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Interesting article, haven't seen a reference to this info before. I have enjoyed a few Ranger IPA's tonight, so I could use a little help with the math, Dredge, I would truly apreciate your thoughts on this.
http://www.dredgingtoday.com/2010/09/08/sierra-leone-sunergy-inc-to-expand-gold-mining-operations/
Some highlights:
“The Allied concession incorporates approximately 38 river km. The black sand deposit in the river starts from the center of the river and extends approximately 1km east and west. The area, designated as the ‘strip,’ has an average of 3.5 kilos of black sand per square meter, extending to the bedrock."
"In addition to the known mineralized material that is within the 200 meter wide strip of river, there is an additional kilometer on each side of the strip which is also very rich in black sand."
So, trying to figure this out, theres two variables that we don't know, width and depth (if I am reading the above correctly). Let's assume the "strip" is 1m wide.
Length is 200m (200 m wide strip) + 2km (additional km per side) = 2200m.
2200m (L) x 1m (W) = 2200 sq/m
2200 sp/m x 3.5 kilos per sq/m = 7700 kilos black sand
7700kilos x 2.20 (1kilo=2.20lb) = 16940lbs
16940 / 2000 (lbs/ton) = 8.47 ton
8.47 t x $8421 (black sand value per ton per pr) = $71,325 value of black sands per 1m width.
If this "strip" is 100m wide = $7,132,500
If the "strip" is 1km wide = $71,325,000
Not sure if I am calculating this correctly, would apreciate anyone else taking a crack at it.
Can't forget the disclaimer:
Disclaimer: Sunergy is relying on information provided solely by Allied Mining and Supply, LLC and historical geological reports which it has not been involved in the preparation of. This information is not SEC Industry Guide 7 compliant and therefor should not be relied on by investors for investment purposes.
"Yippie for me, let's go SNEY" -that was for you Risk- lol
Lilbird, nebula, can u answer the question if they did hold the concert and what the outcome of it was? I have been holding since April, and am basically a bag holder for now. I'm not gonna sell until this thing runs, but I am down 50%. This board doesn't get a lot of action, and I have just started to post myself. I have my doubts, but also see huge potential if the co sticks to a game plan. Mm is going to he a savior to many states deficit issues, but we need to know what is happening, just not these fluff prs. Any info you could shed on the concert would be appreciated, Ty in advance.
Does anybody know how the concert went, did they have it?
MyLife, will be anxiously awaiting your update.
A few questions I would like posed:
"SNEY will begin a gold purchasing program from the artisan’s already working on the concessions.......The purchasing program from the locals will be immediately profitable with profits initially being contributed to the development of alluvial production equipment and operations..." Please update us on this, how much has been purchased, what type of value was gained, and what equipment is planned to purchase?
Do we have buyers in place for REE's? Is a production facility on site for seperation and operational? Has the concentration of Rutile increased/decreased from dredging ops?
in the june 2nd pr, it was stated "We are also currently planning expanding our ground operations to include another valuable readily marketable product in addition to our Pampana Rare Earths." where are we with this expansion, still surveying? in actual production phase?
I, like pooter, am not sure what can be answered, but a few of the questions I would like some clarity on. thanks ML.
My take on "The 10Qs for 2011 are reviewed items and will follow the 10K" is simply that they won't be audited for the Q's, therefore should be quicker to put out than fully auditing not only SNEY, but Allied as well. I can see where a cash economy in SL would cause hold ups. Have any of you ever been audited by the IRS, it is painful to say the least and they want everything. There is a small percentage of billing you can let slide without proof (receipts) but you need to have the proof of purchase. So if it's not a new truck sitting in the parking lot that the auditor can physically see, it becomes much more difficult…mo money mo time.
Just my opinion, I am not an expert in these matters, but my business has been audited by the IRS over 6 times in 12 years. (if you ain’t cheating, you ain’t trying ?)
Lol indeed! I'll give them back when they reach a multiple of 1000. I think I found my new signature, "yippie for me lets go sney!"
Strange. I had a limit order open for a few hours this morn, low balled it b/c I would be away from my office, get back and see that 100k was partially filled in increments of 37, 10, & 50. Looking at times and trades, the 37k buy is lumped together with a 200k sell? the 10 stands alone as a sell, when it was a buy, then the 50k show up as a buy. etmm playing games? idk, still learning the trading game, but that leaves me scratching my head, then to hear euro's story...wtf is going on?
I got mine partially filled today, wierd though, got 97k in three partial buys, all below ask and bid, picked them up @ .0082. Using etrade, don't know how I got em, but I did, so yippie for me lets go sney!
Thank you sir.
Honostly hoping for a bit more of a dip today, have an order pending, but low balled it a bit to get the qty I want. Hoping to accumulate 1m before this explodes. Have a ways to go, but...
I was going to predict gold above 1700 by weeks end earlier this week, but decided to keep my mouth shut. 1676 as of, wow, too many positives for this to stay down much longer, just give me my shares at my price before launch.
Long and strong SNEY
Falon, we knew we would hear something Wednesday, per timber and mugs convo, but I don't believe what we got is what SP was referring too. Are we really sure we are going to get a production update? Some here believe mngt doesn't want to give production numbers until fins are in, in your oppinion, will we see production no's before 10k?
