Sunergy Market Activity Not a Reflection of Any Change in Corporate Operations or Fundamentals as Company Readies for Its Fir...
May 06 2014 - 8:23AM
Marketwired
Sunergy Market Activity Not a Reflection of Any Change in Corporate
Operations or Fundamentals as Company Readies for Its First Export
Parcels of Gold and Diamonds From Liberia and Sierra Leone
SCOTTSDALE, AZ--(Marketwired - May 6, 2014) - Sunergy, Inc. (the
"Company") (OTCQB: SNEY) takes this opportunity to advise
shareholders that recent market activity is not a reflection of any
change in corporate operations or fundamentals. There is no event
that has been leaked or anything whatsoever that is negative that
has occurred to cause the kind of aggressive selloff that our
market has suffered the last few days.
Having said this, we are pleased to announce that Management
representatives are again travelling this day to London, Liberia
and Sierra Leone to further our growing operations. London is a
follow up to the recent West African Mining Summit recently
attended in London. Discussions are being held regarding expanding
mining operations, Energy and affordable housing projects with
contacts met at the Summit.
Our TROM 416 wash plant and associated equipment and CAT 420D
backhoe/loader with attachments will start to move by this week's
end from Liberia to Kono District, Sierra Leone to be deployed
washing regional gravels for local miners on a base fee basis or
percentage of product, whichever is greater. This equipment should
be operational within two weeks and is designed to run 24/7. This
equipment is near new and will establish a guaranteed cash flow
operation to assure its monthly lease purchase payments resulting
in ownership and positive cash flow.
As was discussed in last week's Press release, "Once a
substantial parcel of diamonds or gold is assembled for export, it
has to be presented to the appropriate government agency, with
documents of origin signed by local field officer and then it is
certified as to origin and valued for payment of duties and export
fees. Once these fees are paid, the parcels may be exported to
wherever the owner wishes without further involvement of the local
government." We expect to begin this export process within the
next 30 days and the final results could take 60 to 90 days to
size, sort cut and polish and distribute for sale.
As we stated in the April 25th Press Release, "Sunergy is now
recovering both diamonds and gold on our Liberian dredge
operations. Our Sierra Leone dredge operations have been redeployed
to areas where they have immediate access to both gold and
diamonds. Our Sierra Leone Wash Plant operation will also give
us access to a large area from which we expect numerous diamonds.
All valuable products are stored in safe deposit boxes at Rokel
Bank in Freetown, Sierra Leone and Global Bank in Monrovia,
Liberia
Management has determined to offer our diamonds for sale on a
first refusal basis, once cut polished and certified, to
shareholders who own more than 10,000,000 common shares of our
company or to shareholders of record that have directly invested in
Sunergy common stock through private placements in amounts greater
than $10,000. Any cut, polished and certified diamonds greater than
15 carats, unless specifically requested, will be sold to open
market buyers. Diamonds over 50 carats will only be sold to
selected market buyers.
Garrett Hale, President and CEO says:" I have observed the
aggressive selling this last few days and it has caused me to
review everything we are doing to look for an answer to what has
been going on. I can't find a thing. So we are going full steam
ahead with our operations in both countries and our non-mining
activities as well. We expect our loyal shareholders to be very
pleased with our progress and revenues over the next few months and
especially at year end this year. We are committed to continue to
expand our operations."
Prince Kai Saquee, Sunergy Advisory Board Member and Chairman of
the Diamond and Gold Dealers Association in Kono District in Sierra
Leone said:"I am very pleased that Sunergy has made this
substantial commitment to our area. Their approach is to allow any
producer to have access to this processing facility. We have strong
local support for this facility and I am proud to be associated
with the Sunergy team."
Dredgemaster Price says, please read this carefully. I said this
last week and nobody seemed to get it...: "Our dredges are working
beautifully and we are now moving our Sierra Leone dredges into
guaranteed diamond and gold producing areas like we have done in
Liberia. Our land based operations in Kono will expand to include licensed operations covering the large
diamond discovery areas in Kono District and definitive
agreements and licenses will be finalized in a couple of weeks.
This placement should make certain that we will recover some large
diamonds this year"
Please visit our website: www.sunergygold.com and review
our Company's activities.
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. As its core business,
the Company has made a transition from an exploration only company
to a company now focused on production and cash flow. We now have
four dredges operating, 2 in Sierra Leone and 2 in Liberia. An 8th
dredge sits between the two countries awaiting the most favorable
deployment opportunity for fast cash flow. In addition to our core
mining activities, the Company has used its considerable contacts
earned over the past 4 years to develop non-mining partnerships and
agency agreements with major international businesses representing
Airport Security and Affordable Housing projects and Solar energy
projects up to 250 megawatts, in the five West Africa Countries of
Ghana, Sierra Leone, Liberia, The Gambia and Senegal.
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: Garrett Hale President CEO Sunergy, Inc. 707.255.5836
garrettsvp@gmail.com 14362 Frank Lloyd Wright Blvd. Suite 1000
Scottsdale, AZ 85260 480.477.5810 Steve
Parent Sunergy, Inc. Investor Relations 480.326.5435
steve@sunergygold.com