Sunergy Pursues Cash Flow Operations in Sierra Leone & Liberia While Awaiting Pampana Exploration License Concession Renewal ...
October 17 2013 - 8:30AM
Marketwired
Sunergy Pursues Cash Flow Operations in Sierra Leone and Liberia
While Awaiting Pampana Exploration License Concession Renewal in
Sierra Leone
SCOTTSDALE, AZ--(Marketwired - Oct 17, 2013) - Sunergy, Inc.
(the "Company") (OTCQB: SNEY) While awaiting approval of our 4 year
renewal application for our Pampana River Exploration license in
Sierra Leone, Management continues to pursue immediate cash flow
opportunities through working with existing mining licenses in both
Sierra Leone and nearby Liberia. A recent visit by Management to
Sierra Leone and Liberia has produced no further news on the status
of our renewal in Sierra Leone and has led to a new partnership for
mineral development in nearby Liberia.
By way of explanation of various mining licenses in Sierra
Leone, all Exploration Licenses require exploration activities only
and do not allow for sale of products as a result of such
exploration. Production cannot be conducted on an exploration
license, without an additional small scale mining license or
through permitted Artisanal operations. Accordingly, as Management
has previously stated, 2013 is focused primarily on developing cash
flow from operations, which are conducted on existing licenses
where production and sale of materials recovered can be
accommodated. We will conduct further exploration activities on our
Pampana concession once renewed and pursue the necessary license(s)
with which to be able to market the recovered products to be
processed by our proposed pilot plant.
Current Mining Activities for Cash Flow:
Sierra Leone Cash Flow: We have a cash flow operation scheduled
to commence once rains cease in December in Sierra Leone for gold,
diamonds and black sands. (See Press Release dated September 19,
2013 for details) This area is known for substantial diamonds with
the gold and we have tested the black sands and will recover these
as well. We are also evaluating the immediate cash flow associated
with sand mining in Sierra Leone as well as additional cash flow
opportunities. We are negotiating asset backed financing to produce
sand mining dredges as well as additional gold, diamond and black
sands dredges. All dredges will be manufactures near Bo, in
Sierra Leone.
Liberia Cash Flow: Monrovia, Liberia is less than 200 miles by
road from Bo, Sierra Leone. Management was invited to go to
Liberia and evaluate a dredging project on known diamond and gold
bearing gravels in the St. Paul River about 7 miles north of Bong,
where a $2.6 Billion Iron Mine is being put into production. We
have also observed the presence of black sands and are testing same
at this time. Our Sierra Leone geologist will visit this site
and a potential larger mining site during the first week of
November. The rains in Liberia usually cease about one month
earlier than Sierra Leone, so we are prepared to commission a
dredge and crew to begin exploration and production on existing
Class C mining licenses in Liberia. We will act in a sponsorship
capacity with our equipment and crew and share equally in the net
profits of this operation. All recovered products may be sold,
including clean sand as a byproduct of our gold, diamond and black
sands operations. There is a major market for river sand in
Liberia.
The Gambia Cash Flow: The Gambia is an exporter of sand and sand
mining in the rivers is allowed in The Gambia. We are evaluating
setting up a sand mining operation there. We are also currently
discussing the affordable manufactured homes with government
agencies in The Gambia, including the building of hospital and
medical clinic structures and schools throughout the country as
well as small affordable homes for civil servants. Should
these discussions and proposals result in substantial orders, a
manufactured home facility could be built in The Gambia in an
enterprise zone which enjoys a 10 year tax holiday. Homes
could be shipped throughout Africa which would support reciprocal
trade activities for the country.
