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Agreed Fangster,
An update is past overdue.
For a technical trader the stock price means the world.
For an investor and from a fundamental point of view the stock price means less until the fundamentals come into play.
We are waiting for the fundamentals to come into play.
How much product (gold, REES, UI product)?
Are we funded?
Ghana?
Sales?
etc..
Sierra Leone's gold 419 scams dupe the gullible
Question to google.
http://www.google.com/search?q=Is+there+golld+in+Sierra+Leone%3F&ie=utf-8&oe=utf-8&aq=t&rls=org.mozilla:en-US:official&client=firefox-a#hl=en&client=firefox-a&hs=4hV&rls=org.mozilla:en-US:official&sa=X&ei=qO9PToeDO8nXgQfZzIhH&ved=0CEEQvwUoAQ&q=Is+there+gold+in+Sierra+Leone%3F&spell=1&bav=on.2,or.r_gc.r_pw.&fp=165bfefa6b75e1a2&biw=1120&bih=453
Is there gold in Sierra Leone?
Answer from google:
BBC NEWS | Business | Sierra Leone eyes a golden future
news.bbc.co.uk/2/hi/business/5262960.stm - Cached
Aug 20, 2006 – Woman panning for gold in Sierra Leone. We all know there is an abundance of gold but until the government starts regulating the industry ...
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Sierra Leone Gold scam Alhaji Abu Sesay and Alfred King Sesay ...
www.419legal.org › ... › The 419 Legal Blog - Cached
3 posts - 3 authors - Last post: May 17
SIERRA LEONE GOLD FRAUDERS WE HAVE LOST MUCH MONEY IN 2008 TO THIS ... Mr. Alhaji Abu Sesay lived there,in a large villa. ...
Dredging Today – Sierra Leone: Sunergy Inc. to Expand Gold ...
www.dredgingtoday.com/.../sierra-leone-sunergy-inc-to-expand-gol... - Cached
Sep 8, 2010 – Sierra Leone: Sunergy Inc. to Expand Gold Mining Operations ... strip of river, there is an additional kilometer on each side of the strip which is ...
Sierra Leone's gold 419 scams dupe the gullible - Mineweb
www.mineweb.com/mineweb/view/mineweb/en/page34?oid... - Cached
Feb 2, 2011 – "There's no cheap gold in Sierra Leone ... I work in volume," he explained. While Sierra Leonean officials emphasize their determination to ...
Sierra Leone
travel.his.com/travel/cis_pa_tw/cis/cis_1016.html - Cached
It is not uncommon for registered diamond or gold dealers to target foreigners using ... There is no local equivalent to the “911” emergency line in Sierra Leone. ...
SIERRA LEONE MINING
www1.american.edu/TED/leone.htm - Cached
The Issue There is enormous pressure to mine Sierra Leoneþs natural resources. The activities of Sierra Leone's two large-scale mining companies result in ...
allAfrica.com: Sierra Leone: Gold, Not Diamond!
allafrica.com/stories/200903260803.html
Mar 26, 2009 – Gold mining has always been a small industry in Sierra Leone but hopefully ... "For years people have said 'there's gold in them there hills' but ...
Sierra Leone
www.state.gov › ... › Background Notes - Cached
People play soccer on beach in Freetown, Sierra Leone, May 12, 2002. ... Natural resources: Diamonds, titanium ore (rutile), bauxite, gold, iron ore, ... During the 1700s there was a thriving trade bringing slaves from Sierra Leone to the ...
Sierra Leone diamond miners go for gold - News - Mail & Guardian ...
mg.co.za/.../2009-03-20-sierra-leone-diamond-miners-go-for-gold - Cached
Mar 20, 2009 – Diamond mining in Sierra Leone is following a global economic trend with ... "For years people have said 'there's gold in them there hills' but no ...
Mining in Sierra Leone - Wikipedia, the free encyclopedia
en.wikipedia.org/wiki/Mining_in_Sierra_Leone - Cached
The main minerals mined in Sierra Leone are diamonds, rutile, bauxite, gold, iron ... small scale mining of alluvial deposits, and by 1965 there had been a large ...
Algy Cluff striking more gold in Sierra - Daily Mail
www.dailymail.co.uk/.../Midas-Algy-Cluff-striking-gold-Sierra-Leone-Cluf...
Gold Dealers
gold-dealers.goldprice.org/ - Cached
There is a premium of 14 to 15 percent over the spot price for gold but you can nominate the bars you would like. ..... Sierra Leone Coins Commemoratives Coins ...
Sierra Leone Gold and Diamond Corporation (SGDC)
www.svbizlaw.com/emails.sierraleonegold.htm - Cached
Mar 5, 2007 – Sierra Leone Gold and Diamond Corporation (SGDC) referenced in ... If you are victimized by the fraud, there is not much that you can do. ...
The Gold Watcher: Sierra Leone Gold Scams Take Root
thegoldwatcher.blogspot.com/.../sierra-leone-gold-scams-take-root.h... - Cached
Feb 2, 2011 – "There's no cheap gold in Sierra Leone ... I work in volume," he explained.... As for buying gold at a discount, I've only seen one case: a 14 K ...
Sierra Gold Corporation (SGCP) Stock Message Board - InvestorsHub
investorshub.advfn.com › Boards › US OTC › Mining/Resources - Cached
Sierra Gold Corporation Stock Message Board, SGCP Stock Quote, SGCP ... If there were "required reading," this would be part of it. ... 5-2-11 BioCarbon Solutions Secures Carbon Development Agreement With Gold Minor in Sierra Leone ...
Getting at the Gold in Southern Sierra Leone | Africa | English
www.voanews.com/.../Getting-at-the-Gold-in-Southern-Sierra-Leon... - Cached
Apr 22, 2010 – Better known for its diamond fields, gold exploration and mining in Sierra Leone is on the increase. The British company, Cluff Gold, has ...
Questor share tip: Cluff Gold's exploration looks ... - Visit Sierra Leone
www.visitsierraleone.org/Sierra-Leone.../Questor-share-tip-Cluff-Go... - Cached
It confirmed a new gold find in Sierra Leone, but Cluff was still loss-making in the last financial year. There had been hopes that 2010 would be the company's ...
Names Used by Nigerian Scam Artists in Money Transfer and Bank ...
www.consumerfraudreporting.org/nigerian_names.php - Cached
There are several fake documents to see, too. ... Camara group, cattle vaccine - Ivory Coast; Cocoa business - Sierra Leone; C Johnson, "attache at African consulate" - ... Johnson Musole, gold mines - Ghana; Joseph Estrada - The Philippines ...
Sierra Leone - Sierra Gold Corporation
www.sierragoldcorp.com/sierra_leone.php - Cached
The Sierra Gold Corporation is exploring Sierra Leone properties for high yeild ... Sierra Leone is a Democratic Republic located in West Africa 8 degrees north ...
Sierra Leonean Customs: Regulations, Export-Import Procedures of ...
sierra-leone.visahq.com › Customs - Cached
Sierra Leone's customs authorities enforce strict regulations concerning the export of gems and precious minerals, such as diamonds and gold. All mineral ...
Minerals for Development - Mining of Gold in Sierra Leone - FULL ...
community.eldis.org/.59e13b58 - Cached
Oct 15, 2010 – Mining of Gold in Sierra Leone - FULL-SCALE COMMERCIAL GOLD ... of gold and alluvial diamond production suggests that there are many ...
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African Gold Dust / Diamonds Scam « Anil Machado's Blog
anilmachado.wordpress.com/.../african-gold-dust-diamonds-scam/ - Cached
Jan 11, 2011 – All mineral resources, including gold and diamonds, belong to the State and only the government of Sierra Leone can issue mining and export ...
Sierra Leone Gold Dredging Operation looking for JV partner
www.goldandsilvermines.com/amata.htm - Cached
An experienced American gold dredging operator needs $50k - $80k to begin mining in Sierra Leone. He has set up a corporation there with several partners ...
United Nations Volunteers: WFP food-for-training, Koidu, Sierra Leone
www.unv.org/en/current.../the.../photo-story-silver-and-gold.html - Cached
Silver and gold. Koidu, Sierra Leone: UNV volunteer Dodou Darboe from The Gambia is the WFP Head of Sub Office in Magburaka, Sierra Leone. ... When the door of a school is broken, you don't sit there and say 'oh, let them come and fix it! ...
Sierra Leone
library.thinkquest.org/J002335/SierraLeone/sierraleone.html - Cached
All throughout Sierra Leone, titanium ore, bauxite, iron ore, gold chromite, and ... Now that there are no more freed slaves entering Sierra Leone, children of the ...
[PDF]
ALL THAT GLITTERS IS NOT GOLD! Before buying gold dust in ...
photos.state.gov/.../sierraleone/.../...
File Format: PDF/Adobe Acrobat - Quick View
Before buying gold dust in Sierra Leone, please take a moment to read this ... Sierra Leone to exercise extreme caution before handing over any money. .... gold dealers all agree: There are no deals to be had in Sierra Leone's gold market. If it ...
Sierra Leone - mining (www.sierraeye.net) - YouTube
www.youtube.com/watch?v=xWuQc44Irzc10 min - Jan 25, 2007 - Uploaded by dbaldoni
Sierra Leone is a country rich in natural resources. ... i truelyhope a brighter future awaits sierra leone for it seems around such? large sums ...
More videos for Is there gold in Sierra Leone? »
Sierra Leone Gold Mining News - Mining Industry Today
mining.einnews.com/news/gold-mining/sierraleone - Cached
As with diamonds from Sierra Leone, Liberia and Angola in the 1990s, minerals ... There are also initiatives by the World Gold Council and jewellers' ...
Sell Diamonds From Sierra Leone Safely products, buy Sell ...
www.alibaba.com › ... › Jewelry › Loose Gemstone - Cached
In Sierra Leone, there is diamonds in large quantity. Sellers are ready to go through the control of GGDO (Government Gold and Diamond office) and under the ...
