Sunergy Raises USD 150,000 Through Combination of Loans and Equity

Sunergy, Inc. has announced that it has raised $150,000 in a combination of loans and equity in the months of November and December.

These funds will primarily be used to enable the Company to commence seasonal dredging operations in Sierra Leone and Liberia. The Dredgemaster, David Price, is leaving the UK for Monrovia, Liberia and will land this afternoon.

Garrett Hale also will arrive in Monrovia on December 6th with other management personnel and our company geologist from Sierra Leone. Other Management persons are also going to Ghana. All management will meet in Liberia before travelling to Sierra Leone and will commence dredging operations in both countries as soon as water conditions in the rivers allow,” the officials announced.

While Ghana does not allow dredging in its rivers for gold and diamonds, alluvial operations are allowed with excavators, trucks and wash plants for recovery.

“We are currently in discussions to expand our base in Ghana as well as to pursue strategic partnerships with owner/operators of the above equipment for near term profitable operations. We are also considering additional mining concession acquisitions in Ghana at this time,” they stated.

Sunergy President and CEO Garrett Hale says: “We now believe that we have established business relations that enable us to be profitable going forward. Dredgemaster being on board is certainly a big part of that and his knowledge and abilities will reward our current shareholders and attract future shareholders to our company’s operating strategy. We will get our existing three dredges fully operational and working and then we will build another dozen or so through 2014. We will use generated cash flow to guarantee direct equipment financing, thus avoiding additional shareholder dilution. We are targeting six figure income each month starting in Q3 of 2014 and really believe that this is probable.

Press Release, December 3, 2013

 

Share this article

Follow Dredging Today

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

3rd International Congress Hydraulic Engineering Structures and Dredging

Russia’s leading maritime industry Media Group PortNews (www.portnews.ru) holds a traditional annual Congress “Hydraulic Engineering Structures and Dredging” in Moscow. 

The two-day Congress includes the 7th International Forum of Dredging Companies and the 3rd Technical Conference “Modern Solutions for Hydraulic Engineering”.

Infrastructure development is among the real sources of Russia’s economy growth. Construction of port facilities and new hydraulic engineering structures on the country’s inland waterways constitute an essential part of all infrastructure projects. It is important to take into account the best international practices to implement these projects effectively.

The program of the Congress will be devoted to the latest technologies for dredging and hydraulic engineering works. Speakers and delegates will refer to real projects to discuss specifics features of dredging works, as well as dedicated fleet and equipment involved.

To learn more about event, please, contact the organizing committee: snitko@portnews.ru

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of DredgingToday.com, you'll reach countless professionals in the sector. For more information, click below....

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of DredgingToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Dredging jobs in Abu Dhabi at NMDC

National Marine Dredging Company “NMDC” aims to be the largest dredging player in the Arab’s Gulf region...

apply