaster, Salman Partners (10/29/12) "CPT's plan allows more capex to be funded from operational cash flows."

Coalspur Mines Ltd.

David Charles, Dundee Capital Markets (10/29/12) "CPT's optimization of its Vista project is positive."

Colin Healey, Haywood Securities (10/26/12) "CPT's optimization study lowers the capital needed to bring Vista into production."

Colin Healey, Haywood Securities (10/26/12) "CPT's optimization study lowers the capital needed to bring Vista into production."

Meredith Bandy, BMO Capital Markets (10/25/12) "We view CPT's development plan revision as modestly positive."

Mike Plaster, Salman Partners (9/10/12) "CPT is adequately funded for the next steps at Vista."

Colin Healey, Haywood Securities (9/7/12) "CPT's full-year results highlight strong progress at Vista."

Meredith Bandy, BMO Capital Markets (9/6/12) "We rate CPL Outperform Speculative."

Prophecy Coal Corp.

Brad Lemaire, Proactive Investors (8/7/12) "PCY unveiled its power division named Prophecy Power."

Coalspur Mines Ltd.

Mike Plaster, Salman Partners (8/1/12) "CPT continues to move forward with project development work."

Prophecy Coal Corp.

Chen Lin, What Is Chen Buying? What Is Chen Selling? (7/31/12) "I was very impressed with the assets PCY has assembled in a few short years."

Coalspur Mines Ltd.

David Charles, Dundee Capital Markets (7/30/12) "We are reiterating our Buy recommendation on CPT."

Mike Plaster, Salman Partners (7/30/12) "CPT's mine plan projects an annual, clean coal yield of 61.5%."

Prophecy Coal Corp.

Erin Sugar, Proactive Investors (7/17/12) "PCY can complete the purchase of the Tugalgatai coal licenses, which host 650 Mmt Measured."

The Energy Report Interview with Chen Lin (7/12/12) "I wouldn't be surprised if PCY continues to find more buyers in Mongolia."

CBM Asia Development Corp.

Dougie Youngson, Seymour Pierce (7/5/12) "We initiate coverage of TCF with a Buy recommendation."

Coalspur Mines Ltd.

Mike Plaster, Salman Partners (5/30/12) "We expect the expertise of CPT's new CEO to be helpful in negotiating project financing."

Prophecy Coal Corp.

James West, Midas Letter (5/29/12) "There's no doubt PCY is sitting on substantial coal resources."

Coalspur Mines Ltd.

Mike Plaster, Salman Partners (5/24/12) "CPT announced a substantial increase in the thermal coal resources at Vista South."

Prophecy Coal Corp.

Carrie White, Proactive Investors (5/24/12) "PCY's sale of thermal coal sets a benchmark for the continuation of offtake discussions."

Coalspur Mines Ltd.

Mike Plaster, Salman Partners (5/17/12) "CPT has number of potentially value-enhancing catalysts on the horizon."

Mike Plaster, Salman Partners (5/9/12) "CPT's Vista extension provides the potential to increase mine life."

Geordie Mark, Haywood Securities (5/9/12) "CPT's newly acquired Vista extension shows growth potential."

David Charles, GMP Securities (4/30/12) "CPT has increased its footprint and added blue sky."

Mike Plaster, Salman Partners (4/26/12) "CPT could increase the annual marketable coal production at Vista."

Prophecy Coal Corp.

James West, Midas Letter (4/9/12) "PCY is clearly in undervalued territory."

Coalspur Mines Ltd.

SteelGuru (3/30/12) "CPT's output at Vista is projected to reach 11.2 Mt/year by 2019."

David Charles, GMP Securities (3/29/12) "CPT has improved its already excellent logistical advantage."

The Energy Report Interview with Thomas Drolet (3/22/12) "CPT is an example of a Canadian junior with exceptional holdings of land and coal."

Prophecy Coal Corp.

The Energy Report Interview with Thomas Drolet (3/22/12) "PCY is well positioned to develop exports to China."

Leo Liu, Resource Investors (3/19/12) "PCI's Changdana thermal coal power plant is the first sizeable new power plant in Mongolia in decades."

Coalspur Mines Ltd.

The Energy Report Interview with Geordie Mark (3/13/12) "There is no other thermal coal project in North America of CPT's scale."

Prophecy Coal Corp.

The Energy Report Interview with Chen Lin (2/28/12) "I like PCY; its stock is rising this year."

Coalspur Mines Ltd.

Meredith Bandy, BMO Capital Markets (2/27/12) "We view CPT's loan facility agreement favorably."

David Charles, Dundee Capital Markets (2/27/12) "CPT has positioned itself to negotiate with off-take partners as an equal."

Geordie Mark, Haywood Securities (2/27/12) "The facility allows CPT further advancement of the Vista project."

Prophecy Coal Corp.

The Energy Report Interview with James West (2/23/12) "The best coal story in terms of near-term appreciation is PCY."

Coalspur Mines Ltd.

Meredith Bandy, BMO Capital Markets (2/21/12) "CPT's bankable feasibility study increased its reserves and production."

Raymond Goldie, Salman Partners (2/13/12) "CPT is pursuing discussions with potential off-take partners to provide future funding."