Stocks & Investing
Stocks and Investing
Stocks and Investing
Wed, September 2, 2009
Tue, September 1, 2009 Sunergy Inc.: Robert A. Levich CPG, PG, EurGeol, FSEG, FGSA Joins Sunergy Advisory Board and Becomes Chief of Operations in Gha
SCOTTSDALE, AZ--(Marketwire - September 1, 2009) - Sunergy, Inc (the "Company") (
Levich conducted geologic mapping in advance of gold exploration in western Ghana, and systematic alluvial diamond prospecting in eastern Ghana for the Ghana Geologic Survey. He has worked closely with the Minerals Commission in Ghana and will be a valuable asset to our Company heading up our operations there.
Levich has also carried out exploration programs for precious metals and uranium in Montana, Washington and Colorado for Apache Energy & Minerals Company. He evaluated uranium resources in Uganda and Somalia and reviewed China's program for siting a deep geologic repository in the Gobi Desert for the International Atomic Energy Agency (IAEA).
He is the author or editor of 45 publications and organizer or chair of 25 symposia and workshops. He is a Certified Professional Geologist (CPG) by American Institute of Professional Geologists (AIPG); certified as European Geologist (EurGeol) by European Federation of Geologists; Fellow of the Geological Society of America; Fellow of the Society of Economic Geologists. He is listed in Who's Who in America and Who's Who in Science and Engineering and is a former president of AIPG, Nevada Section and has been the recipient of more than 20 DOE Monitory Awards and Commendations.
Mr. Levich comments; "I am quite excited to join the Advisory Board of Sunergy who I believe have a great vision for rapid development in Ghana and West Africa. I am also committed to work hard as Chief of Operations and will work closely with Karl Baum to commence permitting for our 150 sq. km. Nyinahin mining concession on my return to Ghana in a few weeks. I am also authorized to discover and evaluate potential acquisitions or Joint Venture opportunities, which I believe are significant and important for the rapid growth of our Company."
Chairman P.K. Medhi said; "I have known of Mr. Levich through the professional associations we were both involved in for many years. I am happy to have this opportunity to work directly with Bob on building our Company. It is very beneficial to us to have him join our enterprise since he has impeccable credentials and seasoned experience and lives in Ghana for a substantial part of the year. His ability and enthusiasm for a 'hands on' approach to operations will assist us greatly in establishing confidence in our operations and opportunities."
Our initial focus is on the planning and preparation for operations on our 150 sq. km. Nyinahin mining concession, located in Ghana, West Africa. During Q4 2009 we plan to test and evaluate the alluvial gold recovery potential along the Ofin River which runs through the eastern portion of the concession for about 45 km. We plan to do this by bulk sampling the numerous existing artisan pits along the river on our concession. Our planned budget is around $300,000.00 US which could recover an estimated 1,000 oz./gold generating around $900,000.00 of revenue from the program. Our plan involves either leasing a suitable gold recovery plant or joint venturing with another operator with suitable equipment.
The Ofin River is an easterly-flowing waterway in Ghana. It flows through the Tano Ofin Reserve in Ghana's Atwima District. The Ofin riverbed is 90 meters above mean sea level. The Ofin and the Pra rivers form the boundary between Ghana's Asahanti and central regions. Dunkwa-on-Ofin is a major town on the river. Gold is mined from the river's sediment. The Ofin tributaries also offer good gold and diamond recovery historically.
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 and Sunergy's ability to raise adequate funds on acceptable terms to develop its projects.
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.
