PATERSON, N.J., March 17, 2008 (PRIME NEWSWIRE) -- Quest Minerals & Mining Corp. (OTCBB:QMNM) (Frankfurt:QMNB), 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 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.