Sunergy Awaits Renewal Initiates Cash Flow Operations
Press Release Source: Sunergy Inc. On Thursday September 19, 2013
Sunergy Awaits Approval on Pampana Exploration License and Initiates Cash Flow Business Providing Mining Support Services with Existing Equipment and Enters into a Partnership with ATA Systems of Orlando, Fla. to Provide Affordable Manufactured Housing Throughout Africa
SCOTTSDALE, AZ--(Marketwire - 09/19/2013) - Sunergy, Inc (the
- News) We await approval 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.
Management's recent visit to Sierra Leone resulted in starting an additional business for Allied Mining and Supply, Limited, providing mining support services, using our existing equipment and personnel to generate guaranteed weekly cash flow and earn a negotiated piece of gross sales in each operation in which we participate. Our plan going forward is to get all three dredges operating for weekly positive cash flow and to establish an environmental services group to service other mining company needs as well as to conserve costs on our own.
Company President and CEO, Garrett Hale, explains; "Under our agreements, the land owner/sponsor pays all costs to move and operate our equipment, pays our crews and pays us a flat fee weekly for each dredge plus we get a negotiated piece of gross sales weekly at no cost whatsoever to us. We can pull out at any time with 2 weeks notice, to move to our own operation or to another contracted one. We also plan to build about 7 or 8 additional dredges this year to put to work under contract as well. Private asset based financing secured by the guaranteed cash flow is how we intend to finance this growth."
Hale continues; "I am really excited that our commitment to cash flow for 2013 is taking shape. This in no way changes our focus from mining our own projects; it just enhances our profitability and enables us to build more equipment in Sierra Leone for our own future production plans. It also lets us keep some eggs in productive baskets, rather than having equipment and personnel sitting idle. We expect to start our own new diamond, gold and black sand operation on the Sewa river in early December, once the main rivers are settling down. We will commence further exploration efforts on Pampana once renewal is approved."
In addition, We have forged a partnership agreement with ATA systems, Inc. of Orlando, Fla., to represent the affordable manufactured housing project, as well as custom homes, apartments, schools and hospitals as part of our Humanitarian efforts in Africa. Affordable, clean housing is in great demand in Sierra Leone, Liberia, the Gambia, Guinea, Senegal, Cote D' Ivore and Ghana. See website http://www.sunergygold.com/ - Special Link on top of home page. This is a for profit enterprise for us that has a strong humanitarian component associated with it.
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. In his place we have appointed Terri Laconte, an attorney, educated at Harvard Law School and a resident of sierra Leone for some 7 years. She has a UK passport and is originally from Spain. Terri knows her way around very well and is quite familiar with the ever changing mining laws. She will work closely with Alieu Mahdi, consulting geologist. Company President, Garrett Hale comments; "This is really an exciting time for us. Our new Country Director, Terri Laconte will assure that our administrative efforts going forward will be handled professionally. We are now working closely with local artisanal miners in the recovery of diamonds, gold and rare earths this year and will be able to 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 http://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.
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 are in the renewal process for our Pampana River Rare Earth, Gold and Diamond concession in Sierra Leone, West Africa. We have been 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.