PATERSON, N.J., March 17, 2008 (PRIME NEWSWIRE) -- Quest Minerals & Mining
Corp. (OTC BB:QMNM.OB -
News) (Frankfurt:QMNB.F
- News), a Kentucky-based
operator of energy and mineral related properties, today announced that it sees
a higher-than-anticipated revenue potential for the fiscal year 2008 due to
record reaching coal prices. Coal closed at $79.83 on Friday March 14, after
hitting a record high of $84 a ton during the week.
Eugene Chiaramonte, Jr., President of Quest, stated, ``We are being
offered higher coal prices because of the low sulfur content in our Pond
Creek Mine. We expect prices will rise even higher because of the large
demand from China and India. The Company should be strategically poised to
take advantage of these rising coal prices. Production may begin by early
April, if not sooner, barring any unforeseen circumstances.''
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
http://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.
Contact: Quest Minerals & Mining Corp.
Eugene Chiaramonte, Jr.
973-684-0035
Source:
Quest Minerals and Mining
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