Quest Minerals & Mining Adds Equipment to Increase Coal Production Wednesday October 17, 6:00 am ET
PATERSON, N.J.--(BUSINESS WIRE)--Quest Minerals & Mining Corp. (OTCBB: QMMC - News; Frankfurt: QMNA.F - News), a Kentucky based operator of energy and mineral related properties, announced today that it has acquired an additional Joy 14-10 miner for its Pond Creek Mine at Slater's Branch pursuant to a lease with an option to buy.
The miner has been installed at the mine face and will begin operating today. The Joy 14-10 miner has been refurbished and is capable of mining over 20,000 raw tons of coal per month. The miner has an enhanced scrubber system, which is designed to reduce dust at the head in order to increase visibility for the operator.
From the mine site, Eugene Chiaramonte, Jr., President of Quest, stated, "We are very pleased to report that we have acquired and installed an additional Joy 14-10 miner. This acquisition gives us two operational 14-10 miners at Slater's Branch, which should eliminate down time and increase operating efficiency."
"In addition, our mining conditions have improved due to what is known as 'draw rock' thinning," Chiaramonte continued. "'Draw rock' is the loose roof rock that falls and adds ash content to the coal. Based on core hole samples, we believe that we are headed to mining conditions that will have reduced ash content due to the elimination of the 'draw rock.'
"In addition to getting Pond Creek to this production level, we are continuing to seek to reopen the Lower Cedar Grove seam, located in Slater's Branch, and the Taylor seam, located in Hurricane Branch."
Quest also announced that it continues to move forward with its plans to re-open the Lower Cedar Grove seam, located in Slater's Branch, and the Taylor seam, located in Hurricane Branch. Samples indicate that the Lower Cedar Grove seam will produce metallurgical blend coal, and Quest's market research indicates that there is high demand for this type and quality of coal.
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.
Contact: Quest Minerals & Mining Corp. Eugene Chiaramonte, Jr., 973-684-0035 Source: Quest Minerals & Mining Corp. |