VHGI Holdings, Inc. Announces First Coal Delivery To Indianapolis Power & Light For 2013
SULLIVAN Ind., April 1, 2013 /PRNewswire/ -- VHGI Holdings, Inc. (OTCQB: VHGI) is pleased to announce the successful delivery of 4,868 tons of coal from the Landree Mine to Indianapolis Power & Light on Friday March 29, 2013. This shipment, along with a 10 car test train the week before, brings the total shipped in March to approximately 5,700 tons.
"We are extremely pleased with the progress that our team has made over the past month and beginning to see the benefits of the phase one improvements to the underground operations and the preparation plant. Phase one upgrades will continue through most of April," said Ron Hutchcraft, President of VHGI Coal. Beginning in May most of the initial construction for the one unit mine will have been completed.
The production target levels and timelines at the Landree Mine for Phase one are 20,000 tons per month beginning May 1st. The next coal delivery of 50 cars is targeted for April 10, 2013. The speed of deliveries will be governed by mining conditions as well as the remaining implementation of Phase one this month. Through all the infrastructure construction and underground development process, Landree Mine continues to have an excellent safety record reaching 400 days without a Lost Time Accident.
About VHGI Holdings, Inc.
VHGI Holdings, Inc. (OTCQB: VHGI) ( www.lilygroup.com ) is a diversified company with assets and interests focusing on opportunities within Precious Metal Mining and Coal Mining Industry. VHGI Holdings is actively pursuing new opportunities within these industries to maximize shareholder return.
VHGI Holdings, Inc. Safe Harbor Statement
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SOURCE VHGI Holdings, Inc.