QMNM News Quest Minerals & Mining Sets Final Tune-Up for Pro...
Thursday, June 26, 2008 8:31 AM
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News for 'QMNM' - (Quest Minerals & Mining Sets Final Tune-Up for Production)
PATERSON, N.J., Jun 26, 2008 (PrimeNewswire via COMTEX) -- Quest Minerals &
Mining Corp. (OTCBB:QMNM) (Frankfurt:QMNB), a Kentucky based operator of energy
and mineral related properties, announced today that their contract mining
group, Whitestar Mining, LLC. will be making the final maintenance and equipment
repairs necessary to gear up for the upcoming coal mining stage. The company is
currently preparing to mine its Pond Creek location, held under its wholly owned
subsidiary, Gwenco, Inc.
Everett Hampton, President of Whitestar Mining, LLC., stated, "Upon review of
the mine maps, all rehabbed areas should be 100% complete pending no major
complications by early next week. We are at a point now where we need to repair
and touch up our equipment so that we can meet the expected production goals of
1,200 to 1,500 tons per day as determined when we first took on this project. We
have accomplished what other contract miners have avoided for the last 5 years.
It was not easy or inexpensive, but its ultimately nearing fruition. The rock
and metal left in the roof that needed to be cut down has been some of the
toughest work I have experienced in my 25 years as a coal miner. This is a great
coal mine, with many years of production."
Eugene J. Chiaramonte, Jr., President of Quest Minerals and Mining Corp.,
stated, "I am proud that we have persevered through the rehab phase, and have
taken the time to do it right. I have been receiving calls daily with offers to
procure our coal. The local coal buyers visit the mine weekly to see what we
have achieved. Everyone is excited and pleased. We are finally ready to move
forward and I believe 100% in Whitestar's ability to get the job done."
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.
This news release was distributed by PrimeNewswire, www.primenewswire.com
SOURCE: Quest Minerals & Mining
By Staff
CONTACT: Quest Minerals & Mining Corp. Eugene Chiaramonte, Jr. 973-684-0035
(C) Copyright 2008 PrimeNewswire, Inc. All rights reserved.
-0-
INDUSTRY KEYWORD: Mining & Metals
SUBJECT CODE: ENERGY
MINING
METALS
Company Announcement
Source: Comtex Wall Street News
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