Saahiel Nishant in Sierra Leone - From the field stories - Life ...
www.ivoindia.org/stories/from-the-field/saahiel-nishant.asp - Cached
All this came true with one opportunity that I got, and, I struck gold! I was selected as a VSO volunteer to go to Sierra Leone and render my services there. ...
6 Plus Months Not
You said:
SNEY has how much Gold?
We don't know yet, however the value keeps going up.
As of 8/19/11 gold was priced at $1,852.60
500 troy ounces = $926,300
1000 troy ounces = $1,852,600
1500 troy ounces = $2,778,900
2000 troy ounces = $3,705,200
2500 troy ounces = $4,631,500
3000 troy ounces = $5,557,800
3500 troy ounces = $6,484,100
4000 troy ounces = $7,410,400
4500 troy ounces = $8,336,700
5000 troy ounces = $9,263,000
We have decent fundamentals. We will find just how decent our financials are when we get the 10K and then the 10 Qs.
Our leases in Sierra Leone and Ghana are definitely sound.
Our management team is well seasoned.
Great risk great reward, however as we move forward I see the risk going down.
What Are A Stock's "Fundamentals"?
Ben McClure
We hear the word "fundamentals" on an almost daily basis. On CNBC' s "Squawk Box", for instance, company CEOs come out and proclaim that their companies have good fundamentals. Analysts and fund managers are always talking about how this or that stock has strong fundamentals. In turn, there are some traders who proclaim that fundamentals don't actually matter and investors should rely on a stock's "technical" merits instead. All this talk about fundamentals is confusing.
What are they all talking about?
The Fundamentals of Fundamentals
In the broadest terms, fundamental analysis involves looking at any data, besides the trading patterns of the stock itself, that can be expected to impact the price or perceived value of a stock. As the name implies, it means getting down to basics. Unlike its cousin technical analysis, which focuses only on the trading and price history of a stock, fundamental analysis focuses on creating a portrait of a company, identifying the intrinsic, or fundamental, value of its shares and buying or selling the stock based on that information. (For a more in-depth look at fundamental analysis, check out the Fundamental Analysis Tutorial.)
Some of the indicators commonly used to assess company fundamentals include:
cash flow
return on assets
conservative gearing
history of profit retention for funding future growth
soundness of capital management for the maximization of shareholder earnings and returns
Think of the stock market as a shopping mall: stocks are the items for sale in the retail outlets. Technical analysts will ignore the goods for sale. Instead, they will keep an eye on the crowds as a guide for what to buy. So, if a technical analyst notices shoppers congregating inside a computer shop, he or she will try to buy as many PCs as possible, betting that the growing demand will push PC prices higher.
The Fundamental Approach
Fundamental analysts have a more staid approach. Their sights are set solely on the products in the mall. Shoppers are dismissed as an unreliable, emotional herd with no inkling of the real value of the goods for sale. Our fundamental analysts move slowly through the stores seeking the best deals. Once the crowd moves on from the PCs, they will take a closer look at the ones that were passed over.
Fundamental analysts might take a stab at determining the scrap value of the PC stripped down to its hard disk, memory cards, monitor and keyboard. In the stock market, this is akin to calculating the book value or liquidation price of a company. (For more on this valuation method, see Digging Into Book Value.)
Fundamental analysts will also take a very close look at the quality of the PC. Is it going to last, or will it break down within a year? The fundamental analysts will pore over the specifications, scrutinize the manufacturer's warranty and consult consumer reports. Similarly, equity analysts check a company's balance sheet for financial stability.
Then, the fundamental analysts might try to understand the performance of the PC in terms of, say, processing power, memory or image resolution. These are like the forecast earnings and dividends identified from a company's income statement. (To learn more, read Find Investment Quality In The Income Statement.)
Finally, the fundamental analysts will put together all the data and come up with an intrinsic value, or value independent of the current sale price. If the sale price is less than the calculated intrinsic value, the fundamentalists will buy PCs. If not, they will either sell the PCs they already own or wait for prices to fall before buying more.
Good Fundamentals Do Not Always Lead to Profits
Performing fundamental analysis can be a lot of hard work. But that is, arguably, the source of its appeal. By taking the trouble to dig into a company's financial statements and assess its future prospects, investors can learn enough to know when the stock price is wrong. These conscientious investors are able to spot the market's mistakes can make themselves money - a lot of it. At the same time, buying companies based on intrinsic, long-term value protects investors from the dangers of day-to-day market fluctuations.
However, the fact that fundamental analysis shows that a stock is undervalued does not guarantee that it will trade at its intrinsic value any time soon. Things are not so simple. In reality, real share price behavior relentlessly calls into question almost every stock holding, and even the most independently minded investor can start doubting the merits of fundamental analysis. There is no magic formula for figuring out intrinsic value.
When the stock market is booming, it is easy for investors to fool themselves into thinking they have a knack for picking winners. But when the market falls and the outlook is uncertain, investors cannot rely on luck. They actually need to know what they're doing.
Roll Up Your Sleeves and Get Dirty
There is much that the investor can do to learn about fundamentals. Investors who roll up their sleeves and tackle the terminology, tools and techniques of fundamental analysis will enjoy greater confidence in using financial information and, at the same time, will probably become better stock pickers. At the very least, investors will have a better idea of what is meant when someone recommends a stock on strong fundamentals.
Read more: http://www.investopedia.com/articles/fundamental/03/022603.asp#ixzz1VVdgQQ25
Agreed scubastevemd,
We are a public company and they have to eventually release some numbers on the product. Why it is taking so long is anybody's guess.
They are consistently late, however an update is on the way according the 08/03/2011 PR:
Please remember that Sierra Leone is still recovering from a brutal civil war. The likes of which produced the movie Blood Diamond.
Corruption is still alive and well and SNEY (AMS) has learned over the last few years how to operate in this environment. The need for secrecy and limited reporting may be necessary to protect our product and personnel.
I have reviewed some other Jr miners operating in the region and have yet to find one as diligent prepared, well organized and community oriented as SNEY. If anyone know of one, please let me know.
Our stock price does not reflect all what the company has extracted thus far as they have not reported. I took the information they provide and estimated (http://investorshub.advfn.com/boards/read_msg.aspx?message_id=66337668) what I thought how much gold they may have acquired. While this is certainly my opinion, the company has reported that dredging operations are really performing better than expected. Also this is the "GOLD" only. We still have the "REES" to price and the other "discreet product".
How much Gold was possibly captured by the company based on the two Dredging Operations updates?
The company started out getting 1.5 grams per ton of feed of visible gold and then ramped up to 3 grams per ton of feed of visible gold.
I used the average of 1.5 and 3 grams (2.25) for my calculations.
The company stated dredging on April 16, 2011 and reported in the 2nd update they had 40 tons of black sands concentrate stockpiled and projected another 40 tons by the end of June.
It would take only 800 tons of feed to get 40 tons of black sands concentrate. Doesn’t seem like a lot however they were learning while doing and making necessary adjustments to improve efficiency.
If they were getting 2.25 grams of visible gold per ton of feed and they had at least 800 tons of feed then I arrived at 1800 grams of Gold or 57.88 troy ounces of visible gold.
It is my belief that they removed the visible Gold. How else would they know at first they were getting 1.5 grams and then 3 grams per ton of feed?
The company believes that over 80% of the free gold remains in the black sands concentrate.
Where is the other 20%? I believe it is the visible Gold that was removed.
If 20% of the Gold = 57.88 troy ounces than the 80% percent = 231.52 troy ounces for a total of 289.4 troy ounces.
If they captured an additional 40 tons of black sands concentrate as projected then we may have 578.8 troy ounces of Gold.
We got a late start this year and are way off the goals in the executive brief; however we are on a way, improving as we go along.
05/24/2011 Update On Dredging Operations:
http://ih.advfn.com/p.php?pid=nmona&article=47803404
A decision to not stop the dredge for the cleaning of the sluice dramatically increased our production of the black sand and gold concentrate. We discovered that the sluice was only capturing about 20% of the free gold and 80% (or more) was going directly into the sump. We have modified the dredges so that closer to 100% now goes into the sump and we pump directly from the sump to an area adjacent to the river bank. The concentrates are then moved to our secure compound awaiting future processing. We have left the free gold, which may be substantial, in the black sand concentrate to be extracted under more secure conditions. We are now concentrating on production volume with the black sand/gold concentrates. One of the reports we received stated that there is twice as much concealed gold in the REEs so we wish to recover the most amount of gold under optimum conditions in one operation.
We are excited that there really is as much black sand being recovered, 100 pounds per ton of feed, as indicated in previous test results and we are constantly improving the dredge recovery profile to a point that the tandem operation allows for cleaner and more efficient recovery. The other exciting news is that the visible gold content remains strong. Now that we are getting the dredges dialed in, we look forward to increasing our production numbers."
06/13/2011 Update #2 On Dredging Operations:
http://ih.advfn.com/p.php?pid=nmona&article=48041270
"We are deep into the second month of dredging operations on our Pampana River Project in Sierra Leone. Production has increased daily for the past 3 weeks. Visible gold production is up, from 1.5 grams to 3 grams per ton of feed gravel. We are now recovering more than the estimated 100 lbs./ton of rare earth black sands concentrate from each ton of feed. Management believes that over 80% of the free gold remains in the black sands concentrate. We clean the sluice out at the end of each 10 hour shift. By the end of this week, we will have 40 tons of rare earth black sands concentrate stockpiled. 40 tons is the maximum allowed to fit in the 40 foot shipping container that we own in Freetown. Management projects that an additional 40 tons of Rare Earth black sand concentrates can be produced by the end of June.
From the Executive Brief:
http://www.sunergygold.com/sney_executive_briefing.pdf
PROJECT TIMING
Land Mining Equipment for set--up February 2011
Commence 300 tonnes per day processing by March2011
Achieve 600 tonnes per day processing by August 2011
Cash flow from bulk sampling within three months of landing equipment
Full production mining can commence as early as March 2011 when production volume should reach approximately 300 tonnes per hour for each operation.
