PATERSON, N.J., Aug 20, 2007 (BUSINESS WIRE) -- Quest Minerals & Mining Corp. (OTCBB: QMMC; Frankfurt: QMN.F), a Kentucky based operator of energy and mineral related properties, announced today that it has just completed a longitudinal adjustment to their directional heading in the Pond Creek Mine at Slater's Branch. This should enable the mining equipment to return a higher rate of recovery.
Eugene Chiaramonte, Jr., President of Quest, stated, "We continue to make what we believe are the most efficient adjustments as possible to achieve the best results that we can. Now we will sever more carbon and collect less ash, which we expect to result in cleaner coal. In the meantime, coal demand for the low sulfur coal being produced at the Pond Creek seam remains strong, and we are continuing to ship coal to our customers above the current market prices.
"We continue to target Labor Day as our goal to reach 20,000 raw tons per month. In addition, we will now be able to accelerate the process of reopening the Lower Cedar Grove seam, located in Slater's Branch, and the Taylor seam, located in Hurricane Branch."
About Quest Minerals & Mining
Quest Minerals & Mining Corp., or Quest, acquires and operates energy and mineral related properties in the southeastern part of the United States. Quest focuses its efforts on properties that produce quality compliance blend coal. The company's wholly-owned subsidiary, Gwenco, Inc., currently leases over 600 acres of coal mines that have approximately 12,999,000 tons of coal; 9,000,000 of which are proven reserves. For more information on Quest Minerals & Mining Corp., please visit our website at www.questmining.net.
Forward-Looking Statements
This document contains discussion of items that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although Quest believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ from expectations include, but are not limited to, lack of revenue producing operations, lack of working capital, debt obligations, judgments and lien claims against Quest and certain of its assets, difficulties in refinancing short term debt, difficulties identifying and acquiring complementary businesses, fluctuations in coal, oil & gas, and other energy prices, general economic conditions in markets in which Quest does business, extensive environmental and workplace regulation by federal and state agencies, other general risks related to its common stock, and other uncertainties and business issues that are detailed in its filings with the Securities and Exchange Commission.
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
![[Big Grin]](biggrin.gif)
