SUNERGY reported
some solid news today out of their rapidly developing interests in Africa, with
wholly owned subsidiaries now established in both Liberia and Sierra Leone
(Sunergy Liberia, Ltd. and Sunergy Sierra Leone, Ltd.). After the recent trip
by management to settle requisite diamond and gold dredging accords (management
also saw to developing interests in The Gambia, Ghana, and Dubai), the company
is now ramping up for cash flow in 2014.
David Price has been
selected as Dredgemaster to oversee operations and has already begun work with
the first Sierra Leone dredge in a test location. With two more dredges
currently being deployed and Price having espied promising Kono district
targets during the recent trip, both of which previously saw considerable
diamond production (but were shuttered during the Sierra Leone conflict at the
behest of the local tribal authority, in part to preserve these riches for
future development), the company is now being allowed to tap in to a treasure
trove that was formerly sealed by the region’s Paramount Chief during the
conflict.
SNEY management has
clearly gotten in good with the Chief and after the recent meetings with him
and his close associates (with whom the company had already cultivated ties),
SNEY has now been granted exclusive rights to work what is one of the richest
areas for diamonds and gold in all of Sierra Leone (alongside the Chiefdom in a
partnership situation). This Chiefdom is also the largest in Sierra Leone and
thus the success of this deal paves the way for future lucrative development
opportunities for SNEY beyond this one extremely prolific area. Investors can
rest assured that Mr. Price, who is currently working on deploying those other
two dredges in Sierra Leone, will be working hard to scare up additional
opportunities as the dredging operations get underway.
The trip to
neighboring Liberia went equally well for SNEY and Price is set to return here
after the holiday season to begin implementing dredging at one of the target
sites that was kicked up in early December (one speculative location and two
other sites with solid operating histories to go on). The Bomi Hills site has
been pegged as the first target for dredging after considerable analysis by
management. SNEY should have their initial dredge operating here early next
year, with the Lofa River Bridge and Saint Paul River targets remaining as
secondary options, contingent upon favorable logistics and test results from
the initial operations.
In addition to a
large project being developed by SNEY in The Gambia via a partnership with ATA
Systems (which could produce significant long-term income flows), the company
has sidestepped Ghana’s regulations against dredging by making efforts to
develop a partnership with owners/operators of the necessary excavating,
hauling, and wash plant infrastructure to make recovery viable, while also
pursuing the acquisition of additional mining concessions in the country. Two
trips to Ghana now under their belt, management is confident that much
potential rests on the horizon here and they are expected to make a return
visit after the holiday season to further hammer out their already advanced
progress.
President and CEO of
SNEY, Garrett Hale, confidently projected the company would have at least a
half dozen dredges working Liberia this operating season and hinted at big cash
flows from associated diamond and gold recovery efforts. Dredgemaster Price
echoed these sentiments and extolled SNEY management’s bold, focused approach
to growing shareholder value in West Africa, further explaining to investors
that he was pulling strings in Liberia/Sierra Leone in order to bring
additional equipment online, anticipating a minimum of three dredges going in
each country by as early as this February.
More info on SUNERGY
is available at www.SUNERGYgold.com
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