Quest Minerals & Mining Inc. (OTCBB: QMNM) just announced that its Pond Creek coal mine, which was expected to reach full production mode of 1,500 – 2,500 raw tons per day within the next month, has done so today and now expects to mine between 1,000 – 1,300 raw tons per shift (two shifts will soon be working).
Since there has been so much speculation surrounding Quest’s ability to mine coal, today we’ll let you hear it straight from the horses mouth:
Everett Hampton, President of Whitestar Mining, LLC., commented, “We have turned the corner and have run the last three shifts with great success. Until yesterday, we had limited places to cut coal as we were only mining three (3) headings wide. Now that the engineers have finally calculated the proper directional coordinates, we are able to spread our working section out across the full seven (7) headings. Yesterday, we brought our operational status into full production and cut coal for a full eight hours. Having access to the full seven (7) headings allows us to meet our necessary tonnage requirements. The coal yard was so full yesterday, that we almost ran out of room to store it. Running coal is easy, compared to the rehab work we just completed. We are proud of where we are now and the amount of volume we can produce. Our production goals have since been raised up to 1,000 to 1,300 raw tons per shift. Any coal miner would tell you that this is a very good mine now.”
Eugene J. Chiaramonte, Jr., President of Quest Minerals and Mining Corp., stated, “It appears that Whitestar is more capable than ever. They have managed to break all previous single day production records in just their first day of full production! We are very excited for what the future has in store for this company.”
Simply put, this is a major step in the right direction for Quest. Now in full production mode, the company can begin fulfilling purchase orders and taking advantage of the red hot coal market. Management appears to be executing on outlined initiatives even fast than publicly stated. If that’s not a bullish sign of what’s to come than I don’t know what is. Who knows? Maybe we will see production numbers sooner than the end of the quarter.
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