Sunergy Update: Pampana Concession Renewal Filings, Permits and Associated Fees Have Been Paid and Filed in Sierra Leone and New Opportunities Under Development
Press Release Source: Sunergy Inc. On Thursday August 1, 2013
SCOTTSDALE, AZ--(Marketwire - 08/01/2013) - Sunergy, Inc (the
- News) is pleased to announce that all filings, permits and associated fees have been paid and filed with the Minerals Commission in furtherance of our 4 year renewal application for our Pampana River Exploration license in Sierra Leone. The Company has also requested our "Order to pay" and await final Minerals Commission Board approval. EXPL 5/2009 was a renewable exploration license and the renewal submission is complete. We expect the "Order to pay" any day, once the Minerals Board finalizes its business. Our new work plan involves exploration on the terraces that flank the Pampana which can be done in all seasons. Our plans for the pilot plant for Pampana are still very much alive as well.
To clarify from our previous PR issued on June 1, 2013, our Pampana operations were VOLUNTARILY stopped by Company personnel at the advice of Alieu Mahdi, consulting geologist. His suggestion contemplated our waiting until the administrative process for renewal on Pampana had been completed. He encouraged our personnel to begin due diligence on the project discussed below and others during this time.
Another proposed gold, rare earth and diamond operation that will offer immediate cash flow opportunities has advanced substantially, in another highly prospective region for diamonds, gold and black sands in Sierra Leone. We are looking to add operations wherever possible subject to capital budgeted for those operations. Our focus going forward will be on operations that will allow cash flow through sale of diamonds, gold and REE's (Black sands).
Our former Country director Mohamed El Tayyib Bah is no longer associated with our Company or its operations. We wish him well in his public service role that he has elected to pursue in service of the Sierra Leone people. We are currently evaluating other suitable persons who may best serve our needs going forward.
Company President Garrett Hale says; "This is really an exciting time for us. We plan to expand our cash flow opportunities this year while continuing the exploration/development of our Pampana Concession. We are planning to work closely with local artisanal miners in the recovery of diamonds, gold and rare earths this year and sell these products. The diamond market is certainly on the move and demand already outstrips supply by 2 to 1. Alluvial diamonds offer the finest specimens of all according to recent statistics, and we have identified a very prospective area."
Please visit the Sunergy website www.sunergygold.com and review further information such as Company Reports under Projects, Previous Press Releases and SEC filing information under Investor Info. Our Facebook and Twitter sites are quite active, so please visit our website to access those links.
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 operating exploration dredges on the Pampana Project and are advancing operations there to the installation of a commercial pilot plant to separate the gold and selected other valuable minerals for sale. We are always open to Joint Venture participation on all our projects. We are production and acquisitions oriented and are considering several additional projects suitable for near term production.
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.