Sunergy Starts Land-Based Diamond and Gold Recovery Operation in Kono District Near Where the Recent Large Diamonds, 125ct (Dec'13) and 150ct (Feb'14) Were Recovered in Sierra Leone; Dredge Operations Continue in Sierra Leone and Dredges Have Arrived in Liberia and Will Commence Operations by Mid-March
Press Release Source: Sunergy Inc. On Monday March 10, 2014
SCOTTSDALE, AZ--(Marketwire - 03/10/2014) - Sunergy, Inc (the
- News) is pleased to announce that the Board of Directors has approved a land-based diamond and gold recovery operation in Kono District Sierra Leone. Prince Kai Saquee, Chairman of the Diamond and Gold Dealers Association in Kono and Sunergy Advisory Board member, has been instrumental in securing this prime location for our operations. The operation will involve 4 separate but contiguous licenses initially and will grow as necessary. Sunergy owns a suitable wash plant to service the operations and will rent, lease or purchase other equipment as required to grow operations.
Prince Saquee said: "I am excited to help Sunergy develop a large diamond and gold operation in Kono district. I have located some virgin ground that will certainly contain both diamonds and gold. I am especially interested in finding some more 100+ct diamonds in this area. The kimberlites here appear to contain some larger diamonds and we will go deep enough to recover all that is available. This association with Sunergy will be very good for the Company and for my people."
The following is paraphrased from this article which can be read in its entirety at: http://news.yahoo.com/sierra-leone-unearths-6-million-diamond-183933013.html
Sierra Leone said on February 19, 2014 it had discovered a diamond worth $6.2 million, declaring it one of the most precious finds of the past decade. The stone, found last week in the eastern district of Kono, was measured at 153 carats, making it significantly bigger than the largest find of 2013, a 125-carat diamond unearthed in the same area, the National Minerals Agency said. "This 153.44-carat diamond is one of the finest diamonds to be found in Sierra Leone in the last 10 years". This is a premium stone as a result of its colour and clarity, and had it been an octahedron-shaped stone, it could have almost doubled the price of $6 million. In Sierra Leone, Small-scale artisanal mining has sustained the country's eastern region since diamonds were discovered in 1930, and it was here that the 968.9-carat Star of Sierra Leone -- the largest alluvial diamond ever found -- was mined in 1972.
Sunergy President and CEO Garrett Hale says: "We are very fortunate to have Prince Saquee on the Sunergy team. Our new focus on developing cash flow from diamonds and gold operations is focused on a virgin area in Kono district and Prince's advice and guidance will insure our success. In addition, we now have 2, 6 inch dredges ready for operations in Bomi Hills area, Liberia, due to a recent infusion of capital and 2, 8 inch dredges operating in Sierra Leone under short term contracts which can be moved with crews to any operation we choose."
Hale further states: "After careful consideration and discussions with Sunergy Advisors, I have elected to convert $150,000 of debt owed to me by the Company, predominantly from funds that I have directly invested for administrative and operations costs, for Units priced at $0.0025, comprised of one restricted common share and one share purchase warrant @ $0.0035 exercisable for one year. Given what I know and the confidence I have in our teams in Sierra Leone, Liberia and The Gambia, I believe this is a prudent investment for me at this time. I look forward to my 60,000,000 warrants being in the money so when I am able to exercise, it will put an additional $210,000 into the Company."
Dredgemaster David Price in a recent email response to a shareholder inquiry "if they should be happy" stated:
"The opportunities that sney now has with contacts introduced to them by myself and others is vast. The amount of work and time spent on this project by what I now regard as a hard working professional team of people with individual skills could not have been more. It has taken time to put sney back on the map in SL and with dredges in the water and land mining contracts and license deals happening, then I think that anyone should be happy with the progress made with the budget available to us. I am here to make money and that can only happen for me with results. It is my opinion that those who have an interest in sney should be very happy. Bottom Line. I accepted a pittance of an allowance and payment on results and I am still here. I EXPECT RESULTS."
Operating results will be available shortly after the end of first quarter so as to not delay the 10K filing. Please visit our website: www.sunergygold.com. Update on Liberia will be forthcoming soon.
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 now 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.