Brien Lundin, in the July, 2012, edition of the Gold Newsletter, refreshes his buy of Prophecy Platinum Corp., recently $2.10. Mr. Lundin said buy in August, 2011, at $3 and in May, 2012, at $2.64. Assuming a $1,000 investment for each buy, the $2,000 position is now worth $1,493. Prophecy has released its dream sheet (formally preliminary economic assessment) for the Wellgreen project in the Yukon. The PEA estimates a net present value of $3-billion, or 25 times Prophecy's market cap of $116-million. It also estimates the production of 1.96 billion pounds of nickel, 2.06 billion pounds of copper, and 7.1 million ounces of platinum, palladium and gold, over a 37-year mine life. Now, Prophecy is testing samples for four more platinum group elements, rhodium, ruthenium, osmium and iridium. It also continues to drill. Recently Prophecy arranged a $20-million private placement of special warrants at $2.25 (regular) or $2.50 (flow-through). It later replaced this with an $11.25-million private placement of units at $2.25, "to minimize dilution," according to newly appointed chairman John Lee. Mr. Lundin says these private placements and the chairman's comments have created uncertainty. Nevertheless, buy.