The Kentucky-based company’s Gwenco subsidiary produced and shipped 11,000 gross tons over the month, selling 4350t clean for a total revenue of $US292,000 based on a $67/t sales price.
"[The results are] largely due to the increased seam thickness that we have recently encountered. However, a 10 per cent improvement in production was also a key factor,” Quest president Eugene Chiaramonte Jr said.
"If we are able to continue operating as we have been, without any significant delays or mining stoppages, we anticipate that our production rates will continue to augment as we move towards these final months of the year.”
Chiaramonte reiterated the company’s goal of 20,000 gross tons monthly from its Pond Creek complex with a recovery rate of 50% or higher.
“We believe that we are getting closer with each passing month.”
He said the company continued to feel that domestic and international coal demand was “rebounding” and gaining strength, and “positive signs” were being seen from US and Asian steelmakers.
The producer said late last month that the coal seams under its Gwenco division, which span six individual directional headings, rose in seam height from a 40-44in to a 42-55in range.
"The coal seams are more than 10 inches higher than they were two weeks ago,” Chiaramonte noted.
“These optimal conditions provide a positive outlook towards concluding the year with some excellent production results."
