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