Quest Reopens Slater Branch Pond Creek Seam.
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Oct 25, 2005BELFRY, Ky. -- Reissuing release to correct ticker symbol for searching purposes.
Quest Minerals and Mining Corp (OCTBB:QMMG) is reopening its Pond Creek mine at Slater's Branch, KY. With Shelbi Coal Company as its contractor.
CEO William Wheeler states, "Because of a ruling in Boyd County Circuit Court we have been allowed to reopen and commence mining with Shelbi Coal. Prior to full production we have some lease renegotiation to be completed. Shelbi's target is 40,000 tons per month when full production is reached. They have also agreed to reopen the Lower Cedar Grove Seam at the same level of production of 40,000 tons per month."
Quest is also currently investigating a lease on a preparation plant within 12 miles of the mine which would increase the margins for both parties. The Pond Creek seam when mined cleaned or washed is a premium product of over 12,500 BTU's and less than .6% sulfur.
William Spears, CEO of JJ Resources and the joint venture partner with Quest in a 6,000,000 ton project in Knott County is in charge of the reopening project.
About Quest Minerals and Mining
Quest acquires and operates energy and mineral-related properties in the southeastern part of the United States. Quest focuses on properties that produce high quality compliance coal. Quest's owned, operated, and joint ventured coal holdings are in excess of 13 million tons of engineered coal and Quest expects those reserves to increase with the commencement of Quest's recently announced joint venture with JJ Resources. Quest's steam coal is currently sold on the spot market to certain brokers who in turn sell to utilities and industrial clients as fuel for power plants. For more information on Quest Minerals and Mining Corporation, please visit its website at www.questminerals.com.
Forward-Looking Statements
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.
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