Quest's Pond Creek Mine Ready for High Vol Production
Quest Minerals & Mining Corp. (OTCBB: QMNM) announced today that it has taken all of the steps necessary to sustain consistent high volume coal production at its Pond Creek, KY mine. Management also noted plans to issue impressive tonnage reports within the next few weeks.According to the release, over the past ten (10) days, Quest has made the following improvements:
-- Replacing 1,200 feet of used conveyor belt that was more than ten years old;
-- Adding four feet to the belt feeder along with its own motor so that it will run independent of the belt line;
-- Installing new hydraulic jacks to the roof bolter; and
-- Refurbishing the under carriage on their joy 14-10a miner to give it better output efficiency.
With management stating today that the mine is finally prepared for high tonnage production, investors will be waiting impatiently for the initial tonnage report. Until, the numbers are presented, the stock remains a highly speculative venture. However, the upcoming promised production report will provide a tangible means by which investors can begin putting a more accurate valuation.
We’ll be watching closely for the report and will be sure to give you our take on it once it hits the presses.
Labels: Coal, OTCBB: QMNM, Quest