Sunergy Closes Initial Sale Of 27.5 Tons Of Stock Piled Black Sands From Pampana River, Sierra Leone Dredging Operations And Establishes A Base Price With Profit Sharing On Final Price To Produce Gold And Rare Earths Revenue
Our work in 2012 consisted of some additional sampling and testing on the Pampana concession, laboratory testing to determine the content of the black sand material and how to recover it in discrete marketable products and identifying and developing available markets for these products. The gold is readily saleable at spot on a daily basis, but will be sent to a refinery prior to sale. For 2013 we will implement what we have learned through the establishment of a commercial pilot plant operation on the 140.1 sq. km. Pampana River concession. Our equipment will be able to handle up to 4 tons/hour and could process up to 2,400 tons of material/month. This year's operations will generate new material that will be added to our existing stockpile in preparation for Pilot Plant operations. We intend to expand our stockpile significantly prior to start-up of the pilot plant in order to optimize operating efficiency for a better and more representative economic result. Cash flow should begin in Q1 and 2 of 2013 and grow over the balance of the operating season and into years 2-5. The company will also be developing resources through systematic sampling and testing along the river and its benches which will set the stage for potential off-take agreements for the REEs.
Gary Houck, Director, comments, "The Company wishes all shareholders a very 'Happy New Year.' I am excited that we are starting to generate cash flow in Sierra Leone. Country Administrator Hans Strand is preparing to start our 2013 operations with Wilfred Ullrich, our head of dredging operations. Wilfred has prepared for the startup of continuous operations for the 2012-2013 mining season and is to be thanked for securing the market for the 27.5 tons and managing our Pampana operations. Our financing is proceeding as scheduled (See Press Release dated November 29, 2012) and we look forward to a prosperous 2013 for all our shareholders. We are finalizing our 2012 Annual Report for filing with the Minerals Commission in Sierra Leone."
More news will follow on this and other Company operations. 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".
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 currently operating dredges on the Pampana Project.We are both production and acquisition oriented and are considering several additional projects suitable for near term production in West Africa. Notice Regarding Forward-Looking Statements
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