He will succeed Patrick Langlois, who has resigned from the company.

Brokerage industry veteran Bruggeman most recently led the institutional equity sales and trading group at a boutique brokerage firm that focused heavily on small-cap mining operators.

Prior to that, he served as a small cap equity research analyst at a brokerage firm from 2000 to 2005 and a desk analyst and proprietary trader at a large Canadian financial firm from 2005 to 2010.

The graduate of McMaster University and Schulich School of Business worked in the telecom industry before entering the brokerage sector.

“Rob has solid research, sales and trading experience in mining equities and will anchor our presence in Toronto,” chairman and chief executive John Lee said.

“Team building is a top priority at Prophecy 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 has more than 1.4 billion tons of surface mineable thermal coal resources on two coal properties in Mongolia.