Nice PR....not. IMO, we need some meat and potatoes, show us what your doing with our money. A previous poster commented that he is wasting investor monies by supporting the Playboy party...I dissagree with that. The Playboy party had many supporters of the mmj movement at it, and now they all know who Altitude is. That is a good thing, and hopefully we gained some new investors. What I do agree is wasting our money, is throwing a concert in a time when people aren't spending free cash on concerts. They probably (i have no idea here, not my specialty) needed to clear a minimum of $200k to break even for the concert...I dunno, think that's dumb of them. And if we are caring about the 50 y/o with glucoma, do you really believe she gives a rat's a$$ about Twista and Marques Houston? This concert was supposed to be July 15th, where's the update on that? How many potential clients did they reach? Did they make Ca$h? Anybody have any idea on the concert?
Risk, as always a "beacon of strength" for this board. This is not the slam dunk we were are hoping for. Yes, costs money for operations, start up, prospecting, etc. I had hopes that a little more light would be shed on the subject in the PR, guess we just wait a little longer. I also know it takes money to "add extra manpower at every level to insure the most expeditious result possible." Where is the money coming from....the ground! Gold on the rise. Go long sney.
Agreed....just dangling the carrot...really hope this isn't what Mugs had in mind.
After the anticipation of yesterday, this PR is a little flat for my liking, hoping they go with back to back PR's with a operational update soon. Live Long and SNEY'sper.
got it, for when I win with sney! Still learning, have a lot to teach but more to learn.
It's not the age of a person...it's the bank account..lol. So really, what does fwiw mean?
um...what is fwiw? Sorry, not too hip with all you young kids slang out there.
I grabbed another 100k at .0077 yesterday, I'm tapped out for the week.
Nice! Need some powder to help get this off the ground today...a decent pr, check that, any pr would be sweet....
With (good) news, waaayyyy higher!
Nice 10k slap at the eod! That's green baby!
Etrade filled me pretty quickly this morn at the ask....slapping that pig all the way up! Bye bye .007!
Muito bom!
Come on slappy's...slap it!
Agreed...
Does anyone else see where bid/ask is? What is this? PPS .01 bid.01 ask.0105. Still learning, but this doesnt make sense to me?
612,344 shares bought (50k for me)since last sell, and the bid doesn't budge???
All we know for fact, public fact, is 40 tons of black sand. I am not trying to bash you, in fact, you are a beacon of strength that keeps my hope alive. Today I was suprised when I saw your 80 tons get moved to 120. Yes, I can add, I believe the statement was something like 40 tons now (mid-june) and another 40 by end of June. So yes, logically they should be over 120-160 tons by now, but until they actually state that, how do we know?
Risk, do you know for fact there is 120 ton of black sands stored? I don't think you do, if you did, you would be privy to insider information, I think you are speculating based off of past production. We cannot know for sure that the rate is increasing/decreasing until the compnay tells us. I am a relativly new investor, been holding since April and adding as I can, but I think that we need to be responsible in what we post here. To throw numbers out that sound great to wanna be investors, or the longs is fun, but based on nothing that I am aware of, is dangerous. I'm not happy about being in the red with SNEY, I have added more after the last PR, with the thought that they would have all the filings out "in a few days". Well it's been longer than a few days for all the filings they claimed they would put out.... Sure, things pop up and there is a delays, same with black sands production. Who knows, maybe the dredges blew a seal, or a dredge got rammed by a hidden log and sank, or they found the mother load and are pulling 100 oz of gold per ton of gravel, or maybe they found 10 karat diamonds hanging off a banana tree.....point is, we don't know and won't know until the company tells us. Sorry to go off, I respect what you do and how you moderate this board, but to say 120 ton of black sands as a fact, is irresponsible of you. Just my oppinion.
Wow G, I have never seen both the support and resistance above current pps. What gives?
That would be me, though I coulnd't afford that whole chunk, i did manage to help lower my average. Just want to say thanks to Risk, Dredge, Mud and the others that keep the faith alive. We all know this is the slow time of year for stocks, people are busy, kids are out of school, etc. etc. We are here because we believe this company is doing what they say they will do, albiet not in their timeline, and that someday soon CE will be removed and the flood gates will be opened. I'm still learning this game, some of you have helped me with my questions, and I apreciate it. Is this the bottom? IDK, I hope....
GLTA
It has been slapped...
Have my order in at the bid, etrade not filling....
Thanks Timberliner for your patience with me. I am speaking specifically of the volume chart. I use etrade and it shows me a 9k, 42.9k, and 6.6k volumes moves in black, then one 5k move which is painted red for the sell. Are the first three moves filling the gap, and if so, why do we see them throughout the day?
Still don't understand how 58,500 share traded have no effect for the first 50 minutes of trading on the pps, then a 5k order drops us down.... One other question, when I am reading the volume, you have green bars and red bars, those I know, but what do black bars represent? Institutional buys, MM's???
Then why with a 5k sell order do we drop 5%? Doesn't seem right to me, but perhaps I'm too green to truly understand what is happening with the pps day to day. I am holding long, added to my position yesterday, just confused I guess. Thanks for the reply.
How is it that we have over 58k in volume with no effect on PPS? Another one of my holdings had less volume but has moved up and down. Fairly new to investing and looking to learn as much as I can. Any help would be great, glta.
nice, you captured my buy. Added another 35k, glta!!!
Yes Yes Yes!!! Transparency, open communication, reporting better than expected results......going to explode!