VHGI Current Price: .461 VHGI is continuing its breakout The Stock Wizards is keeping a close eye on VHGI despite its recent gains The stock has been making new highs and we believe 2012 could be VHGI`s year! VHGI recently made plans to put its coal mine into full production.
Read release below:
VHGI Holdings, Inc. (OTC.QB: VHGI) recently announced that its wholly-owned operating company, VGHI Coal, Inc., has extended its binding letter of intent until January 30, 2012, to purchase, an Indiana-based company whose sole operations consists of operating a coal mine in Indiana. VHGI and Rick Risinger, the sole shareholder of the mining company, are in the process of finalizing the definitive transaction documents and obtaining the various bank, third-party and regulatory consents necessary to consummate the transaction. The parties intend to close this transaction as soon as possible following receipt of such consents. VHGI Coal has already invested approximately $4.5 million in the Company in order to build-out the infrastructure and put the mine into full production by January, 2012.
The company has the rights to mine a total of 2,800 acres, with verified reserves of 21 million saleable tons of coal available, with the ability to expand to an additional 80 million recoverable tons. The mine has received all necessary regulatory approvals, and is currently in production. The mine is currently shipping and producing approximately 130,000 tons of coal since August 2011, and is expanding production starting in January.
Recent Corporate Update:
VHGI Holdings, Inc. Announces Intent to Spin-Out Medical Office Software Subsidiary VHGI Holdings, Inc. Extends Letter of Intent to Purchase Producing Coal Mine Operation in Indiana in order to Secure Consents Keep VHGI on your radar as, we believe we could be in for a profitable 2012!Sincerely, The TheStockWizards.net Team Discloser, Disclaimers: http://clicks.aweber.com/y/ct/l=E7UkF&m=3kXct4prnJXPW_t&b=Sfmg0i7m_2AP3iqkAhufvw Forward-Looking Statement: This press release includes “forward-looking statements” within the meaning of the federal securities laws, commonly identified by such terms as “believes,” “looking ahead,” “anticipates,” “estimates” and other terms with similar meaning. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company`s projections and expectations are disclosed in the Company`s filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions. TheStockWizards.net is not a registered investment advisers or broker/dealer.
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