Universal Bioenergy to Begin Selling Coal from Whitesburg Mine in Late March

Universal Bioenergy Inc. (OTC Pink:UBRG) announced that it plans to begin selling coal from its Whitesburg Friday Branch Mine in the third week of March.

As quoted in the press release:

The Company forecasts the sales of coal should generate an estimated $52.80 million in revenues and an estimated $5 million to $8 million in earnings annually.

The Company has an agreement in place to begin selling thermal steam coal to a subsidiary of the sixth largest metallurgical coal producer in the U.S., with an annual volume of more than 4 million tons.

Vince M. Guest, Universal’s President commented:

This is a major turning point for the Company since Whitesburg has obtained all of the state permits and completed all of the required land reclamation. This puts our coal production and sales about one month ahead of schedule.

Click here to read the full Universal Bioenergy Inc. (OTC Pink:UBRG) press release.