This should produce an annual gross return (‘au’ @ $1,000 per ounce) of $10,000,000 to $15,000,000 per project. Production should ramp up to 600 tph in each case within the first 6 months. Sunergy has several former producing mines and numerous Artisan pits along the Offin River which will be worked for the 60+% of the gold left behind by the Artisans. With the Sierra Leone acquisition moving into production, the combined operation will begin in Quarter 1 of 2011 at an initial rate of 2,000 – 3,000 ounces per month stabilizing @ 3,000/month over quarter 3 and 4 for the first year. Once stabilized, the Company will add 1 gravity/wash plant during Quarter 3 and 4 in each of the next two years increasing production by 36,000 ounces per year for each operation. The Company anticipates growing annual production to over 100,000 oz/year which results in projected earnings of $20,000,000 -- $30,000,000 per year using $1,000/ oz. gold price.
2011 2012 2013 2014 2015
Total Material Processed (000’s t) 150 250 500 750 750
Gold Recovered (000’s oz) 22 36 72 100 100
Revenue (000’s US$) 19000 32000 64000 90000 90000
Permitting, Development & Production Capital
(000’s US$) (1000) (1000) (1000) (1000) (1000)
Net Cashflow (000’s US$) 6,700 11,600 24,200 34,000 34,000
Canadian mining equipment manufacturer RMS Ross is in the process of designing recovery and separation circuits based on analysis and specific composition of heavy sands(REE’s). Terry Plummer, RMS Ross President says:
Where are our resident predictors?
Why is the market tumbling and SNEY going up?
Can I get some answers?
I'm just don't understand
scubastevemd,
It has been AMS plan and now the SNEY plan adopted from AMS to grow the company.
Even with the amount of shares we have, as long as SNEY extract their products the stock price will respond.
It will do even better if the price of Gold continues to rise.
We had a short dredging season this year and according to the company the results were better than expected.
What the means is yet to be seen by us shareholders.
Check out their lofty goals:
http://www.sunergygold.com/sney_executive_briefing.pdf
While they didn't meet all their targets, it makes for a good road map for where they like to travel to.
PROJECT TIMING
Land Mining Equipment for set--up February 2011
Commence 300 tonnes per day processing by March2011
Achieve 600 tonnes per day processing by August 2011
Cash flow from bulk sampling within three months of landing equipment
Full production mining can commence as early as March 2011 when production volume should reach approximately 300 tonnes per hour for each operation.
This should produce an annual gross return (‘au’ @ $1,000 per ounce) of $10,000,000 to $15,000,000 per project. Production should ramp up to 600 tph in each case within the first 6 months. Sunergy has several former producing mines and numerous Artisan pits along the Offin River which will be worked for the 60+% of the gold left behind by the Artisans. With the Sierra Leone acquisition moving into production, the combined operation will begin in Quarter 1 of 2011 at an initial rate of 2,000 – 3,000 ounces per month stabilizing @ 3,000/month over quarter 3 and 4 for the first year. Once stabilized, the Company will add 1 gravity/wash plant during Quarter 3 and 4 in each of the next two years increasing production by 36,000 ounces per year for each operation. The Company anticipates growing annual production to over 100,000 oz/year which results in projected earnings of $20,000,000 -- $30,000,000 per year using $1,000/ oz. gold price.
2011 2012 2013 2014 2015
Total Material Processed (000’s t) 150 250 500 750 750
Gold Recovered (000’s oz) 22 36 72 100 100
Revenue (000’s US$) 19000 32000 64000 90000 90000
Permitting, Development & Production Capital
(000’s US$) (1000) (1000) (1000) (1000) (1000)
Net Cashflow (000’s US$) 6,700 11,600 24,200 34,000 34,000
Management
The management team including the Directors and Advisory board members have more than 125 years of mining industry experience with junior and mid-tier companies involved in exploration, development and production of precious metals. We are in the process of expanding our Board to ( between 5 to 7) to include Allied’s Management and have an Audit committee in place comprising of outside independent directors. The team consists of:
Karl A. Baum, President and Director
•Over 5 years direct experience in mining in Ghana operating @ 7,000 tons/day
•Educated at ASU and Thunderbird School of Global Management
•Has developed large Scale contracts throughout the west Africa region
P.K. Rana Medhi, Chairman of The Board, Director
•Over 40 years of experience in the mining industry; including 28 years with Cyprus Amax Minerals
•Registered Mining and Engineering Geologist working as an Independent Consultant
•Chairman of the Board of Governors of the Arizona Department of Mines and Mineral Resources.
Robert A. Levich, CPG, PG, EurGeol, FSEG, FSGA, Director
•31 years with US Department of Energy (DOE)-headed up famous Yucca Mountain Project
•Now resides in Ghana with wife which offers hands on management of Company projects
•Enjoys substantial business and geological contacts in Ghana.
Stephen B. Parent, Advisory Board Member
•Over 30 years of experience in the mining industry with 2 mines put into production.
•Managed the exploration ,development and production of junior public mining companies.
•Founder of General Metals Corporation currently putting gold and silver mine in production.
Paul Haber, MBA, Advisory Board Member
•Financial Advisor, Hedge Fund Manager
• Financed turn around for gold company with well known Equity Fund
• More than 10 years business financing experience
Ne Ne Agbonoo Abasi III, Advisory Board Member
•Regional Chief of Royal Kabiawertsu Divisional Council of Ada in the greater Accra District
•Educated in Ghana, Gambia and UK receiving the ACCA degree in accounting.
•More than 10 years in alluvial gold mining in Ghana with local business connections.
Kerry Bjornson, Advisory Board Member
•20 years of experience in the mining industry.
•Contract Mine construction in US for gold, silver and copper.
•Chief Executive Officer, Gold Canyon Mining and Construction.
A big bounce, ounce by ounce, as gold takes off
Aug 17, 4:03 PM (ET)
http://apnews.excite.com/article/20110817/D9P61T7O0.html
By SARAH DiLORENZO
Background Note: Sierra Leone
http://www.state.gov/r/pa/ei/bgn/5475.htm
Economy
GDP (2009): $2.0 billion.
Real GDP growth rate (2010): 5%.
Inflation rate (2010, Consumer Price Index): 16.8%.
Exchange rate: U.S. $1 = 4,200 SLL (Leones).
Total external debt (2010): $767.9 million (10% increase over 2009), of which commercial debt is $231.5 million and bilateral debt is $60.8 million (China 39%, Kuwait 35%, India 23%, Saudi Fund 3%).
Budget deficit (2010): 6.9% of GDP.
Natural resources: Diamonds, titanium ore (rutile), bauxite, gold, iron ore, ilmenorutile, platinum, chromite, manganese, cassiterite, molybdenite, as well as forests, abundant fresh water, and rich offshore fishing grounds.
Agriculture: Products--coffee, cocoa, ginger, palm kernels, palm oil, cassava, bananas, citrus, peanuts, cashews, plantains, rice, sweet potatoes, vegetables, cattle, pigs, poultry, sheep, fish. Land--30% potentially arable, 9% cultivated.
Industry: Types--diamond mining; small-scale manufacturing (beverages, textiles, cigarettes, footwear); bauxite and rutile mining; forestry; fishing; flour; cement and other construction goods; petroleum refining; plastics; small commercial ship repair; tourism (31,271 visitors in 2010).
Trade (2010): Exports--$341.2 million: diamonds, rutile, bauxite, coffee, cocoa, fish. Major destinations of exports (2009, Economist Intelligence Unit--EIU)--Belgium 28.4%, U.S. 12.7%, Netherlands 8.5%, U.K. 7.9%, India 7.2%. Imports--$770 million: fuel and lubricants, rice and other foodstuffs, machinery and equipment, chemicals, pharmaceuticals, building materials, light consumer goods, used clothing, textiles. Main origins of imports--South Africa 23.2%, China 12.1%, U.S. 9.3%, Cote d’Ivoire 9%, India 8.3%.
Country profile: Sierra Leone
http://news.bbc.co.uk/2/hi/africa/country_profiles/1061561.stm
Sierra Leone, in West Africa, emerged from a decade of civil war in 2002, with the help of Britain, the former colonial power, and a large United Nations peacekeeping mission.
More than 17,000 foreign troops disarmed tens of thousands of rebels and militia fighters. Several years on, the country still faces the challenge of reconstruction.
Overview
A lasting feature of the war, in which tens of thousands died, was the atrocities committed by the rebels, whose trademark was to hack off the hands or feet of their victims.
Politics: Sierra Leone is recovering from a 10-year civil war which ended in 2002; war centred around a power struggle and had a regional dimension
Economics: Substantial growth in recent years, but Sierra Leone remains bottom of UN's league for human development
Timeline
A UN-backed war crimes court was set up to try those, from both sides, who bear the greatest responsibility for the brutalities. It completed its work at the end of 2009. Its remaining case, the trial of Charles Taylor, continues in The Hague.
Sierra Leone has experienced substantial economic growth in recent years, although poverty and unemployment remain major challenges.
In September 2010, the UN Security Council lifted the last remaining sanctions against Sierra Leone saying the government had fully re-established control over its territory, and former rebel fighters had been disarmed and demobilised.
Economic recovery has been slow partly because the reconstruction needs are so great. Around half of government revenue comes from donors.
The restoration of peace was expected to aid the the country's promotion as a tourist destination in the long term. Sierra Leone boasts miles of unspoilt beaches along its Atlantic coast, and hopes to emulate its neighbour Gambia in attracting tourists.
Sierra Leone is also rich in diamonds and other minerals. The trade in illicit gems, known as "blood diamonds" for their role in funding conflicts, perpetuated the civil war. The government has attempted to crack down on cross-border diamond trafficking.
Sierra Leone has a special significance in the history of the transatlantic slave trade. It was the departure point for thousands of west African captives. The capital, Freetown, was founded as a home for repatriated former slaves in 1787.
