PATERSON, N.J., Nov. 10, 2008 (GLOBE NEWSWIRE) -- Quest Minerals & Mining Corp. (OTCBB:QMLM) (Frankfurt:QMNA), a Kentucky based operator of energy and mineral related properties, today announced that in the first six weeks of the fourth quarter alone, the company has already matched its entire first nine months of coal sales for the year. It also plans to post their best revenues since recommencing operations in May, by more than doubling its revenues from 2007.
Everett Hampton, President of Whitestar Mining, LLC. commented, "It has been a challenging road of equipment repairs, federal and environmental regulations and increasing mining costs, but we have managed to overcome every obstacle. We are now on a seven-face cycle with 2 Joy continuous miners, 2 shuttle cars, and 2 scoops, and a completely rehabilitated belt line. We should continue to see more positive results going forward."
Eugene Chiaramonte, Jr., President of Quest, stated, "We look forward to finishing out these last eight weeks of the year on a strong note. Our coal sales are beginning to compound very rapidly. We have already doubled last year's revenues and hope to quadruple them by year-end. The future looks very good."
Information for Stockholders
As a result of the reverse stock split, stockholders will receive one new share of common stock for every ten shares held. Registered holders may request a letter of transmittal from the Company or its transfer agent, Nevada Agency & Trust Company, for the exchange of stock certificates. Stockholders with shares in brokerage accounts will be contacted by their brokers with instructions. Fractional or partial shares will not be issued and instead will be rounded up to the nearest whole number of shares. Stockholders with shares held in brokerage accounts are encouraged to contact their brokers with any questions.
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.