Quest Minerals & Mining Commences Coal Mining at Pond Creek Mine at Slater's Branch
PATERSON, N.J., May 15, 2007 (BUSINESS WIRE) --
Quest Minerals & Mining Corp. (OTCBB: QMMG; Frankfurt: QMN.F), a Kentucky based operator of energy and mineral related properties, announced today that it has received clearance from all requisite state and federal agencies to mine coal at its Pond Creek mine at Slater's Branch, Kentucky.
Rodney A. Robinson, President of General Mining, Quest's mine operator, stated, "We are pleased to report that our rehabilitation of the Pond Creek mine is substantially complete and that we can now mine commercial coal while completing the remaining rehabilitation work."
Eugene Chiaramonte, Jr., President of Quest, stated, "We are excited to report that we have started mining again at Slater's Branch. This is a significant step towards generating revenues, achieving profitability, and restoring the financial health of Quest. General Mining has done an excellent job in reopening the mine. We feel that this is a significant turning point for our company and our shareholders."
Quest now intends to attempt to reopen its second mine at Slater's Branch in the Lower Cedar Grove seam, which has over 2,000,000 tones of coal in place. Recent tests on the Lower Cedar Grove seam indicate a strong potential for use of the coal as a blend on multiple metallurgical orders. In anticipation of this reopening, General Mining has moved mining equipment onto the property which it intends to use at the Lower Cedar Grove seam. In order to recommence mining operations at Lower Cedar Grove, Quest and General Mining will need to rehabilitate the mine, file a new mine plan, and obtain all required insurance, permits, and approvals to recommence mining operations at Lower Cedar Grove. The Lower Cedar Grove seam is already covered under the existing mine permit and bond with the Kentucky Department of Natural Resources.
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.
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.
SOURCE: Quest Minerals & Mining Corp.
Quest Minerals & Mining Corp. Eugene Chiaramonte, Jr., 973-684-0035
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