PATERSON, N.J., Aug. 12, 2009 (GLOBE NEWSWIRE) -- Quest Minerals & Mining Corp. (Pink Sheets:QMIN) (Frankfurt:QMN9), a Kentucky-based operator of energy and mineral related properties, announced today that its wholly owned subsidiary, Gwenco, Inc., has received new coal orders from a large coal production and distribution company.
Eugene Chiaramonte, Jr., President of Quest, stated, "We have received new orders from a large coal operation, and we are filling these orders. This new account has also indicated that it will continue to order more coal from us for the foreseeable future. After a disappointing first half of 2009, we are starting to see signs that demand for coal, both in the United States and abroad, is rebounding and getting stronger. In addition to our new account, other coal purchasers have indicated their interest in purchasing our coal. We are also encouraged by industry analyst reports that international exports, particularly to Asia, are dramatically increasing due to increased steel mill production, and that U.S. steel producers are also showing positive signs."
Quest also stated that it anticipates announcing its second quarter operating results between August 14 and August 19, 2009.
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.
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Eugene Chiaramonte, Jr., President of Quest, stated, "We have received new orders from a large coal operation, and we are filling these orders. This new account has also indicated that it will continue to order more coal from us for the foreseeable future. After a disappointing first half of 2009, we are starting to see signs that demand for coal, both in the United States and abroad, is rebounding and getting stronger. In addition to our new account, other coal purchasers have indicated their interest in purchasing our coal. We are also encouraged by industry analyst reports that international exports, particularly to Asia, are dramatically increasing due to increased steel mill production, and that U.S. steel producers are also showing positive signs."
Quest also stated that it anticipates announcing its second quarter operating results between August 14 and August 19, 2009.
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.
www.globenewswire.com/newsroom/...ml?ref=rss&&d=171248
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