PATERSON, N.J., Dec. 3, 2009 (GLOBE NEWSWIRE) -- Quest Minerals & Mining Corp. (Pink Sheets:QMIN) (Frankfurt:QMN9), a Kentucky based operator of energy and mineral related properties, today announced coal revenues of $292,000 for the month of November 2009. Quest's operating subsidiary, Gwenco, Inc., produced and shipped 8,700 gross tons for the month, resulting in sales of 4,150 clean tons of coal. Eugene Chiaramonte, Jr., President of Quest, stated, "We are pleased to report that Gwenco has managed to maintain its production levels for the month of November, despite the many obstacles it encountered over the last few weeks. Nine days straight of an annual Federal electrical inspection, coupled with extra equipment repairs, caused almost two weeks of downtime for the operation. Even with only half a month of production, we were able to match October's results. This means that the company is still on course to produce 20,000 gross tons per month." "If we are able to continue operating without anymore significant delays or mining stoppages, we should closeout the year on a strong note. The company has already more than doubled its revenues from 2008. So we look forward to seeing the final results." 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 w+1mEte 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. CONTACT: Quest Minerals & Mining Corp. Eugene Chiaramonte, Jr. 973-684-0035 |
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