|By Marketwired .||
|April 25, 2014 11:15 AM EDT||
MONROVIA, LIBERIA -- (Marketwired) -- 04/25/14 -- Sunergy, Inc. (the "Company") (OTCQB: SNEY) is pleased to report that its Liberian dredge operations are now recovering diamonds and gold with 2 dredges and 2 crews in complementary operations. Funds have also been arranged to facilitate our Lease Purchase of the Wash Plant and Cat Loader capable of processing between 50 and 300 tons per hour.
Dredgemaster David Price says: "We have now received clearance for 3 Class B Prospecting Licenses in Bomi County that are contiguous from Bomi Hills to Lofa River Area in Liberia. This area was formerly operated by an international diamond mining company prior to the conflict in Liberia. The Ministry of Lands, Mines and Energy has recently removed licenses that were no longer current or in effect and being on the ground here has enabled us to gain these new licenses on highly prospective and productive contiguous areas. We are also working as sponsors of Class C licenses within our own Class B Prospecting licenses. Our dredges are now on actual diamond and gold recovery operations, results will be made available once they have been measured and certified. We are very pleased at the cooperation here in Liberia at the local level and at the Ministry and look forward to our planned additional growth."
Garrett Hale, President and CEO, stated: "We are now on track to achieve our goal of having and maintaining sustainable cash flow operations in Liberia. Dredgemaster and our on ground support team there have enabled us to reach this level in a few short months. All our operations there are suitable for year round operations, so we still have a lot of productive work to do this year. We are also making great progress in Sierra Leone as well and more information on that will be released next week. A note to shareholders, Management made a decision to not pay an outstanding note from Asher in the principal amount of $32,500 and instead used the funds set aside for this payment to enable the lease purchase of the wash plant and loader, which will pay returns every day they are used. Asher converted the last part of the note on April 22, 2014 and received 4,321,000 shares which are now being offered for sale. Once these shares are absorbed by the market, management believes that there is not a lot of resistance to achieve our goal to be at a penny by May 1, 2014, in compliance with the SEC rule changes to maintain our fully reporting and compliant listing on the OTCQB."
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.