Facts
Full name: Republic of Sierra Leone
Population: 5.7 million (UN, 2009)
Capital: Freetown
Area: 71,740 sq km (27,699 sq miles)
Major languages: English, Krio (Creole language derived from English) and a range of African languages
Major religions: Islam, Christianity
Life expectancy: 46 years (men), 49 years (women) (UN)
Monetary unit: Leone
Main exports: Diamonds, rutile, cocoa, coffee, fish
GNI per capita: US $320 (World Bank, 2008)
Internet domain: .sl
International dialling code: +232
A little background on Sierra Leone
http://en.wikipedia.org/wiki/Sierra_Leone_Civil_War
The Sierra Leone Civil War began on 23 March 1991 when the Revolutionary United Front (RUF), with support from the special forces of Charles Taylor’s National Patriotic Front of Liberia (NPFL), intervened in Sierra Leone in an attempt to overthrow the Momoh government, sparking a gruesome 11-year civil war that enveloped the country and left over 50,000 dead.[1]
During the first year of the war, the RUF took control of large swathes of territory in Eastern and Southern Sierra Leone rich in alluvial diamonds. The government's ineffective response to the RUF and the disruption in government diamond production precipitated a military coup d'état in April 1992 by the National Provisional Ruling Council (NPRC).[2] By the end of 1993 the Sierra Leone Army (SLA) had succeeded in pushing the RUF rebels back to the Liberian border, but the RUF recovered and fighting continued. In March 1995, Executive Outcomes (EO), a South Africa-based private military company, was hired to repel the RUF. An elected civilian government was installed in March 1996 and the retreating RUF signed the Abidjan Peace Accord. However, the government, under UN pressure, terminated its contract with EO before the accord could be implemented and hostilities recommenced.[3][4]
In May 1997 a group of disgruntled SLA officers staged a coup and established the Armed Forces Revolutionary Council (AFRC) as the new government of Sierra Leone.[5] The RUF joined with the AFRC to capture Freetown with little resistance. The new government, led by Johnny Paul Koroma, declared the war officially over, and a wave of looting, rape, and murder followed the announcement.[6] Reflecting international dismay at the overturning of the civilian government, ECOMOG forces intervened and retook Freetown on behalf of the government, but they found the outlying regions more difficult to pacify.
In January 1999 world leaders intervened diplomatically to promote negotiations between the RUF and the government.[7] The Lome Peace Accord, signed on 27 March 1999, was the result. Lome gave Foday Sankoh, the commander of the RUF, the vice presidency and control of Sierra Leone's diamond mines in return for a cessation of the fighting and the deployment of a UN peacekeeping force to monitor the disarmament process. However, RUF compliance with the disarmament process was inconsistent and sluggish, and by May 2000 the rebels were advancing upon Freetown once again.[8] The British intervened to save the flailing UN mission and the weak government of President Ahmad Tejan Kabbah. With help from a renewed UN mandate and Guinean air support, the British Operation Palliser finally defeated the RUF. On 18 January 2002, President Kabbah declared the Sierra Leone Civil War officially over.
About Parent or anyone affiliated with SNEY.
It don't matter where they came from, what the did, who they did it too.
What matters is production and results.
The company laid out some hefty plans.
Can they deliver?
It is yet to be seen.
We know that they have pulled gold/rees/ui object out o fthe Pampana river.
How much has not been reported yet.
They are making a move on Ghana operations.
Exactly what they are doing there has not been reported yet.
For one to say this or that is hearsay whether it came from Parent's mouth of Dale or whomever unless it jives with what was officially reported.
What matters to the marketplace and eventually the stock price is what they release in a PR or SEC Report.
So again I say we wait to hear from the company.
They will release something one day. It may be a SEC report or a Press Release. It may be good, bad or ugly.
Using what they have released thus far it is of my very humble opinion when they release the productions numbers, many will be surprised if not shocked just like when UCONN won the NCAA National Championship.
Unreal
Unbelievable
Incredible
Now he question I leave one with is it going to Good, Bad or Ugly or none of the above?
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 in Ghana, West Africa and the 140.1 sq. km. Pampana River Rare Earth, Gold and Diamond concession in Sierra Leone, West Africa. We are currently operating dredges on the Pampana Project. We are production and acquisition oriented and are considering several additional projects suitable for near term production in West Africa.
The bottom line for SNEY is Gold, GOld, GOLd, GOLD.
All the earlier reports were about the Gold and a minor mention of diamonds.
The focus is to get the Gold out the river, flanks and terraces.
The REES present and added value came at a later time and may surpass the value of the gold.
We wait for further information from the company.
SNEY has a plan for the Gold and REES from the Black Sands.
The who, what, when, where and how is up to the company to reveal. Some of which have been revealed SNEY's website.
Please visit the Sunergy website www.sunergygold.com and review further information such as Company Reports under Projects , Previous Press Releases and SEC filing information under Investor Info.
If anyone have specific questions for SNEY please contact:
Bryan Miller, President 707.738.4280 bryan@alliedminingandsupply.comSunergy Inc.14362 N. FRANK LLOYD WRIGHT BLVD | SCOTTSDALE AZ 85260Phone: 480.477.5810 | Fax: 480.477.5811
Investor Relations:
Steve Parent 480.399.7222 steve@sunergygold.com
SOURCE Sunergy, Inc.
Background on Allied Mining & Supply Ltd. (AMS) continued
Allied Mining & Supply Ltd.
July 2009
2044 Second Street Napa, California 94559 USA 7077384280 and 7077585859
alliedminingandsuppply.com Sierra Leone 01123233286112
__________________________________________
INVESTORS - INVESTMENT SUMMARIES
http://www.alliedminingandsupply.com/investors.html
Allied Mining & Supply Ltd., offers various opportunities for our investors and principal partners. Please refer to the links below to download our Four-Phase Development Plan and Joint Venture Opportunities that are available with AMS. _______________________________________
EXECUTIVE SUMMARY
Allied Mining & Supply Ltd. (AMS Ltd.), a Sierra Leonean corporation, is actively conducting exploration, dredging and bulk sampling operations in Sierra Leone on a section of our concession territory of 140.1 square kilometers on the Pampana River. We are currently seeking a limited number of joint venture partners to expand our activities within the prospect area in order to effect a more rapid recovery of the licensed mineral resources. Preliminary indications and extrapolations from available reports indicate aggregate recoverable alluvial gold deposits at an estimated 1,000,000 ounces within the river channel and along the river banks and benches. A fully-funded exploration operation (Phase III of this plan) is required in order to more precisely estimate recoverable values. However, formal reports based on prior testing and exploration undertaken by a qualified party estimate 500,000 ounces of recoverable gold within a section of 40.1 square kilometers within the total prospect area. The remaining contiguous 100 square kilometers is assumed to contain at least that quantity of recoverable gold due to its similar proximity to likely primary ore deposits and location within the same mineral transport/concentration area. Again, further exploration is required to verify this assumption.
A Nevada Limited Liability Company (Allied Mining and Supply, LLC) has been formed to act as the holding company for AMS Ltd. and other exploration, mining and development ventures in Africa. The Company is currently open to negotiations for a joint venture arrangement for the principal purpose of new mining for gold in alluvial deposits which by value contain predominantly gold with detectable amounts of silver and palladium group metals.
Initial testing and historical data indicate gold concentrations ranging from 1 to 18 grams per ton of material. Fire assays conducted in Freetown show the gold purity at 89%. Tests of dredge concentrate undertaken at a US lab show significant strategic metal content in possible commercial quantities. AMS Ltd. fully intends to exploit all concentrate and is evaluating offers from European and US-based refineries interested in receiving the concentrate. Alluvial gem recovery is also anticipated but not the focus of operations.
Parties to any agreement with AMS Ltd. should wish to cooperate to increase business opportunities for each party, avoid exploration and acquisition conflicts, and share technical, professional and administrative services for the mutual benefit of both parties. It is also imperative that all of our operations include development opportunities for the local communities. AMS Ltd. has made great progress in fostering good relations with local chiefs, politicians and villagers by undertaking a variety of projects including the installation of solar panels at locations of community importance, town cleanup projects, and assistance with drinking water programs. With the assistance of UN personnel, we also intend to explore
biomass and micro-hydro projects for village electrification.
Allied Mining & Supply has a professional relationship with a US-based mining equipment manufacturer and is in a position to expedite the shipment, installation and management of
alluvial recovery systems including dredges, wash plants, gravel pumps, and all ancillary clean-up and processing equipment. We can arrange all necessary equipment through our
manufacturer and consulting associates once we have determined exact requirements. We have arranged for security to be provided by private contractors.
Independent consultants with experience in Sierra Leone are available to verify the AMS Ltd. concession claims, identify suitable mining sites and assist in demarcation of these sites with the local mining officials prior to deployment of production dredges. AMS is currently in negotiations with MineEx to provide contracting and expert consulting services for our short and long-term exploration, river mapping, geophysics, river dredging
and land mining operations. MinEx has extensive global alluvial mining experience including prior operations in Sierra Leone and significant exposure to the politics and geomorphology
of West Africa.
GROWTH STRATEGY
Four-Phase Concession Development Program
Phase One
November 2008 - June 2009
Listed below in bullet form are the achievements and milestones carried out to date by AMS
personnel in approximate chronological order:
• Secured all relevant mining and export licenses and business permits, November 2008
• Conducted preliminary needs assessment on renewable energy options
• Identified prospect opportunities with help of Ministry of Mines and state Geology
offices
• Imported prospecting dredge and portable concentrators, January 2009
• Established local approvals and support of local and Paramount chiefs
• Conducted prospecting and dredging of multiple sites
• Negotiated for redefining prospect boundaries along Pampana to include more
economically viable mining sites and to increase prospect size by 100 square
kilometers, from 40.1 to 140.1 square kilometers
• Completed community goodwill solar panel installations
• Installed solar street light (first in the province) at the Magbuarka town center as part
of “clean up and light up” effort
• Received personal recognition from President Koroma for goodwill and development
efforts
• Letters of appreciation for AMS development projects from
Honorable Mohamed
Albert Tarawallie, MP and Councillor Abdul P. Larkoh, Tonkolili District Office,
Chairman Mineral Resosurces
• Newspaper article favorably referred to AMS as a “giant” in Sierra Leone
•Began process for establishing formal business and cultural exchange between Napa, CA and Magburaka
Concession application (EPL) approved by Ministry of Mines
Phase Two
July 2009 to January 2010
In this Proof of Concept phase, AMS Ltd. will undertake further river profiling with MineEx Resonance Acoustic Profiling (RAP) and Submerged Bottom Profiling (SBP) for river bottom and bedrock definition; initiate prospecting and bulk sampling through deployment of a number of 8-inch river dredges and portable wash plants; begin test trenching on banks, benches and flats; demarcate areas for immediate mining; further evaluate concentrates and secure pipeline for strategic minerals export; possibility for early deployment of ten inch cutter head dredge on a contract or joint venture basis.
