This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

VHGI Holdings Provides Landree Mine Update

SULLIVAN, Ind., March 06, 2013 /PRNewswire/ -- VHGI Holdings, Inc. (OTCQB: VHGI) is pleased to announce the following update for the Lily Group Inc. Landree Mine Phase 1 Project.

Work at the Landree Mine located in Greene County, Indiana, is primarily focused on the continuous underground development toward the first panel. Improvements and upgrades are being made to the underground equipment that will increase the mechanical availability and improve production rates. Surface upgrades and improvements to the plant, load out and overland belts will increase plant throughput, increase plant yield and automate some functions that were typically labor intensive. 

"With our funding in place we have accelerated the pace of development with the hiring of additional personnel, bringing our total work force to 66 employees," said Rick Risinger, CEO of VHGI Holdings.  "This will allow us to start shipping coal in March ahead of our original production timeline," continued Risinger.

" Dave Smith, Mine Superintendent, and the Landree Mine team have done an exceptional job the past two weeks working diligently to complete a lot of the improvements necessary to start producing, processing and shipping coal. Their efforts should allow us to ship our first scheduled train to IP&L on March 26, 2013," said Ron Hutchcraft, President of VHGI Coal.  "Our goal is to be mining in the first panel by the end of the month, which will provide us the best opportunity to achieve higher production rates, lower operating costs and increased revenue," concluded Hutchcraft.

Lily Group Inc. is contracted to produce and ship a minimum of 180,000 tons at a contract price of $61 per ton to Indianapolis Power and Light for 2013.

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 StatementThe statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development and any other statements not constituting historical facts are "forward-looking statements," within the meaning of and subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results. This document may contain forward-looking statements concerning the Company's operations, current and future performance and financial condition. These items involve risks, contingencies and uncertainties such as product demand, market and customer acceptance, the effect of economic conditions, competition, pricing, the ability to consummate and integrate acquisitions, and other risks, contingencies and uncertainties detailed in the Company's SEC filings, which could cause the company's actual operating results, performance or business plans or prospects to differ materially from those expressed in, or implied by these statements. The Company undertakes no obligation to revise any of these statements to reflect the future circumstances or the occurrence of unanticipated events.

Contact: Jim Bender812-268-5459

SOURCE VHGI Holdings, Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs