Sunergy Operations Update for Liberia and Sierra Leone
Marketwired
SCOTTSDALE, AZ--(Marketwired - Jul 10, 2014) - Sunergy, Inc. ("Sunergy" or "the Company") (OTC Pink: SNEY) (PINKSHEETS: SNEY) announced today, an operations update for our mining projects in Liberia and Sierra Leone.
Liberia: We are pleased to announce that after several diligent exploration and testing programs, we have secured 15 Mining licenses contained within Three Class B Prospecting and Class C Mining Licenses. The areas cover approximately 365 acres of river, islands and land with extensive river frontage. Each Mining License is approximately 25 acres, of which we have explored, located and extracted Gold and Diamonds. One site has produced diamonds, while the other site has produced both diamonds and gold. See our website www.sunergygold.com for current pictures and brief video clips. We have added these video "clips" of our findings to share actual operating conditions while avoiding publishing locations or quantities for the security of our operations.
The main challenges we face at this time are weather and security.
Weather: The rainy season came early and heavy this year and the Company has adapted to this. We are presently engaged in removal of topsoil and overburden of a 30x30 pit which, when we break open into the river, will allow us a safe harboring area where the dredge can continue to recover precious gravel and work, as the sides collapse due to liquefied sands. We will let nature do the work.
Security: The security of our licenses and product are paramount to the future and safety of Sunergy Liberia Limited and its employees. We have gained the support of local town and village Chiefs, who continue to protect our venture and their property, as they are informed of any strangers who come to the area. Together with the support of our communities and Liberia's Ministry of Lands Mines and Energy, who have praised us for our business model of working in support of the local people, we are in good hands and welcomed for our ongoing community relations.
Sierra Leone: We are bringing our dredges and wash plant in for repairs and fabrication to prepare for re-deployment under winter operations. The Dredgemaster, along with our crew leaders will perform their due diligence on four prominent properties, holding large and documented quantities of diamonds and or gold, offered to Sunergy exclusively at this time. As stated by David Price, "We must first perform our due diligence before undertaking the expense of a crew and equipment to ensure the most cost-effective approach of assessing these properties."
Garrett Hale, President and CEO, commented, "I continue to be excited about the minerals and precious stones we are finding, especially under rough winter conditions. In addition to the opportunities which are being offered to us, they are being offered in trust, which is being extended to our Company. As we have noted, many mineral rich properties are very closely held, as many people's lands were inappropriately or unfairly exploited by others in the past. It should be seen as an honor that locals feel a comfort level with our Company and crews. Having an Operations manager such as Dredgemaster Price with deep roots in Sierra Leone has definitely added value and trust to the Sunergy team.
We are entering into a new phase for Sunergy and in the process of becoming a sustainable revenue generating company. The Company has significant working equipment, competent personnel and has physical results of diamond and gold production for the first time in Sunergy's history. Secondly, we are prepared in Liberia and preparing in Sierra Leone to have crews and equipment working and in place for operation on or before the new mining season. I find this to be a remarkable change from prior years of Sunergy before we were able to secure producing properties," continued Mr. Hale.
Management has recently returned from a comprehensive visit to our West African countries regarding Airport Security and Affordable Housing Projects and these projects are actively underway. These projects involve substantial negotiations and information must remain confidential until closing per our respective confidentiality agreements. Updates will be made available as appropriate.
About Sunergy: Sunergy Inc. (OTC Pink: SNEY) (PINKSHEETS: SNEY), a Nevada corporation, is a junior mining company headquartered in Scottsdale, Arizona. The Company has made a transition from an exploration only company to a company currently focused on production and cash flow. We now have four dredges operating, 2 in Sierra Leone and 2 in Liberia. 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. For more information, please visit www.sunergygold.com
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 or cash flow from Liberian 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.