Continue with community development programs that enhance and sustain AMS Ltd. host communities involving health, infrastructure improvement, education, training and business development. Work with UNFAO, local and Western organizations to determine biomass and renewable energy options for Tonkolili District.
Phase Two capital required: $650,000 to $1,000,000
Phase Three
February 2010
Commencement of significant expansion of exploration and prospecting activities begun in Phase One. Full scale mining undertaken in terraces and flats; continuation of bulk sampling; expanded geophysics work on the Pampana to identify targets for dredging with state of the art, high-volume commercial scale dredge. This phase would include the additional equipment deployment of one cutter head dredge, land dredges, all ancillary equipment and support infrastructure, additional eight-inch suction dredges, a production land dredge facility and operating costs for one year.
AMS Ltd. will continue its community engagement efforts and begin land reclamation undertaken in cooperation with local government and Western NGO’s. When successful, AMS will have involvement in both the agricultural and energy sectors through biomass, micro-hydro, and other appropriate renewable technologies.
Phase Three capital required: up to $10 million
Phase Four
Company will make the decision based on availability of capital through cash flows from operations or through monetization of reserves to proceed with development of the broader prospect area including the exploitation of any identified hard rock and gemstone (diamond) resources.
JOINT VENTURES
Concurrent with Phase Two, AMS Ltd. will entertain a limited number of joint venture (non-equity) mining opportunities for groups interested in controlling a licensed dredging and mining operation. These JV programs require a minimal initial investment of $450,000. We have structured these JV opportunities so that our partners control expenditure of all funds and retain ownership of all equipment.
We would also expect any JV arrangement to include non-competition agreements respecting certain activities of both groups and would expect to enter into a services agreement respecting the provision of certain services by AMS Ltd. in the acquisition and deployment of mining equipment and mining service companies.
CONCLUSION
This is a very exciting time in Sierra Leone. Uncertain global economic conditions suggest that gold prices could remain high for the foreseeable future as investors seek safe havens for capital. AMS has made great efforts to secure the goodwill of the local communities by demonstrating our ability and willingness to provide development, capacity building and economic opportunity for the people of Sierra Leone. AMS has put together the foundation for one of the largest gold mining companies in the country by building the relationships and successfully performing the preliminary work necessary to make this a reality.
END
Background on Allied Mining & Supply Ltd. (AMS) continued
VISION / PHILOSOPHY
Allied Mining and Supply Ltd., was incorporated in November 2008 in Sierra Leone, West Africa. The Company obtained mining and dredging licenses in December 2008, and January 2009 respectively. The Company holds a gold export license and the principle shareholders (American citizens) of Allied Mining and Supply Ltd. are legal immigrants in Sierra Leone with permission to engage in mining activities anywhere within the country. Our Sierra Leonean partner has spent over 40 years in mining and government service. His dedication to the AM&S business model is based on his belief in our corporate philosophy of putting the people and communities of Sierra Leone as priorities.
In December 2008 the Company applied for an exploration license on a 40.18 square kilometer property along the right bank of the Pampana River in Tonkolili District. The company is actively managing a 25-acre alluvial gold mining operation and dredging platform within the prospect application area. According to the Sierra Leone Minister of Mineral Resources, the Allied Mining and Supply application is to be approved within the month of May at which point the company intends to expand mining and dredging operations and begin leasing parcels of the prospect area to third parties.
Studies indicate the value of the recoverable alluvial gold from terrace gravels and river channel dredging is conservatively estimated at $250,000,000 using a current gold spot price of $800 per ounce. (geology report, Geo Resources, A. Mahdi, August, 2003)
Alluvial diamond recovery and hard rock mining opportunities are also available within the exploration application area and are excluded from the above estimate.
It is important to understand the importance of relationship building in West Africa. This area is made up of some of the poorest countries in the world that fall at the very bottom of the Human Development Index (HDI). Bourassa and Miller have been on the ground in Sierra Leone and quickly came to realize that what the people of the mining areas need most is development assistance in the form of electrical power generation and Western management techniques. Towards this end, AM&S will leverage its expertise and connections in the solar power, renewable energy industry and international NGOs in order to bring needed electrical power and other development programs to the areas in which AM&S is actively engaged in mining operations.
MANAGEMENT STRATEGY
Allied Mining & Supply Ltd., has developed an exploration and mining management strategy that is based on the following core operating principals:
Use of appropriate and state-of-the-art technology
Achieving efficiencies through site targeting
Maintaining and fostering relationships with local
government and professionals
Cultivating close collaboration with equipment
manufacturers and suppliers
Training local workers in procedures, safely and security
Setting examples through development of shareholder return
Allied Mining & Supply Ltd., conducts its operations in accordance with local laws and customs. The equipment we deploy in Sierra Leone is designed to be highly portable, durable, cost effective, efficient, easy to maintain and repair, and environmentally sound. We will continue this model of operating efficiency in both exploration and mining.
When practical, AMS will utilize the services of local mining consultants, equipment suppliers, geologist and other professionals. When non-local consultants are brought in to perform fee for service, we will endeavor to facilitate knowledge transfer and training to our local partners and workers. AMS is committed to long-term relationships with our host communities.
Background on Allied Mining & Supply Ltd. (AMS)
http://www.alliedminingandsupply.com/index.html
Allied Mining & Supply Ltd. (AMS) is unlike any other exploration, mining & dredging operation in Sierra Leone. We understand the value and importance of relationship building in West Africa and approach our exploration and mining ventures in a spirit of mutual cooperation and benefit. AMS personnel have been very active in working with Federal, Regional and local government agencies as well as local landowners and businessmen in order to assure AMS success. Working in a cooperative spirit alongside the good people of Sierra Leone is a long-term proposition for AMS and we look forward to providing opportunities for all of our stakeholders. We feel very fortunate and privileged to be working in a country as rich in mineral resources as is Sierra Leone.
At AMS we view our mining operations as not only a business opportunity but as the means of extracting the enabling resources that will provide significant shareholder return as well as affording needed development opportunities for the communities in which we are engaged. Our investment in exploration activities provides jobs, training, and a connection to a variety of capacity-building resources that go well beyond mining.
AMS will continue to leverage our expertise and connections in the solar power, renewable energy industry, and international NGOs in order to bring needed electrical power and other development programs to the areas in which AMS is actively engaged in mining operations.
Our business model is based on the corporate philosophy that the communities are priority. We understand that a continued “dependency model” of development is no solution to poverty in any country or location. Direct Foreign Investment and the creation of small business ownership is the long-term answer to development challenges such as those faced by many African nations. The government of Sierra Leone provides the business environment to make this happen and we encourage other companies to explore the possibilities of investing in Sierra Leone.
The Investor vs. Speculator
Why Stocks Become Over / Under Valued
http://beginnersinvest.about.com/od/undervaluedovervalued/a/investor-vs-speculator.htm
Over the course of the past several decades, the term "investor" has been used for anyone who owns a share of stock. It is important that you understand this is not the case. When a person buys a stock, they are doing it as one of two people: either an investor or a speculator.
What's the difference? An investor is someone who carefully analyzes a company, decides exactly what it is worth, and will not buy the stock unless it is trading at a substantial discount to its intrinsic value. They are able to say, for example, that "Company 'X' is trading for $48 per share, but it is worth $62 per share." They make their investment decisions based on factual data and do not allow their emotions to get involved. A speculator is a person who buys a stock for any other reason. Often, they will buy shares in a company because they are "in play" (which is another way of saying a stock is experiencing higher than normal volume and its shares may be being accumulated or sold by institutions). They buy stock not on the basis of careful analysis, but on the chance it will rise from any cause other than a recognition of its underlying fundamentals. Speculation itself is not necessarily a vice, but its participants must be absolutely willing to accept the fact that they are risking their principal. While it can be profitable in the short term (especially during bull markets), it very rarely provides a lifetime of sustainable income or returns. It should be left only to those who can afford to lose everything they are putting up for stake.
How do these two different types of activity affect stock price? The speculator will drive prices to extremes, while the investor (who generally sells when the speculator buys and buys when the speculator sells) evens out the market, so over the long run, stock prices reflect the underlying value of the companies. If everyone who bought common stocks were an investor, the market as a whole would behave far more rationally than it does. Stocks would be bought and sold based on the value of the business. Wild price fluctuations would occur far less frequently because as soon as a security appeared to be undervalued, investors would buy it, driving the price up to more reasonable levels. When a company became overpriced, it would promptly be sold. Speculators on the other hand, are the ones who help create the volatility the value investor loves. Since they buy securities based sometimes on little more than a whim, they are apt to sell for the same reason. This leads to stocks becoming dramatically overvalued when everyone is interested and unjustifiably undervalued when they fall out of vogue. This manic-depressive behavior creates the opportunity for us to pick up companies that are selling for far less than they are worth.
This leads to a fundamental belief among value investors that although the stock market may, in the short-term, wildly depart from the fundamentals of a business, in the long-run the fundamentals are all that matter. This is the basis behind the famous Ben Graham quote "In the short-term the market is a voting machine, in the long-term, a weighing one." Sadly, some reject this basic principle of the stock market. Several months ago, I received an email from a reader who asserted that "the economic fundamentals of a company have no relation to the stock price." This is completely false. My response was a simple message that read "If fundamentals don't matter, what if Coca-Cola never sold another bottle of Coke? How long do you think the stock price would stay at its current level?" When put in this light, the folly of the "fundamentals don't matter" becomes evident. The next time someone preaches this, simply ask "what happens to the stock if the company can't make its payments and defaults on its loans?" When they answer "it goes bankrupt", simply smile and walk away. Fundamentals do matter.
