WESTON, Fla., Dec. 13, 2004 --(PRIMEZONE)- Wall Street News Alert's "stocks to watch" this morning are: Quest Minerals and Mining Corporation (OTCBB:QMMG), Finisar Corporation (Nasdaq:FNSR), Mission Resources Corporation (Nasdaq:MSSN) and FLYi, Inc. (Nasdaq:FLYI).
Aggressive investors and traders need to focus their attention on Quest Minerals and Mining Corp. (OTCBB:QMMG) this morning! Friday after the markets closed, the company issued a press release announcing the expansion of reserves at the Slater's Branch Mine.
This could be good news for investors! According to the company's press release, core drilling has shown its Pond Creek Seam height to be 44 inches at 350 feet from the current mine face. Initial reserve estimates of 3,000,000 tons of coal at Pond Creek had previously been based on a 26-inch average seam height.
Keep your eyes open for future developments! "Based on these core samples, we expect our current recoverable reserves at the Slater's Branch properties to increase by as much as 50%," said William "Randy" Wheeler, CEO of Quest Minerals and Mining. "Quest should be mining clean coal from this seam by the end of December with a run rate of 20,000 tons per month by the end of the first quarter of 2005."
Pond Creek coal averages 12,500 BTUs per ton and is generally less than 0.6% sulfur per ton. Coal buyers refer to Pond Creek coal as "super compliance" coal, commanding over $60 per ton FOB at the Big Sandy Docks.
For more in-depth coverage of Quest, visit http://216.63.242.254/QMMG1213.htm
The stock closed Friday at $1.70 a share.
In case you are not familiar with the company: Quest acquires and operates energy and mineral-related properties in eastern Kentucky, southwestern West Virginia, and western Virginia.
Stocks showing interesting activity yesterday at the close of the regular trading day were: Finisar Corporation (Nasdaq:FNSR) up 18.5% on 13.8 million shares traded, Mission Resources Corporation (Nasdaq:MSSN) up 9.9% on 1 million shares traded and FLYi, Inc. (Nasdaq:FLYI) up 16.4% on 2.7 million shares traded.
Commentary:
"The dollar has lost more than 30 percent of its value against the euro over the last three years, and recently dipped to new lows. It has recovered somewhat from several weeks of selling, and was trading at $1.32 against the euro late Friday, but still remains quite weak," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.
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