Siera Leone: Sunergy Awaits Approval for Pampana River Exploration
Sunergy has announced that they are awaiting approval on Pampana Exploration License, initiates cash flow business providing mining support services with existing equipment and enters into a partnership with ATA Systems of Orlando, Fla. to provide affordable manufactured housing throughout Africa.
“We await approval of our 4 year renewal application for our Pampana River Exploration license in Sierra Leone. The Company has also requested our “Order to pay” and await final Minerals Commission Board approval.
Management’s recent visit to Sierra Leone resulted in starting an additional business for Allied Mining and Supply, Limited, providing mining support services, using our existing equipment and personnel to generate guaranteed weekly cash flow and earn a negotiated piece of gross sales in each operation in which we participate.
Our plan going forward is to get all three dredges operating for weekly positive cash flow and to establish an environmental services group to service other mining company needs as well as to conserve costs on our own,” the officials announced.
Company President and CEO, Garrett Hale, explains; “Under our agreements, the land owner/sponsor pays all costs to move and operate our equipment, pays our crews and pays us a flat fee weekly for each dredge plus we get a negotiated piece of gross sales weekly at no cost whatsoever to us. We can pull out at any time with 2 weeks notice, to move to our own operation or to another contracted one. We also plan to build about 7 or 8 additional dredges this year to put to work under contract as well. Private asset based financing secured by the guaranteed cash flow is how we intend to finance this growth.”
Hale continues; “I am really excited that our commitment to cash flow for 2013 is taking shape. This in no way changes our focus from mining our own projects; it just enhances our profitability and enables us to build more equipment in Sierra Leone for our own future production plans. It also lets us keep some eggs in productive baskets, rather than having equipment and personnel sitting idle. We expect to start our own new diamond, gold and black sand operation on the Sewa river in early December, once the main rivers are settling down. We will commence further exploration efforts on Pampana once renewal is approved.”
Press Release, September 23, 2013