Sunergy's President and CEO, Garrett Hale Provides A Positive Update On Operations On Our 140 Sq. Km. Pampana River Rare Earths/ Gold Recovery Project And Other Opportunities In Sierra Leone After Returning From His Recent Trip
May 13, 2013 08:30:00 (ET)
SCOTTSDALE, Ariz., May 13, 2013 /PRNewswire via COMTEX/ -- Sunergy, Inc. (the "Company") (otcqb:SNEY) is pleased to announce that Garrett Hale, President, CEO has returned from his recent trip to Sierra Leone where he visited and evaluated our facilities, operations and personnel. During this visit he also reviewed all our testing sites and initiated a re-testing program under the supervision of a geologist which will result in assays and mineralogical information that will qualify for publication in a CNI 43-101 compliant report establishing resources and reserves. His mission was also to advance our ongoing operations on the Company's Pampana River Rare Earths/ Gold recovery project and other potential operations currently under review.
Garrett comments: "I had a very productive trip to Sierra Leone. In addition to visiting and reviewing all aspects of our current ongoing Pampana River exploration operations, I had the opportunity to visit other projects that we have been studying as well. I am impressed with our secure compound facility in Magbruka and the dredging operations underway in the river. I was on the dredges and spent time observing all aspects of the recovery operations. I saw visible gold, huge amounts of rare earths in the black sands and am excited about the future economic viability of our operations. Sunergy has worked diligently this past year to put professional management in place and to identify and replace operational inefficiencies. I am confident that this has been accomplished and that our Company's objectives to develop cash flow from operations on our Pampana river Project and other potential operations is readily achievable. All the historical work has led us now to the point that we are ready to move to the next level which is the establishment of sustainable cash flow."
He adds; "I also enjoyed the opportunity to meet with the Minerals Commission personnel, the Registrar of Corporations and other administrative departments and personnel and took the opportunity to introduce myself and Sunergy at every level. We enjoy great support for our development efforts in Sierra Leone and are being encouraged to continue our efforts to become a much larger operator in their country. We received our $1,200/ ton from the sale of 27.5 tons of black sands in December and these funds have been being used to fund our ongoing exploration operations and facilities in Sierra Leone. We are also pursuing a new capital development program that raises from $500,000 to $10,000,000 in three phases. I now have complete confidence that our proposed Pilot Plant level operation will be successful and lead to the development of 3 large commercial production plants that will feed a central commercial processing facility. We can grow our operation to produce and process over 2,000 tons of concentrates/month. More details will follow."
In conclusion; "This trip for me confirmed the original vision that I had when we first started as Allied Mining and Supply LTD in 2009. Like a caterpillar in a cocoon we are now ready to emerge as a beautiful large butterfly, as it is time to take all the past years of discoveries and put them to work. We will find the capital to do this essential work and we will do it without severely diluting our common shareholders. Our current shareholders are the ones who have taken the greatest risk and almost watched us drift down the river. The drifting is over, we are clear and have the right team in place for success. I look forward to returning to Sierra Leone shortly to continue our efforts to achieve remarkable growth for our shareholders."
Wilfred Ullrich, Pampana Operations Manager says; "Garrett's visit was a very important one. We have been working hard to implement the operational changes required and when he arrived he immediately was up to speed with both operations and our local culture. We are very happy with all the new changes and I am really excited to be part of the new Sunergy operating team. Garrett is truly committed to the future of Sunergy here in Sierra Leone, which has convinced me to be willing to work for both wages and shares as an owner of the Company. We welcome Garrett's return soon and all enjoy working with him."
Other potential operations that offer immediate cash flow opportunities are available to us at this time and we are looking to add wherever possible subject to capital budgeted for those operations. We cannot go into details at this time due to confidentiality constraints but will share relevant information when available.
There will be further discussion of both our existing operations and our plans for all seasons operations that are underway at this time.
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.
Contact: President: Garrett Hale, 707.255.5836 garrettsvp@gmail.com
Investor Relations: Steve Parent 480.326.5435 steve@sunergygold.com
Sunergy, Inc, 14362 N. Frank Lloyd Wright Blvd Suite 1000, Scottsdale, AZ 85260 Tel: 480.477.5810
SOURCE Sunergy, Inc.
