Sunergy Management Returns From Successful Visit to West Africa & Commences Operations in Dredging for Gold, Diamonds & Black...
December 27 2013 - 7:45AM
Marketwired
Sunergy Management Returns From Successful Visit to West Africa and
Commences Operations in Dredging for Gold, Diamonds and Black Sands
to Produce Cash Flow in 2014
SCOTTSDALE, AZ--(Marketwired - Dec 27, 2013) - Sunergy, Inc.
(the "Company") (OTCQB: SNEY) is pleased to announce that
Management has returned from West Africa completing arrangements to
commence its dredging operations in Liberia and Sierra Leone under
the supervision of Dredgemaster David Price. Mr. Price remains in
Sierra Leone and is engaged in moving two dredges into operations
locations there, with the first dredge already operating in a test
location. During his visit in Sierra Leone, Dredgemaster visited
two sites in Kono district that previously hosted substantial
diamond production. These sites were shut down during the conflict
and have not been operated since due to the Paramount Chief's
interest in preserving the riches for his chiefdom. We enjoyed a
meeting with the Chief and several associates of his that we also
knew. This resulted in our being granted exclusive rights to work
these areas in partnership with the Chiefdom. This area is reported
as one of the richest areas for diamonds and gold in Sierra Leone.
This Chiefdom is also the largest in Sierra Leone and we expect to
enjoy other development opportunities there.
Mr. Price will return to Liberia after the holidays to deploy
our initial dredge into operations. While visiting Liberia in early
December, he visited three potential operating sites, two with good
operating history and one speculative site. After consultation with
management, it was determined that the Bomi Hills site was the most
suitable one to begin operations. The other two sites, Lofa River
Bridge and Saint Paul River remain as potential work sites,
depending on equipment availability and other criteria pending test
results. This recent trip covered beneficial visits to Liberia,
Ghana, Sierra Leone, Dubai and The Gambia.
Ghana does not allow dredging in its rivers for gold and
diamonds and alluvial operations are allowed 200 meters from the
rivers with excavators, trucks and wash plants for recovery which
requires substantial capital. Accordingly, we are seeking a
development partnership with owner/operators of the above equipment
for near term profitable operations. We are also considering
additional mining concession acquisitions in Ghana at this time.
Our recent trip involved 2 visits to Ghana and has advanced
progress substantially. Management will continue to follow up after
the holidays.
We are also working on a large project in The Gambia through our
ATA Systems partnership that has potential for a long term income
stream for our Company. More to follow.
Sunergy President and CEO Garrett Hale says: "After having
visited Liberia for the first time, I am really excited with the
opportunities that have been presented to us. There is no question
that we will be able to get at least a half dozen dredges working
this operating season. We now have established new wholly owned
subsidiaries in both Sierra Leone and Liberia, named Sunergy Sierra
Leone, Limited and Sunergy Liberia, Limited to be the vehicles
through which we conduct our new diamond and gold cash flow
operations. I am so proud of our new Management personnel who will
return after the holidays to get everything running smoothly. This
trip has exceeded all our expectations. Honestly, I can't wait to
get back to our West African people and operations. All of us at
Sunergy wish our shareholders a happy and prosperous new year, and
we will do everything we can to make that happen."
Dredgemaster David Price comments: "I am extremely pleased to be
working with Sunergy now and want to take this opportunity to say
that Management is truly focused on what's best for the Company and
its shareholders in my opinion. The opportunities they have shown
me are truly exciting and they have worked well and hard to bring
them to the shareholders. The new focus on cash flow makes a lot of
sense and they have brought us to that point. I will be certain to
make that a strong reality. I am also searching for additional
equipment in both countries for rent or lease purchase to
accelerate our development plan. If things go smoothly, we should
have 3 dredges operating in each country by mid February. I want
you to understand something, I get paid mostly on performance
bonuses, so I want to make this as big as we can, for all our
benefit."
Clarification on anticipated 2013 cash flow: We had anticipated
being able to report cash flow for 2013, but the required paperwork
to be able to export gold and diamonds takes some time and money.
To rush to sell locally, just to report sales is not economically
sound. We plan to use upstream diamond prices and refinery prices
for gold and will have positive results to report as subsequent
events in our 10K and in Q'1 filing.
CASH FLOW AND PROFITABILITY
Company Management has dramatically changed its operating plan
from an exploration model to a cash flow driven operation. We have
entered into sponsorship agreements in both Sierra Leone and nearby
Liberia to combine our equipment and operating expertise with local
artisanal miners to assist in the rapid development of otherwise
hand driven operations only. Two benefits occur immediately, one
for the local miners who gain support on the recovery of their
discovered gold, diamonds and black sands and one for our Company,
having the exploration phase already completed and gaining the
opportunity to immediately begin operations in already proven lands
and rivers which are capable of producing economic quantities of
Gold, Diamonds and Black sands containing the rare earth elements.
Management believes this enables the company to enter into
immediate and sustainable cash flow which is acretive to
shareholder prosperity.
SUNERGY, Inc., a Nevada corporation (OTCQB: SNEY) is a publicly
listed and traded, production oriented, junior mining company
headquartered in Scottsdale, Arizona, USA that is production
oriented at the earliest possible profitable opportunity and has an
appetite to grow by profitable acquisition. It is engaged in the
evaluation, acquisition, exploration, planned operation and
advancement to production of largely alluvial gold/rare earth
elements and diamond recovery projects in Ghana, Sierra Leone and
Liberia West Africa. This year marks the beginning of our Cash Flow
Operations as the Operating season is just about to get
underway.
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 on mining concessions or cash flow from any 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