Sunergy Update: ETA for 3 Dredge Arrival in Sierra Leone March 15, 2011; Draft Financials Are Under Review for Filing in the Next Few Weeks
Press Release Source: Sunergy Inc. On Wednesday March 9, 2011, 7:33 am EST
SCOTTSDALE, AZ--(Marketwire - 03/09/2011) - Sunergy, Inc (the
- News) today announces that it has received notification from the shipping company that the ETA for the container with the 3 dredges and operating equipment is now scheduled to arrive in Freetown, Sierra Leone by next Tuesday, March 15, 2011. Severe winter weather conditions, both on land and at sea, have delayed the delivery schedule over a month. This delivery now sets the stage for operations to commence on the Company's Pampana River Project once the shipment clears customs and is moved to the site. Company operations personnel have been on the ground for a few weeks preparing for this arrival. Operations will begin once the dredges are assembled and located in their preselected locations. Dredge builder and Company Advisory Board Member Alan Trees will supervise the assembly and start-up operations to ensure optimum performance.
The Company is also pleased to announce that draft Financials are being reviewed for filing in the next few weeks. These contain the 2009 10K and 2010 10Q's for quarters 1, 2 and 3. Once signed off by the Company's Auditors and filed and accepted with the SEC, the Company will have fully satisfied its reporting requirements and the Caveat Emptor status should be removed. The 10K for 2010 is also being prepared but is not due for filing until March 31, 2011. Virtually all the information contained in the2009 10K and 2010 10Q's will be reported in the 2010 10K as well. Once all filings are complete, the Company intends to re-apply to list on the OTCBB and is committed to maintain a fully reporting status to ensure a higher level of transparency.
The Company urges investors to visit www.sunergygold.com to study the Projects, Corporate Reports and any other due diligence they require before investing in the Company's stock. An informative Dredge video is also available on the site. Investors are also cautioned that message boards are not places that have any official corporate information and should not be relied upon as a source of due diligence, but rather are places where opinions, often colored with agendas are published.
P.K. Medhi, Chairman of the Board of Directors, says: "We have always preferred transparency and have always been a reporting Company. Last year our financials were delayed because of accumulated debt which has now been fully paid. In fact, we were able to retire all our outstanding debt last year and are poised now to put all our financial assets to work to advance our substantial mining projects to early cash flow. We look forward to publishing our financials and to return to a transparent format. We believe that our shareholders will be pleased with our 2011 performance."
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 100% of the 150 SQ. Km. Nyinahin mining concession with a full prospecting license in Ghana, West Africa and the 140.1 sq. km. Pampana River Rare Earth, Gold and Diamond concession in Sierra Leone, West Africa. We are focused on near term production of these properties this season. We are production and acquisition oriented and are considering several additional projects suitable for near term production in West Africa.
More Information will be forthcoming about the activities of your Company that are about to get underway and are already underway.
Notice 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.
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.