Stocks & Investing
Stocks and Investing
Stocks and Investing
Fri, August 14, 2009
Thu, August 13, 2009
Wed, August 12, 2009
Sunergy Inc.: Sunergy Appoints Karl A. Baum Manager of West African Business Development
SCOTTSDALE, AZ--(Marketwire - August 12, 2009) - Sunergy, Inc. (the "Company") (
Mr. Baum brings with him a background in Business Management from Arizona State University and International Management Studies from Thunderbird School of Global Management. He has over 5 years of experience within West Africa serving as the General Manager for (2) small-scale exploration and gold mining operations within The Republic of Ghana with 7,000 ton/day capacity. As International Procurements and Logistics Manager he has overseen the shipment of over USD 15 Million worth of capital equipment from the United States and imported into Ghana. He has led the permitting activities for the operating mines in Ghana and enjoys a good working relationship with the local and national authorities. Prior to his positions within Ghana, Mr. Baum served as Permitting Coordinator on several gold mining projects in Colorado working with the EPA and Division of Minerals and Geology to ensure regulatory compliance.
Mr. Baum has also provided assistance in developing several large scale contracts for mining services within The Republic of Liberia and Sierra Leone; giving him a working knowledge of the customs and concerns of performing within the West African business climate. This hands on experience within the region has assisted him in providing turn-key supply chain management solutions which are vital to successful operations in this part of the world.
Karl commented, "I am excited to join the Sunergy family because we share the same vision and goals for developing a large diversified Company throughout West Africa. This economic downturn has uncovered several opportunities that are available now for those ready to do business in Ghana and West Africa. I will return to Ghana shortly and start implementing our business plan for near term gold production and cash flow and keep my eyes open for opportunities."
Company Chairman P.K. Rana Medhi said, "We now have an area manager with local knowledge and substantial connections in Ghana. With our debt settled, we are now in position to begin work in earnest on our 150 sq. km. Nyinahin mining concession and Karl is the perfect manager to take us through permitting to production."
President Joseph Guerrero commented, "Our aggressive approach to developing our projects and evaluating expansion projects can now proceed rapidly. With Karl's assistance and leadership, we are committed to building a diverse revenue base taking advantage of the business opportunities that Ghana offers."
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. The concession is surrounded by several operating mines and is adjacent to Newmont Mining's property. This concession has the Ofin river flowing through our eastern portion and there are numerous artisan pits ready for testing and evaluation for near term production. The Ofin river is known for good alluvial gold production. Artisans usually recover about 30% of the available gold through primitive hand methods, leaving 60-70% to be recovered by modern mechanical operations.
Further information is available on the Company's website [ www.sunergygold.com ]
Notice Regarding Forward-Looking Statements
This current report contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, any mineralization, development or exploration of the Nyinahin Mining Concession in Ghana, West Africa.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