Unfortunately, countless investors believe the myth this gentleman does. The perfect example of this is the dot-com boom of the late 1990's. Companies that generated no profit and had very little, if any, book value were selling at astronomical levels. "Surely this would prove that fundamentals mean nothing," some would argue. On the contrary, it proves our point entirely. Only a few short years after the initial stock market bonanza, the economic realities of these companies came back to haunt them. Most fell 90% or more from their highs, with many more going bankrupt, ultimately worth less than the paper their stock certificates were printed on.
Mr. Market
Why Stocks Become Over / Under Valued
http://beginnersinvest.about.com/od/undervaluedovervalued/a/mr-market-benjamin-graham.htm
As I've made clear in these essays, an investor should treat each of his or her stock purchases as if they were going to buy the entire company. In most cases, you don't need to worry about the economy or even the stock market as a whole. The only requirements of a relatively successful investor are the ability to value a business and the right psychological approach to stock prices. We are going to firmly establish the second of these valuable skills in this portion by explaining the concept of Ben Graham's "Mr. Market". This relatively simple metaphor will forever change the way you look at stock prices, and if employed correctly, increase your investment returns noticeably.
The concept of Mr. Market goes something like this: imagine you are partners in a private business with a man named Mr. Market. Each day, he comes to your office or home and offers to buy your interest in the company or sell you his [the choice is yours]. The catch is, Mr. Market is an emotional wreck. At times, he suffers from excessive highs and at others, suicidal lows. When he is on one of his manic highs, his offering price for the business is high as well, because everything in his world at the time is cheery. His outlook for the company is wonderful, so he is only willing to sell you his stake in the company at a premium. At other times, his mood goes south and all he sees is a dismal future for the company. In fact, he is so concerned, he is willing to sell you his part of the company for far less than it is worth. All the while, the underlying value of the company may not have changed - just Mr. Market's mood.
The best part of this entire arrangement: you are free to ignore him if you don't like his price. The next day, he'll show up at your door with a new one. For your interest, the more manic-depressive he is, the more opportunity you will have to take advantage of him [don't worry, he doesn't have feelings or mind being taken advantage of.] As long as you have a strong conviction of what the company is really worth, you will be able to look at Mr. Market's offers and reject or accept them... the choice is yours.
This is exactly how the intelligent investor should look at the stock market - each security that is traded is merely a part of a business. Each morning, when you open up the newspaper or turn on CNBC, you can find Mr. Market's prices. It is your choice whether or not to act on them and buy or sell. If you find a company that he is offering for less than it is worth, take advantage of him and load up on it. Surely enough, as long as the company is fundamentally sound, one day he will come back under the sway of a manic high and offer to buy the same company from you for a much higher price.
By thinking of stock prices in this way - as mere quotes from an emotionally unstable business partner - you are free from the emotional attachment most investors feel toward rising and falling stock prices. Before long, when you are looking to buy stock you will welcome falling prices. The only time you want to invite high stock prices is when you are eager to sell your securities for some reason. Thankfully, in most cases [except those caused by "Life" which we discussed earlier], you are free to wait out Mr. Market's emotional roller coaster until he offers a price that you consider equal to or higher than intrinsic value. This is perhaps your greatest advantage in your investments.
One can say whatever they want about SNEY, however when measuring SNEY success against their stated goals, one has to come to a conclusion that SNEY has met some goals although they didn't meet the timelines.
Based on my previous post (link back) SNEY has some lofty and aggressive goals :
Mugwumps88,
In response to your request, I found this info in Sunergy's Executive Brief:
http://www.sunergygold.com/sney_executive_briefing.pdf
While they didn't meet all their targets, it makes for a good roadmap for where they like to travel to.
PROJECT TIMING
??Land Mining Equipment for set--up February 2011
??Commence 300 tonnes per day processing by March2011
??Achieve 600 tonnes per day processing by August 2011
??Cash flow from bulk sampling within three months of landing equipment
Full production mining can commence as early as March 2011 when production volume should reach approximately 300 tonnes per hour for each operation.
This should produce an annual gross return (‘au’ @ $1,000 per ounce) of $10,000,000 to $15,000,000 per project. Production should ramp up to 600 tph in each case within the first 6 months. Sunergy has several former producing mines and numerous Artisan pits along the Offin River which will be worked for the 60+% of the gold left behind by the Artisans. With the Sierra Leone acquisition moving into production, the combined operation will begin in Quarter 1 of 2011 at an initial rate of 2,000 – 3,000 ounces per month stabilizing @ 3,000/month over quarter 3 and 4 for the first year. Once stabilized, the Company will add 1 gravity/wash plant during Quarter 3 and 4 in each of the next two years increasing production by 36,000 ounces per year for each operation. The Company anticipates growing annual production to over 100,000 oz/year which results in projected earnings of $20,000,000 -- $30,000,000 per year using $1,000/ oz. gold price.
2011 2012 2013 2014 2015
Total Material Processed (000’s t) 150 250 500 750 750
Gold Recovered (000’s oz) 22 36 72 100 100
Revenue (000’s US$) 19000 32000 64000 90000 90000
Permitting, Development & Production Capital
(000’s US$) (1000) (1000) (1000) (1000) (1000)
Net Cashflow (000’s US$) 6,700 11,600 24,200 34,000 34,000
Management
The management team including the Directors and Advisory board members have more than 125 years of mining industry experience with junior and mid-tier companies involved in exploration, development and production of precious metals. We are in the process of expanding our Board to ( between 5 to 7) to include Allied’s Management and have an Audit committee in place comprising of outside independent directors. The team consists of:
Karl A. Baum, President and Director
•Over 5 years direct experience in mining in Ghana operating @ 7,000 tons/day
•Educated at ASU and Thunderbird School of Global Management
•Has developed large Scale contracts throughout the west Africa region
P.K. Rana Medhi, Chairman of The Board, Director
•Over 40 years of experience in the mining industry; including 28 years with Cyprus Amax Minerals
•Registered Mining and Engineering Geologist working as an Independent Consultant
•Chairman of the Board of Governors of the Arizona Department of Mines and Mineral Resources.
Robert A. Levich, CPG, PG, EurGeol, FSEG, FSGA, Director
•31 years with US Department of Energy (DOE)-headed up famous Yucca Mountain Project
•Now resides in Ghana with wife which offers hands on management of Company projects
•Enjoys substantial business and geological contacts in Ghana.
Stephen B. Parent, Advisory Board Member
•Over 30 years of experience in the mining industry with 2 mines put into production.
•Managed the exploration ,development and production of junior public mining companies.
•Founder of General Metals Corporation currently putting gold and silver mine in production.
Paul Haber, MBA, Advisory Board Member
•Financial Advisor, Hedge Fund Manager
• Financed turn around for gold company with well known Equity Fund
• More than 10 years business financing experience
Ne Ne Agbonoo Abasi III, Advisory Board Member
•Regional Chief of Royal Kabiawertsu Divisional Council of Ada in the greater Accra District
•Educated in Ghana, Gambia and UK receiving the ACCA degree in accounting.
•More than 10 years in alluvial gold mining in Ghana with local business connections.
Kerry Bjornson, Advisory Board Member
•20 years of experience in the mining industry.
•Contract Mine construction in US for gold, silver and copper.
•Chief Executive Officer, Gold Canyon Mining and Construction.
Nice post
SNEY
The Good
1. Gold (up to 500,000 ounces)
2. REES
3. UI product
4. Ghana
5. Investors/Traders/Flippers who do DD
6. On-board mining expert
7. on-board retired Broker
8. ?
Versus
The Bad
1. Caveat Emptor (temporary)
2. Financials (Work in progress)
3. Investors/Traders/Flippers who don't do DD
4. ?
SNEY is in a holding pattern.
The financials turned out to be quite a challenge and costly.
Everything else about SNEY has not change.
We’ve haven’t had an update in 2 months; however one is imminent by “SNEY” definition “later than sooner”.:)
There are security concerns they may very well be the reason for lack of hard numbers.
Some believe that they are waiting for the CE removal before they report the numbers.
This company did not spring up overnight. They been around for a least 3 years and as company president Bryan Miller said and I quote:
"It is great to be in operation on the Pampana and to have our testing from the past 2 years begin to bear fruit."
"Management is pleased and excited that dredging operations are really performing better than expected.”
For one to really determine exactly what is going on with SNEY, it is my belief one should do some research.
Start with SNEY Business Plan (also see AMS see Attachment 1 below) and see what they said they were going to do and see if they did it.
SUNERGY EXECUTIVE BRIEFING (dated November 23, 2010)
http://www.sunergygold.com/sney_executive_briefing.pdf
If you pay close attention to the AMS document, SNEY was never part of the plan; I believe AMS was looking for private investors.
The Caveat Emptor (CE) came as a result of a promotion that the company said they had nothing to do with.
The updated financials will take care of the CE, so until that occur the CE remains.
We have only just begun extracting Gold/Rees/UI object, so it is premature to expect too much too soon. I know a lot of people want some hard numbers; however the company is working in somewhat of a secret state to protect our product.
I hope at some point we start some major land based operations because that is where most of the gold is. There is 10X more Gold on land than in the river:
http://www.sunergygold.com/corporate/AMS_Concession_Report_Sept_2010.pdf
Mineral Resource and Mineral Reserve Estimates and values
Allied Mining & Supply Ltd., (AMS), recently completed its initial alluvial testing program on a section of the Sierra Leone property with promising results. The program was carried out in coordination with local mining authorities, Sierra Leone-based geologists and AMS staff, using dredges and portable exploration washes plants. Areas sampled included river beds, flats and terraces using random sampling, satellite images and historical data for site selection.
