VHGI Holdings, Inc. (VHGI) Extends Letter of Intent to Purchase Indiana Coal Company with Strategic Indiana Mine
VHGI Holdings, Inc., a diversified company with assets and interests focusing on opportunities within the Precious Metals and Energy Resources Markets and its wholly-owned operating company, VGHI Coal, Inc., announced that it has extended its binding letter of intent until January 30, 2012 for the purchase of an Indiana-based company that operates a coal mine. The company has a right to mine 2,800 acres that are expected to yield 21 million saleable tons of coal with the ability to grow to 80 million recoverable tons. The mine is anticipated to be in full production by January 2012 with the assistance…