Quest Minerals & Mining
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US QMNM
Frankfurt Germany QMNA.B

Quest Founded
  • Formed in 2003
  • Reverse merger into existing Tillman International Inc.
  • Strategic acquisition with
    Gwenco, Inc.
  • "Super Compliance" blend stronghold

Abundant infrastructure
  • Operating leverage from preexisting machinery
  • Infrastructure of workers
    and transport
  • Regional expertise
  • Intended diversification in
    oil and gas

Markets Targeted for large coal demand
  • Preparation Plants
  • Steel
  • China

Predictions positive for high demand
  • EIA (Energy Information Administration)
  • US Department of Energy
  • New coal-to-liquid technologies
  • International


Quest Investors
Industry Overview
As a major contributor to the world energy supply, coal represents approximately 23% of the world's primary energy consumption, according to the World Coal Institute. The primary use for coal is to fuel electric power generation. In calendar year 2002, it is estimated that coal generated 51% of the electricity produced in the United States, according to the Energy Information Administration, a statistical agency of the U. S. Department of Energy.

The United States is the second largest coal producer in the world, and is the largest holder of coal reserves in the world. U.S. coal reserves are more plentiful than oil or natural gas, with coal representing approximately 70% of the nation's fossil fuel reserves, according to Energy Ventures Analysis.

U.S. coal production has more than doubled during the last 30 years. One of the primary producing regions is Central Appalachia (23%). All of Quest's coal production comes from the Central Appalachian region.

Coal is used in the United States by utilities to generate electricity, by steel companies to make products with blast furnaces, and by a variety of industrial users.
  • To heat and power foundries
  • Significant quantities of coal are also exported from both east and west coast terminals.
  • Cement plants
  • Paper mills
  • Other manufacturing and processing facilities.





There are factors other than fuels cost that influence each utility's choice of electricity generation mode, including facility construction cost, access to fuel transportation infrastructure, environmental restrictions, and other factors. The breakdown of U.S. electricity generation by fuel source in 2002, as estimated by the Energy Information Administration, is as follows:
Percent of total electricity generation
RDI projects that generators of electricity will increase their demand for coal as demand for electricity increases. Since coal-fired generation is used in most cases to meet base load requirements, coal consumption has generally grown at the pace of electricity demand growth. Demand for electricity has historically grown in proportion to U.S. economic growth.

Market Opportunity
In the recent past, coal price declines lead to widespread mine shutdowns. Current upward pricing trends have no specific driver outside of general price increases in all energy sources, which appear to be driven by geo-political concerns and the current non-renewable characteristics of fossil fuels. Equivalent current natural gas prices imply that coal should currently be trading at U.S. $70 to U.S. $80 per ton. As coal prices strengthen, Quest believes that it could become highly lucrative to re-open the best of these recently closed mines. U.S. coal reserves are more plentiful than oil or natural gas, with coal representing approximately 70% of the nation's fossil fuel reserves, according to Energy Ventures Analysis.


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