The QUEST Has Just Begun
The world need energy and despite its reputation as not being the greenest fuel, coal remains an essential energy source across the globe. In fact, German utility company RWE recently forecasted that world energy trade could grow 25% by 2010 if surging Asian demand continues. With world demand ramping up and oil prices skyrocketing, the need for capable domestic suppliers has never be so large.Invest In Your Energy Wisely
Now, we are always on the lookout for an alternative energy company with the makings of an industry changer but the fact is, coal still dominates the energy industry and will continue to for a good many years. Any investor worth his salt cannot ignore the fact that oil companies are some of the bigger moneymakers in a trader's portfolio. So while we continue to put our faith in the fact that alternative energy is on its way up, we definitely want to trade the major players on the way.
Disclaimer aside, one speculative domestic coal play that we've stumbled upon recently is Quest Minerals & Mining Corp. (OTCBB: QMMC). Based in Kentucky, QMMC owns and pursues coal-related properties in the Southeast region of the country. The company has just recently initiated mining operations. Hence the .0028 share price.
Hot Off
The PressesOperating on proven coal reserves, QMMC issued an operational update today, showing investors just how much progress is being made on behalf of the company. Since these guys are an early- stage venture, there's not a whole heck of a lot of information on them out there. For this reason, we'll give you a brief recap on their recent progress:
According to today's press release, QMMC has recently:
- Secured a significant price increase for the sale of coal to a key customer. The price remains undisclosed for competitive reasons;
- Negotiated lower trucking costs through increased production volume;
- Completed the first major conveyor belt at its Pond Creek Mine that will improve shipping efficiency; and
- Made progress in regards to re-opening another two new mines.
Commenting on the company's progress Eugene Chiaramonte, Jr., President of Quest, stated, "We are pleased to report that we have improved our pricing while reducing our trucking costs in this initial start-up phase of our mining operations. We are also pleased that, due to a reduction in work stoppages resulting from required equipment maintenance; we are mining more regularly, resulting in deeper penetration into the mine. As we continue to transition into full operations, we anticipate that our operating efficiency will improve."
According to today's press release, QMMC has recently:
- Secured a significant price increase for the sale of coal to a key customer. The price remains undisclosed for competitive reasons;
- Negotiated lower trucking costs through increased production volume;
- Completed the first major conveyor belt at its Pond Creek Mine that will improve shipping efficiency; and
- Made progress in regards to re-opening another two new mines.
Commenting on the company's progress Eugene Chiaramonte, Jr., President of Quest, stated, "We are pleased to report that we have improved our pricing while reducing our trucking costs in this initial start-up phase of our mining operations. We are also pleased that, due to a reduction in work stoppages resulting from required equipment maintenance; we are mining more regularly, resulting in deeper penetration into the mine. As we continue to transition into full operations, we anticipate that our operating efficiency will improve."
With oil hitting new highs - seemingly by the day - and the majority of alternative energy sources not yet ready for widespread use, coal is increasingly relied upon and will continue to be, at least over the near term, to fuel our lives. So, while we are all cheering on the companies that will change the way the world uses its resources, don't forget that traditional energy is still one of the most lucrative industries in the world and definitely an industry worth investing in.Labels: Coal, QMMC, Quest Minerals and Mining Corp
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9:01 AM
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