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 ready to start mining the new mine face at its Pond Creek Mine at Slater's Branch on Monday, July 30, 2007. Quest has completed its equipment installation at the new mine face and has completed its surveys on the new mine face location. It has also completed a sufficient enough portion of the rehabilitation to commence higher productivity operations.
Eugene Chiaramonte, Jr., President of Quest, stated, "We are very pleased to report that we are now at the new face at the Pond Creek Mine and are ready to start mining significant amounts of coal. During the ongoing rehabilitation, we have been producing 150 to 300 tons per day, as we needed to spend a substantial portion of our resources for rehabilitation and compliance with federal and state inspection agencies. We have substantially completed the rehabilitation, and we have completed our equipment installation and necessary surveys to mine the new mine face. We can now shift our primary focus from rehabilitation to coal production. The residual rehabilitation required should not interfere with production and should be complete by the end of next week.
"With this achievement, we anticipate that we will start producing between 500 to 700 tons of coal per day, starting Monday. This equates to 10,000 to 14,000 tons per month.
"As a result of this accomplishment, we now seek to establish a second shift at the mine to allow us to reach our goal of 20,000 tons per month. We are currently targeting Labor Day to reach this goal, and we believe that, with the progress we have made, we will reach that goal. In addition, this breakthrough will allow us to move forward with our plans to reopen 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. 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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