posted
Keep a close watch on this one, chart looks great. rumor of a big news this coming week Good luck all
Posts: 4071 | Registered: Dec 2005
| IP: Logged |
posted
Looking for positive news but instead we get DILUTION, R/S and NAME CHANGE !! None of this is a positive for those of us already in the stock. Several websites already screaming SELL !! Not good .... imho
-------------------- " Cash is King " Posts: 1102 | From: NJ | Registered: Mar 2006
| IP: Logged |
Quest Minerals & Mining Retains General Mining to Rehabilitate Pond Creek Mine Friday February 16, 6:30 pm ET
PATERSON, N.J.--(BUSINESS WIRE)--Quest Minerals & Mining Corp. (OTCBB: QMMG - News; Frankfurt: QMN.F - News), a Kentucky based operator of energy and mineral related properties, today announced that it has retained General Mining, LLC, of Wallins, Kentucky, to rehabilitate the company's Pond Creek Mine at Slater's Branch, Kentucky. Quest has also granted to General Mining a right of first refusal to act as the company's contract miner once the rehabilitation is completed.
Eugene Chiaramonte, Jr., President of Quest, stated, "We are very excited to have retained General Mining to rehabilitate the Pond Creek Mine. General Mining has over 30 years of experience in the coal mining industry and has an excellent reputation for providing quality work. We are looking forward to having General Mining as part of our team and we look forward to a prosperous relationship."
In addition to rehabilitating the mine, General Mining will proceed to obtain all necessary licenses from the requisite Federal and State authorities to allow it to complete the rehabilitation and commence mining operations.
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. 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.
posted
Quest Minerals & Mining Provides Updates on Reopening of Pond Creek Mine at Slater's Branch, Acquisition of Parsons Branch Permit Thursday March 29, 6:30 am ET
PATERSON, N.J.--(BUSINESS WIRE)--Quest Minerals & Mining Corp. (OTCBB: QMMG - News; Frankfurt: QMN.F - News), a Kentucky based operator of energy and mineral related properties, today provided an update on its efforts to reopen its Pond Creek mine located at Slater's Branch Kentucky.
Rodney A. Robinson, President of General Mining, Quest's mine operator, stated, "We are pleased to report that our rehabilitation and reopening of the Pond Creek mine is currently on schedule. We have made significant progress in completing the required rehabilitation items, and we continue to believe that we can complete these items by the end of April, 2007. Once we have completed this rehabilitation, we can begin mining coal at Pond Creek."
In addition, Quest provided an update on the non-binding letter of intent between Quest and Parsons Branch Development to acquire a permit to mine the Elkhorn #2 seam on Parsons Branch located in Mud Creek, Kentucky. Parsons Branch Development has approximately 450,000 tons of clean coal under lease at this location. The letter of intent remains in effect and Quest intends to complete this transaction. Upon completion of the transfer of the permit to Quest, Quest would retain all revenues from coal sales after payment of a royalty to Parsons Branch of $1.50 per clean ton mined and expenses of mine operations, which are expected to be carried out by a contract miner.
Eugene Chiaramonte, Jr., President of Quest, said, "With approximately 450,000 tons of clean coal, we believe that this project has tremendous potential. We have been seeking new energy opportunities to enhance stockholder value, and we believe that the Big Mud Creek region holds great opportunity. We are excited about working with Parson Branch Development to create real value with this prospect."
The transaction is subject to due diligence, negotiation of definitive agreements, regulatory approval of the transaction, and satisfaction of other customary conditions to closing.
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. 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
