Quest Minerals & Mining Announces Results of Analysis of Channel Samples From Pond Creek Mine and Lower Cedar Grove Seams
Posted on: Thursday, 5 April 2007, 06:00 CDT
Quest Minerals & Mining Corp. (OTCBB: QMMG; Frankfurt: QMN.F), a Kentucky based operator of energy and mineral related properties, today announced the results of an analysis of channel samples of coal from its Pond Creek and Lower Cedar Grove mines, both of which are located at Slater's Branch, Kentucky.
An analysis of the sample taken from the Pond Creek mine established that the coal sample was were well above compliance coal specifications. Run by Standard Laboratories, Inc. located in Whitesburg, Kentucky, the three samples from the Pond Creek mine face averaged over 13,000 BTUs as received, with inherent ash of about 6% and sulfur of about 0.5%.
Rodney A. Robinson, President of General Mining, Quest's mine operator, stated, "This is some of the better coal I will have mined in my thirty years of contracting. The low inherent ash and low sulfur puts this in what is called 'super compliance blend coal' category, which permits users to blend 'up' lower quality coal. Also, the analysis establishes that this coal has a S02/MMBTU below 0.8%, which means that this coal can be used in facilities that have EPA air quality compliance issues."
Tests on the Lower Cedar Grove, which Quest seeks to reopen once it has reopened the Pond Creek mine, ran 13,476 BTUs. Eugene Chiaramonte, Jr., President of Quest, said, "This seam is known as a metallurgical 'hamburger helper.' While the coke button is somewhat low, we believe that the high BTU and very good fluidity should permit shippers to blend this into high price orders to the international met market."
Quest also announced that General Mining continues to remain on schedule for the rehabilitation and reopening of the Pond Creek mine. Quest and General Mining continue to believe that the rehabilitation can be completed by the end of April, 2007.
If Quest is successful in reopening the Pond Creek mine, it intends to attempt to reopen its Lower Cedar Grove mine, also located at Slater's Branch. In anticipation of this reopening, General Mining has begun moving mining equipment onto Slater's Branch which would be used to mine at Lower Cedar Grove. Mr. Robinson stated, "The seam at Lower Cedar Grove is over 48 inches high, which lends itself to high volume extraction." In order to recommence mining operations at Lower Cedar Grove, Quest and General Mining will need to rehabilitate the mine and obtain all required insurance, permits, and approval to recommence mining operations at Lower Cedar Grove.
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.
Source: Business Wire
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