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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
The 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.