PHI Group Hires Senior Geologist to Manage Exploration and Mining Activities
Company Announces May 14 Conference Call
LOS ANGELES, CA and JAKARTA, INDONESIA -- (Marketwired) -- 05/10/13
-- PHI Group, Inc. (OTCQB: PHIL), (PINKSHEETS: PHIL), a company
focused on energy and natural resources, announced today that the
company has retained Agus Budiluhur as its senior managing geologist
to manage its exploration and mining activities in Indonesia and
other countries in South East Asia.
Holding a Masters Degree in Operation Management from the University
of Indonesia and a Bachelors Degree in Geology from Bandung Institute
of Technology, Indonesia, Agus has vast experience in exploration
geology, mine operations and project management, resource and reserve
modeling and estimation, pit designs, mine planning, and feasibility
study and has held various management positions with major
internationally listed mining companies including Rio Tinto, Barrick
Gold, BHP Biliton and Noble Resources.
Agus will work closely with RungePincockMinarco to complete the
technical due diligence for the PT Tambang Sekarsa Adadaya coal
concessions that PHI Group has signed an agreement to acquire as well
as manage other aspects of the company's exploration and mining
activities in Indonesia and Southeast Asia.
In another development, the company's management and Indonesian legal
counsel conducted a site visit of PT Harjo Mas Makmur's currently
producing coal mine and its physical assets including outcrops,
mining pits, access road, weight bridge, crusher, conveyor system,
jetty and operation facilities in East Kalimantan as part of the
continued due diligence process in connection with the contemplated
acquisition of this concession.
PHI Group CEO Henry Fahman will host a conference call for
shareholders and investors at 04:30 P.M. EST on Tuesday, May 14,
2013. To participate in the conference call, dial +1-209-647-1000 and
enter Conference ID 767368#.
About PHI Group
Following a double-tracked energy strategy, PHI
Group accumulates energy-related assets and other natural resources,
develops power plants, and provides advanced renewable energy
solutions. In addition, the company manages trading activity
involving energy products
, precious metals and other industrial
commodities. Website: www.phigroupinc.com.
Safe Harbor: This news release contains forward-looking statements
that are subject to certain risks and uncertainties that may cause
actual results to differ materially from those projected on the basis
of such forward-looking statements pursuant to the "safe-harbor"
provisions of the Private Securities Litigation Reform Act of 1995.
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