Verified grades on river bank pits approached 10g/t; however more typical grades using random sampling were in the 1-2g/t range. The Company expects future drilling and bulk sampling to also reveal grades in that with occasional heavy mineralization. Stripping ratios should fall within 2:1 to 5:1 to one range making recovery highly cost effective. Heavy mineral sands were encountered throughout the prospect and in all gravel deposits. Previous assays on these sand types recovered from nearby AMS locations proved them to be a valuable secondary resource in commercially exploitable grades. Current samples have been processed at the RMS Ross Lab in Canada (Laboratory analytical results attached). Gold purity averages 90%+. The historical data estimates the potential value of the prospect to be in excess of $500,000,000.
A Mahdi of Geo Resources (SL) Ltd. did an analysis of previous work conducted on the Pampana River in areas within the AMS concession. He came to the following conclusion:
“In determining the possible volume of auriferous gravels within EXPL 7/94, gravels within the present Pampana channel are discussed separately from those developed in the flats and terraces flanking the Pampana river bank.”
River Bank Deposits:
A study of the contours on Topographic Sheets 44 and 55 and the assumption that the gravels laid by the Pampana would not spread more than 1,500 metres from edge of the present river channel, have allowed possible gravel retention sites to be outlined and measured. The area of these retention sites total 11.7888Km2 (11,788,800sq.metres) The thickness of the gravel is taken as the average of the gravel thicknesses as in all areas tested by NDMC (SL) Ltd., in its A2 and A3 development sampling programme. This approximated to 2.0 metres. The volume is therefore 23,577,600cu.metre (47,155,200cuyds.)
Pampana Channel Deposit:
Total length of river under consideration approximates 24 kilometers, with a mean width of the about 100 metres.
The following assumptions are made in computing a possible volume of gravels in the channel.
(i) only about 30% of the river is dredgeable.
(ii) Gravel thickness in the channel is 1.5 metres.
Possible gravel volume in channel:
8000 x 100 x 1.5 = 1,200,000cu.metres (1,569,540cu.yds.)
GOLD CONTENT IN THE CONCESSION
(a) In the Pampana Channel:
(i) Assume the grade of 0.811 gm/m3 recovered by 1950 Dredge for a section of south of the concession holds good for dredgeable sections, then the gold content is 973,200gms or 31,293oz.
(ii) Assume that depletion due to illicit mining over the years is set at 30% then the gold content is reduced to 21,905ozs
(b) In the Flanking Flats and Terraces:
Weighted Mean grade = 0.0098oz/yd3
Gravel Volume = 47,155,200yd3
Assume 70% of gravel would be economic, volume is reduced to =
33,008,640yd3
Gold content = 323,485ozs at gold’s current value holding steady at well over $1,000 per ounce.
Depletion of 15% Gold due to
previous mining - lawful and illicit,
Gold content is reduced to = 274,962ozs
Other Relevant Data and Information
Development of the prospect area can occur in two phases: phase one will define both alluvial and lode reserves for mining; phase 2 will be its reserve development and commercial mining program. Testing and existing data indicate gold concentrations ranging
from 1 to 18 grams per tonne of material. Fire assays conducted in Freetown by AMS show the gold purity at 89%. Assays of black sand concentrates by AMS in 2009 proved quantities of rare earth metals and other valuable minerals in commercially exploitable grades. Of particular interest are the values of the ten of the lanthanide elements, as well as thorium, tantalum, yttrium, zirconium and chromium. These sands are consistent and verified in the river channel and along the banks and benches. AMS geologists estimate 50kg/tonne rich black sands easily recoverable by dredging and land-based mining, suggesting the likelihood of highly profitable and immediate placer mining. Inspection of artisanal mining and prospecting sites within the license area show black sands throughout the claim.
Attachment 1
Sunergy Inc (SNEY) vision started at least 3 years ago. It appears based on documentation from Allied Mineral and Supply Ltd.(AMS) that SNEY was not part of the original plan. The intent of AMS was to seek a limited number of joint venture partners.
The management team of SNEY are visionaries. They have done their homework , they put their plan into action, they executed their business plan and have thus far have been accomplishing their goals. Certainly there have been setbacks, however they keep moving forward. Their success is attributed to their planning and wealth of experience of their management team.
Below are some highlights from the above mentioned AMS document:
Thanks to growfast for bringing it to the board.
http://www.alliedminingandsupply.com/pdf_files/JointVentureOpportunities.pdf
__________________________________________ _______________________________________
JOINT VENTURE SUMMARY
Allied Mining & Supply Ltd. (AMS), a Sierra Leonean corporation, is actively conducting exploration, dredging and bulk sampling operations in Sierra Leone on a section of our concession territory of 140.1 square kilometers on the Pampana River. We are currently seeking a limited number of joint venture partners to expand our activities within the prospect area in order to effect a more rapid recovery of the licensed mineral resources. Preliminary indications and extrapolations from available reports indicate aggregate recoverable alluvial gold deposits at an estimated 1,000,000 ounces within the river channel and along the river banks and benches. A fully-funded exploration operation (Phase III of this plan) is required in order to more precisely estimate recoverable values. However, formal reports based on prior testing and exploration undertaken by a qualified party estimate 500,000 ounces of recoverable gold within a section of 40.1 square kilometers within the total prospect area. The remaining contiguous 100 square kilometers is assumed to contain at least that quantity of recoverable gold due to its similar proximity to likely primary ore deposits and location within the same mineral transport/concentration area. Again, further exploration is required to verify this assumption.
The principals of AMS are in the process of forming a Nevada Limited Liability Company (Allied Mining and Supply, LLC) to act as the holding company for AMS Ltd. and other exploration, mining and development ventures in Africa. The Company is open to negotiations for a limited number of joint venture arrangements for the principal purpose of new mining for gold in alluvial deposits which by value contain predominantly gold with detectable amounts of silver and palladium group metals. These JV operations would be in conjunction with our four-phase development strategy for the prospect.
Initial testing and historical data indicate gold concentrations ranging from 1 to 18 grams per ton of material. Fire assays conducted in Freetown show the gold purity at 89%. Tests of dredge concentrate undertaken at a US lab show significant strategic metal content in possible commercial quantities. AMS fully intends to exploit all concentrate and is evaluating offers from European and US-based refineries interested in receiving the concentrate. Alluvial gem recovery is also anticipated but not the focus of operations.
Parties to any agreement with AMS should wish to cooperate to increase business opportunities for each party, avoid exploration and acquisition conflicts, and share technical, professional and administrative services for the mutual benefit of both parties. It is also imperative that all of our operations include development opportunities for the local communities. AMS Ltd. has made great progress in fostering good relations with local chiefs, politicians and villagers by undertaking a variety of projects including the installation of solar panels at locations of community importance, town cleanup projects, and assistance with drinking water programs. With the assistance of UN personnel, we also intend to explore biomass and micro-hydro projects for village electrification.
Listed below in bullet form are the achievements and milestones carried out to date by AMS personnel from November 2008 - June 2009 in approximate chronological order:
•Secured all relevant mining and export licenses and business permits, November 2008
•Conducted preliminary needs assessment on renewable energy options
•Identified prospect opportunities with help of Ministry of Mines and state Geology offices
•Imported prospecting dredge and portable concentrators, January 2009
•Established local approvals and support of local and Paramount chiefs
•Conducted prospecting and dredging of multiple sites
•Negotiated for redefining prospect boundaries along Pampana to include more economically viable mining sites and to increase prospect size by 100 square kilometers, from 40.1 to 140.1 square kilometers
•Completed community goodwill solar panel installations
•Installed solar street light (first in the province) at the Magbuarka town center as part of “clean up and light up” effort
•Received personal recognition from President Koroma for goodwill and development efforts
•Letters of appreciation for AMS development projects from Honorable Mohamed Albert Tarawallie, MP and Councillor Abdul P. Larkoh, Tonkolili District Office, Chairman Mineral Resosurces
•Newspaper article favorably referred to AMS as a “giant” in Sierra Leone
•Began process for establishing formal business and cultural exchange between Napa, CA and Magburaka
•Concession application (EPL) approved by Ministry of Mines
CONCLUSION
This is a very exciting time in Sierra Leone. Uncertain global economic conditions suggest that gold prices could remain high for the foreseeable future as investors seek safe havens for capital. AMS has made great efforts to secure the goodwill of the local communities by demonstrating our ability and willingness to provide development, capacity building and economic opportunity for the people of Sierra Leone. AMS has put together the foundation for one of the largest gold mining companies in the country by building the relationships and successfully performing the preliminary work necessary to make this a reality.
Complete Management Summary, Sales Forecasts, Pro-Forma Financial Statements, maps, licenses and other supporting documentation are available upon execution of a standard NDA.
END
Bryan Miller, CEO Allied Mining and Supply Ltd.
bryan@alliedminingandsupply.com
Dale Bourassa, President Allied Mining and Supply Ltd.
dale@alliedminingandsupply.com
Tayyib Bah, Operations Manager Allied Mining and Supply Ltd.
Tayyib@alliedminingandsupply.com
Lloyd Penrod, CFO Allied Mining and Supply Ltd.
Lloyd@alliedminingandsupply.com
We all have our opinions.
I like to deal with facts as based on information the company released.
Where is SNEY based on what the company released?
1. Financials – they are a mess being cleaned up.
Why?
The audit of Allied Mineral and Supply LTD, turned out to be costly (time and extra manpower is money) arduous and a freaking nightmare.
The audit and 10K for 12/31/10 will require more work due to the requirement that Allied be audited from inception to date with its Sierra Leone activities. We are not committing to any timelines for the 10K filing because often confirmations and correspondence required by the auditors takes extra time which is beyond our control. We have, however, added extra manpower at every level to insure the most expeditious result possible. The 10Qs for 2011 are reviewed items and will follow the 10K.
http://ih.advfn.com/p.php?pid=nmona&article=48676520
2. Dredging operations – is our shining star
Why?
Bryan Miller, President, comments:
"It is great to be in operation on the Pampana and to have our testing from the past 2 years begin to bear fruit. We are putting a secure processing facility together near our operations. This is where we bring the recovered concentrates. This is also where we will be setting up our recovery operation which will start up once the operating season is over. In the meantime, we are dedicated to producing as much black sand concentrate as possible during the operating season. We are also working on a land based operating plan to keep operations going during the winter season."
