PATERSON, N.J., March 10, 2008 (PRIME NEWSWIRE) -- Quest Minerals & Mining Corp. (OTCBB:QMNM) (Frankfurt:QMNB), a Kentucky based operator of energy and mineral related properties, announced today that it is nearing completion their new rehabilitation of its Pond Creek Mine at Slater's Branch since the termination of their former contract mining company In December.
Eugene Chiaramonte, Jr., President of Quest, stated, "We are very pleased to report that we are close to completing the new rehabilitation of the Pond Creek Mine. Barring any unforeseen delays, we believe that the rehabilitation will be completed by early April. Once White Star Mining, our new contract miner, completes the rehabilitation, we expect that our production of raw tonnage should exceed 10,000 tons per month. Our goal remains to continue to increase our production until we reach an average of 20,000 raw tons per month from the Pond Creek seam. We continue to achieve premium pricing for our coal, above spot market prices, due to its quality in terms of BTUs, inherent ash, and sulfur content, and we expect that we will be able to continue to achieve strong pricing as production continues."
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.