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, announced today that it is adding additional mining equipment to its Pond Creek Mine at Slater's Branch in anticipation of increased coal production. Quest is currently completing its rehabilitation of the mine, which would allow Quest to significantly increase its coal production.
The new equipment being installed is a coal separation unit fabricated by Work Welding of Pisnon Fork, Kentucky. Workmen Welding specializes in specialty fabrication products for enhanced recovery at coal mines.
Eugene Chiaramonte, Jr., President of Quest, stated, "With this new equipment, we believe that we can increase the coal quality that is shipped to the preparation plant by up to 30%, which should increase the value of raw tonnage shipped by over $5.00 per ton. We also expect that this would reduce trucking costs by over 20%. If we are able to increase our production to our goal of an average of 20,000 tons per month, we expect that the increased productivity from this equipment could improve our results of operation by up to $200,000 per month."
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.
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