December 12, 2007
Imagin Natural Resources Announces Mining Acquisition
Imagin Natural Resources, LLC, ("INR") announced today that they have acquired Toney's Fork and the Huff Creek reserves from Ashland, Kentucky-based Energy Coal Resources, LLC.
The Logan County, West Virginia area properties, which will now collectively be known as Toney's Fork, represent in excess of 100 million tons of steam and met coal. INR plans to begin immediate development of several underground mines and additional surface mines while continuing to operate the existing Toney's Fork surface mine.
Gerry Spindler, Chairman of INR, stated, "We are delighted to complete our first acquisition with such a large, high quality property. This acquisition puts INR on the map and will become the cornerstone of our Eastern U.S. operations."
Gary Rogliano, CEO, added, "INR continues to pursue additional investments in coal and other minerals as well as mines, mineral transportation assets and land investments. We expect to close on several other properties in the near future." Rogliano further stated that Jim Campbell has joined the team as Chief Operating Officer.
In a separate deal, INR has also acquired a dock on the Big Sandy River.
INR is a Richmond, Virginia-based natural resource company investing in mining companies, mining operations, reserve positions and other mining related interests including docks, terminals, and transportation assets associated with minerals. INR's investment partners include NGP Midstream & Resources, L.P. a private equity fund that invests in select areas of the energy infrastructure and natural resources sectors.
INR may be contacted through Gary Rogliano at (804)-282-0369 or [email protected]