Quest acquires and operates energy and mineral-related properties in eastern Kentucky, southwestern West Virginia, and western Virginia. D&D's primary business is a mining contract to operate the Bear Fork coal mine in eastern Kentucky on behalf of Landmark Mining Inc. D&D's former president, Daniel Stallings, will join Quest's management team and continue to oversee the company's Bear Fork operations.
"Quest continues to acquire high-quality coal operations - and add proven executives like Danny Stallings," said William "Randy" Wheeler, CEO of Quest Minerals and Mining. "We plan to invest in and improve the infrastructure at Bear Fork to raise its production significantly by the end of this summer."
Located on the Amburgey seam near Pikeville, Kentucky, the Bear Fork mine contains approximately 10 million tons of proven, mid-sulfur high-grade steam coal reserves. This coal requires washing at a preparation plant before it can be sold to public utility companies in eastern Kentucky and southern Ohio to produce electricity. Under the current contract with Landmark, Quest will receive payment per clean ton of coal mined at Bear Fork, with additional pricing bonuses for higher monthly volumes. Quest targets increasing production at the Bear Fork mine up to 35,500 to 40,000 clean tons per month by the end of the third quarter of 2004.
Further information about Quest Minerals and Mining can be found on the Web at: www.questminerals.com
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