Quest Minerals & Mining Opens Second Seam at Slater's Branch Mine.
SPONSOR ADS
Dec 14, 2004
BELFRY, Ky. -- Quest Minerals and Mining Corp. (OTCBB:QMMG), a Utah corporation, today announced its intention to re-open the Lower Cedar Grove seam by the end of February 2005. The Lower Cedar Grove seam is already permitted and bonded. Quest is responding to high market demand for coal with metallurgical properties.
Quest acquires and operates energy and mineral-related properties in eastern Kentucky, southwestern West Virginia, and western Virginia.
"The reserve estimate for this seam is in excess of 3,500,000 tons of coal in place," said William "Randy" Wheeler, CEO of Quest Minerals and Mining. "This coal has very high fluidity which makes it a perfect blending coal for metallurgical coal orders."
The Lower Cedar Grove seam should produce approximately 20,000 clean tons per month by the end of the second quarter of 2005. The current market price for washed Lower Cedar Grove coal is \$60 per ton FOB Delbarton West Virginia.
Quest is also continuing its core drilling program to refine coal reserve estimates on the Slater's Branch property. Current reserve estimates are more than 12,000,000 tons in place in six seams.
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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