PHI Group Progresses on Indonesia Coal Resource Acquisition

PHI Group Inc. (OTCQB:PHIE.PK) announced the signing of an LOI for a 20.7 million tons of coal resources in Indonesia.

As quoted in the press release:

According to the signed Letter of Intent, PT. CSP and PHI Group will enter a definitive agreement to fix the price, terms and conditions of the transaction within the month of February 2012 or soon thereafter.

Click here for the PHI Group Inc. (OTCQB:PHIE.PK) press release.