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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