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
Press Release Source: Sunergy Inc. On Tuesday May 06, 2014
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.