Quest Minerals & Mining Expands Reserves at Slater's Branch Mine.
SPONSOR ADS
Dec 10, 2004
BELFRY, Ky. -- Quest Minerals and Mining Corp. (OTC BB: QMMG), a Utah corporation, today announced that core drilling has shown its Pond Creek Seam height to be 44 inches at 350 feet from the current mine face. Initial reserve estimates of 3,000,000 tons of coal at Pond Creek had previously been based on a 26 inch average seam height.
Quest acquires and operates energy and mineral-related properties in eastern Kentucky, southwestern West Virginia, and western Virginia.
"Based on these core samples we expect our current recoverable reserves at the Slater's Branch properties to increase by as much as 50%," said William "Randy" Wheeler, CEO of Quest Minerals and Mining. "Quest should be mining clean coal from this seam by the end of December with a run rate of 20,000 tons per month by the end of the first quarter of 2005."
Pond Creek coal averages 12,500 BTUs per ton and is generally less than 0.6% sulfur per ton. Coal buyers refer to Pond Creek coal as "super compliance" coal, fetching over \$60 per ton FOB at the Big Sandy Docks.
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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