QMIN owns Gwenco subsidiary according to company filings as long as they continue to service their debt load...LJ
2010 name change info from 10Q filing...
On June 10, 2010, the Company filed an amendment to its Articles of Incorporation to change its corporate name from Quest Minerals & Mining Corp. to Kentucky Energy, Inc. The change in corporate name took effect on June 16, 2010.
From the last 10K filing from Qwest Minerals and Mining for 2009...
Business Development of Quest
Quest Minerals (Nevada), was organized on November 19, 2003 to acquire and operate privately held coal mining companies in the southeast United States.
Reverse Merger. Quest was incorporated on November 21, 1985 in the State of Utah under the name “Sabre, Inc.” It subsequently changed its name to Tillman International, Inc., or Tillman. On February 9, 2004, Quest Minerals (Nevada) completed a “reverse merger” with Tillman. On April 8, 2004, Tillman changed its name to “Quest Minerals & Mining Corp.”
Gwenco Acquisition. Effective April 28, 2004, Quest Minerals (Nevada) acquired 100% of the outstanding capital stock of Gwenco in exchange for 1,386,275 shares of Series B preferred stock of Quest Minerals (Nevada) and the assumption of up to $1,700,000 in debt. Each share of Series B preferred stock carries a liquidation preference of $2.50 per share and is convertible into shares of Quest’s common stock.
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Gwenco mine info...
Gwenco Mines
Gwenco holds approximately 30 coal leases, covering an estimated 700 acres, with a projected 12,999,000 tons of coal in place in six seams with possible additional reserves on adjacent leases. The primary reserves are in the Pond Creek, Lower Cedar Grove, and Taylor seams. Both the Pond Creek and Lower Cedars Grove seams are permitted and bonded and have been mined to a limited extent. The coal in the Pond Creek seam is low-sulfur, compliance coal, running at an average of 12,000 to 12,500 BTUs when mined clean. The coal in the Lower Cedar Grove seam has a shale parting and must be washed to be commercial. When cleaned it is a high BTU coal with certain metallurgical coal qualities.
Business format...
Item 1. DESCRIPTION OF BUSINESS
General
Quest Minerals & Mining Corp. 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.
Quest is a holding company for Quest Minerals & Mining, Ltd., a Nevada corporation, or Quest (Nevada), which in turn is a holding company for Quest Energy, Ltd., a Kentucky corporation, or Quest Energy, and of Gwenco, Inc., a Kentucky corporation, or Gwenco.
Gwenco leases over 700 acres of coal mines, with approximately 12,999,000 tons of coal in place in six seams. In 2004, Gwenco had reopened Gwenco’s two former drift mines at Pond Creek and Lower Cedar Grove, and had begun production at the Pond Creek seam. This seam of high quality compliance coal is located at Slater’s Branch, South Williamson, Kentucky.
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