June 24, 2008 - 4:42 PM EDT
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QMNM 0.026 -0.0465
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Quest Minerals & Mining Revels From the Increased Demand for Coal
PATERSON, N.J., June 24, 2008 (PRIME NEWSWIRE) -- Quest Minerals & Mining Corp. (OTCBB:QMNM) (Frankfurt:QMNB), a Kentucky-based operator of energy and mineral related properties, announced today that it has received several offers for their coal in excess of $110 per ton. Any production above and beyond their current contractual obligations will allow Quest to net higher than anticipated earnings due to the current market prices. The company is currently preparing to mine its Pond Creek location, held under its wholly owned subsidiary, Gwenco, Inc.
Eugene J. Chiaramonte, Jr., President of Quest Minerals & Mining Corp., stated, "This does not come as a surprise to me since we have always had high quality coal in market demand."
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: PrimeNewswire (June 24, 2008 - 4:42 PM EDT)
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