Quest Announces Coal Loading Facility Agreement.
SPONSOR ADS
Oct 18, 2004
BELFRY, Ky. -- Quest Minerals and Mining Corp. (OTCBB: QMMG) through its wholly owned subsidiary Quest Marine Terminal LTD., announced today that it has secured the right to refurbish and operate a 13 acre permitted deep water coal loading facility on the Ohio River for a 30 year term. The facility is located in the area known as the "Big Sandy" where there are 14 other current facilities that ship over 25,000,000 tons of coal per year.
The company has obtained written estimates of approximately \$1.8 million dollars to bring the facility to state of the art conditions and for initial working capital. Subject to funding, the facility should be in operation by January 2005 with a through-put capacity of 3,600,000 tons of coal per year.
The company believes this strategy is the best way to maximize both growth and potential profit, as most of the 14 terminals in the area are owned by larger companies who are no longer shipping third party coal. This opens the possibility for the companies to not only ship their coal but to offer dockage to other companies looking for additional dockage. Quest has internal management with dock management experience of over 25 years. For a complete listing of the benefits of this move, investors are encouraged to go to our company website at www.questminerals.com where the company plans to have the entire synopsis available shortly.
Further information about Quest Minerals and Mining can be found on the Web at: www.questminerals.com
Safe Harbor Statement:
Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the actual results of the company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "belief," "expects," "intends," "anticipates," "will," "or "plans" to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's reports and registration statements filed with the Securities and Exchange Commission.
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Certain matters discussed in this press release are "forward-looking statements." These forward-looking statements can generally be identified as such because the context of the statement will include words, such as Quest Minerals and Mining "expects," "should," "believes," "anticipates" or words of similar import. Similarly, statements that describe Quest Minerals and Mining's future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties, including the financial performance of Quest Minerals and Mining, as appropriate, which could cause actual results to differ materially from those currently anticipated. Although Quest Minerals and Mining believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, they cannot give any assurance that their expectations will be attained. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating any forward-looking statements. Certain factors could cause results and conditions to differ materially from those projected in these forward-looking statements, and some of these factors are discussed below. These factors are not exhaustive. New factors, risks and uncertainties may emerge from time to time that may affect the forward-looking statements made herein. These forward-looking statements are only made as of the date of this press release and Quest Minerals and Mining does not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
As a result of these and other factors, current results may not be indicative of Quest Minerals and Mining's future performance. For more information on Quest Minerals and Mining and for a more complete discussion of the risks pertaining to an investment in Quest Minerals and Mining, please refer to Quest Minerals and Mining's filing with the Securities and Exchange Commission.