Garrett Hale, Sunergy President and CEO says: "We will establish
profitable cash flow operations in every country we work, as our
first objective. In Sierra Leone, in addition to gold,
diamonds and black sands, we may pursue sand mining for immediate
and continuous cash flow. We will pursue Liberian mining activities
whenever cash flow can be achieved. There are vast areas in
Liberia that have known mineral reserves and deposits to which we
now also have access. In Gambia, in addition to sand mining there
are tremendous other mineral occurrences that have yet to be
developed. Being in the building contracting business myself, the
affordable housing project excites me. To be able to build quality
affordable housing is relevant in all the countries which we wish
to do business. The housing project endears us to the governments
who wish to provide affordable housing to their employees and
citizens, like The Gambia. Then they see where else our products
can fit, like hospitals, medical clinics and schools. It has always
been a part of the Sunergy dream to provide humanitarian solutions
wherever we work, and to do so while making money is even more
exciting."
We are also pleased to announce the appointment of Noellen
Barber as Deputy Country director in Sierra Leone. Ms. Barber will
work directly with Terri Laconte, our Country Director. Ms.
Barber will also support our activities in Liberia and Gambia where
she has cultivated strategic alliances with persons who can
immediately join our team and be of substantial assistance. Ms.
Barber is a native of Sierra Leone, but has lived most of her life
in the United States of America. Ms. Barber has founded and
run numerous companies in West Africa. She received her Bachelor of
Arts Degree in Political Science at Bowie State University and a
Masters of Business Administration in Sustainable Business and
Renewable Energy from Marylhurst University in Portland
Oregon. Her business activities are centered on Agriculture
and Real Estate Development. During her stay in Sierra Leone, Ms.
Barber has learned the mining laws and has many contacts in the
mining and government sectors.
Please visit the Sunergy website www.sunergygold.com and review
further information such as Company Reports under Projects,
Previous Press Releases and SEC filing information under Investor
Info. Our Facebook and Twitter sites are quite active, so please
visit our website to access those links.
About Sunergy: The Company is an aggressive junior mining
exploration and development Company that is production oriented at
the earliest possible profitable opportunity. We control the
Nyinahin mining concession with a full prospecting license in
Ghana, West Africa and are in the renewal process for our Pampana
River Rare Earth, Gold and Diamond concession in Sierra Leone, West
Africa. We are advancing operations there to the installation of a
commercial pilot plant to separate the gold and selected other
valuable minerals for sale. We have recently formed a
partnership with landowners in Liberia to develop a significant
gold, diamond and black sands project. We have formed a partnership
in affordable housing and building projects suitable for
development in Africa. We are always open to Joint Venture
participation on all our projects. We are production and
acquisitions oriented and are considering several additional
projects suitable for near term production.
Regarding Forward-Looking Statements
This current report contains "forward-looking statements," as
that term is defined in Section 27A of the United States Securities
Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
Statements in this press release which are not purely historical
are forward-looking statements and include any statements regarding
beliefs, plans, expectations or intentions regarding the future,
including but not limited to, any mineralization, development or
exploration of the Nyinahin and Pampana Mining Concessions or
cash flow from Liberian mining operations.
Actual results could differ from those projected in any
forward-looking statements due to numerous factors. Such factors
include, among others, the inherent uncertainties associated with
mineral exploration and difficulties associated with obtaining
financing on acceptable terms. We are not in control of metals
prices and these could vary to make development uneconomic. These
forward-looking statements are made as of the date of this news
release, and we assume no obligation to update the forward-looking
statements, or to update the reasons why actual results could
differ from those projected in the forward-looking statements.
Although we believe that the beliefs, plans, expectations and
intentions contained in this press release are reasonable, there
can be no assurance that such beliefs, plans, expectations or
intentions will prove to be accurate. Investors should consult all
of the information set forth herein and should also refer to the
risk factors disclosure outlined in our most recent annual report
for our last fiscal year, our quarterly reports, and other periodic
reports filed from time-to-time with the Securities and Exchange
Commission.
Contact: President: Garrett Hale 707.255.5836
garrettsvp@gmail.com Investor Relations Steve Parent 480.326.5435
steve@sunergygold.com Sunergy, Inc 14362 N. Frank Lloyd Wright Blvd
Suite 1000 Scottsdale, AZ 85260 Tel: 480.477.5810