"Management is pleased and excited that dredging operations are really performing better than expected. There is another discreet product coming regularly from the dredging that is different from the REE black sand concentrates that is being tested to determine if there is an added economic benefit to operations. Further details will be available once testing is complete. We are also studying opportunities to expand our rare earth/gold and other technology metals operations in the near term."
We all want updates and the company said one was coming. We know they say it is soon and we don't get it till later.
The CE caught the company by surprise and when they went to resolve it, they didn't have a clue it would be a difficult process.
They shared with us the issues gathering info needed to resolve the CE.
The did give us 2 updates on dredge operations and said another was on the way.
I believe one is coming.
It will show up one day and I hope sooner than later.
The company laid their business plans out at least 3 years ago and are pretty much following them.
Everything will not be smooth sailing.
This is a high risk, high reward in a company that earns their money in a 3rd world country half way around the world.
8/3/11 PR "Just The Facts"
8/3/11 PR is one, simply a progress report on the filings.
Anything said about the filings, whether it be dates, times, deadlines or timelines is no longer an issue.
Secondly, another progress report on operations in Sierra Leone is forthcoming (about to happen in the near future).
Third and last is all about Ghana. We will get a glimpse of what SNEY is up to there.
PR Breakdown:
1. The audit and 10K for 12/31/10 will require more work due to the requirement that Allied be audited from inception to date with its Sierra Leone activities. We are not committing to any timelines for the 10K filing because often confirmations and correspondence required by the auditors takes extra time which is beyond our control. We have, however, added extra manpower at every level to insure the most expeditious result possible.
(for further info see http://investorshub.advfn.com/boards/read_msg.aspx?message_id=65710613)
2. The 10Qs for 2011 are reviewed items and will follow the 10K.
3. Further information on 2011 operations on the Company's projects and prospects in Ghana and Sierra Leone will be forthcoming.
Where does SNEY go from here?
Landbased operations are on the horizon.
Not just processing the "black sands", they will most likely start recovery operations for gold/rees/other on land where there is 10 times more gold. They have the people to do it and they have an excellent opportunity to keep them working during the winter months.
PR dated 5/24/2011
http://ih.advfn.com/p.php?pid=nmona&article=47803404
Bryan Miller, President, comments:
"It is great to be in operation on the Pampana and to have our testing from the past 2 years begin to bear fruit. We are putting a secure processing facility together near our operations. This is where we bring the recovered concentrates. This is also where we will be setting up our recovery operation which will start up once the operating season is over. In the meantime, we are dedicated to producing as much black sand concentrate as possible during the operating season. We are also working on a land based operating plan to keep operations going during the winter season."
"Management is pleased and excited that dredging operations are really performing better than expected. There is another discreet product coming regularly from the dredging that is different from the REE black sand concentrates that is being tested to determine if there is an added economic benefit to operations. Further details will be available once testing is complete. We are also studying opportunities to expand our rare earth/gold and other technology metals operations in the near term."
Thank you for your opinion, however according to the last PR released an update to operations is coming:
Further information on 2011 operations on the Company's projects and prospects in Ghana and Sierra Leone will be forthcoming.
Forthcoming - about to happen in the near future
We know we have an update coming that is being prepared on operations in Sierra Leone and also Ghana.
What will they tell us?
Based on previously updates, the SNEY has been very specific on the what (gold, black sands) and the how much (lbs./ton, tons, oz, grams per ton) materials were collected.
What I would like to know is:
1. How much Gold we have.
2. How much black sands/REEs we have.
3. How much Gold we sold.
4. How much black sands/REEs we sold.
5. Who the buyers are
6. What is the game plan for Ghana
7. Do we have enough funds for on-going ops
Our goals can only be reached through a vehicle of a plan, in which we must fervently believe, and upon which we must vigorously act. There is no other route to success.
What did SNEY do?
1. Established Business Plan (started with AMS see Attachment 1 below)
SUNERGY EXECUTIVE BRIEFING (dated November 23, 2010)
http://www.sunergygold.com/sney_executive_briefing.pdf
2. Executed Business Plan
Sunergy is executing their business plan. Certainly they have missed target dates, however the plan is unfolding within the scope of desired goals.
3. Results:
My analysis says based on the AMS and Sunergy Business Plans, SNEY have the foundation established and moved from a developmental company to a producing company. What we don’t know is “how much (gold/rees) and what else they are producing”. They have been silent on an operations update since June 13, 2011, however they did say in the PR dated August 3, 2011 and I quote:
Further information on 2011 operations on the Company's projects and prospects in Ghana and Sierra Leone will be forthcoming.
Yea right!
You said:
This company has no money. Why do you think they keep delaying everything. The exit strategy has already begun. The goal is to keep the pps higher then the restricted share price and then slowly flood the market for a small profit as the dissolve. This is very clear considering they cannot complete anything for the investor. The pps of this organization would easily be above .05 cents fi they were a real business. In fact .25 is an easy target for a real mining company with gold where it is and the proclaimed reserves. The fact of Sney is that the do not have any business plan and are out of cash.
Thank you for your opinion, however according to the last PR released an update to operations is coming:
Further information on 2011 operations on the Company's projects and prospects in Ghana and Sierra Leone will be forthcoming.
Unless you have been to Sierra Leone or talked to the company, you are providing unfounded speculation.
”Being busy does not always mean real work. The object of all work is production or accomplishment and to either of these ends there must be forethought, system, planning, intelligence, and honest purpose, as well as perspiration. Seeming to do is not doing."
That's because NOTHING is happening. They already PR'd months ago that they would dredge as far into JUNE as possible. We are in August and its the PEAK of the RAINy season.
Operations have grinded to a halt...and ppl investing here will be very disappointed soon due to the RAIN.
Although I'd have to say that the RAIN is only PART of their troubles. ......rule
Trust, but verify.
SNEY has released something (PR or SEC filing) every month since Aug 2010. Based on that, I expect something else to be released in Aug 2011.
What do you think?
What will it be?
Financials?
Production #s?
Acquisitions?
JVs?
Aug 2011 - 2
Jul 2011 - 3
Jun 2011 - 5
May 2011 - 9
Apr 2011 - 1
Mar 2011 - 4
Feb 2011 - 1
Jan 2011 - 2
Dec 2010 - 5
Nov 2010 - 7
Oct 2010 - 4
Sep 2010 - 4
Aug 2010 - 2
Aug 2010 - 2
The last PR on the status of production was put over 7 weeks ago.
This is the longest the company has gone without giving an update of on-going operations.
Learn the art of patience. Apply discipline to your thoughts when they become anxious over the outcome of a goal. Impatience breeds anxiety, fear, discouragement and failure. Patience creates confidence, decisiveness, and a rational outlook, which eventually leads to success.
Q "We are deep into the second month of dredging operations on our Pampana River Project in Sierra Leone. Production has increased daily for the past 3 weeks. Visible gold production is up, from 1.5 grams to 3 grams per ton of feed gravel. We are now recovering more than the estimated 100 lbs./ton of rare earth black sands concentrate from each ton of feed. Management believes that over 80% of the free gold remains in the black sands concentrate. We clean the sluice out at the end of each 10 hour shift. By the end of this week, we will have 40 tons of rare earth black sands concentrate stockpiled. 40 tons is the maximum allowed to fit in the 40 foot shipping container that we own in Freetown. Management projects that an additional 40 tons of Rare Earth black sand concentrates can be produced by the end of June.
We work closely with the local Chief and his people and currently we employ a total of 50 men and women and rank number two behind African Minerals, the largest iron ore producer in Sierra Leone, in total number of employees in the Tonkolli district. Community relations are strong as we are bringing new prosperity to this community"
Our new processing equipment described in our June 2, 2011 Press Release is being prepared for shipping so the free gold and rare earths can be separated and upgraded through a single simple gravity separation operation. A small crushing circuit to enhance separation will be added to the shipment.
"Management is pleased and excited that dredging operations are really performing better than expected. There is another discreet product coming regularly from the dredging that is different from the REE black sand concentrates that is being tested to determine if there is an added economic benefit to operations. Further details will be available once testing is complete. We are also studying opportunities to expand our rare earth/gold and other technology metals operations in the near term."
There is more 10X more Gold on land than in the river.
http://www.sunergygold.com/corporate/AMS_Concession_Report_Sept_2010.pdf
Mineral Resource and Mineral Reserve Estimates and values
Allied Mining & Supply Ltd., (AMS), recently completed its initial alluvial testing program on a section of the Sierra Leone property with promising results. The program was carried out in
coordination with local mining authorities, Sierra Leone-based geologists and AMS staff, using dredges and portable exploration washes plants. Areas sampled included river beds, flats and terraces using random sampling, satellite images and historical data for site selection.
Verified grades on river bank pits approached 10g/t; however more typical grades using random sampling were in the 1-2g/t range. The Company expects future drilling and bulk sampling to also reveal grades in that with occasional heavy mineralization. Stripping ratios should fall within 2:1 to 5:1 to one range making recovery highly cost effective. Heavy mineral sands were encountered throughout the prospect and in all gravel deposits. Previous assays on these sand types recovered from nearby AMS locations proved them to be a valuable secondary resource in commercially exploitable grades. Current samples have been processed at the RMS Ross Lab in Canada (Laboratory analytical results attached). Gold purity averages 90%+. The historical data estimates the potential value of the prospect to be in excess of $500,000,0009
A Mahdi of Geo Resources (SL) Ltd. did an analysis of previous work conducted on the Pampana River in areas within the AMS concession. He came to the following conclusion:
“In determining the possible volume of auriferous gravels within EXPL 7/94, gravels within the present Pampana channel are discussed separately from those developed in the flats and terraces flanking the Pampana river bank.”
River Bank Deposits:
A study of the contours on Topographic Sheets 44 and 55 and the assumption that the gravels laid by the Pampana would not spread more than 1,500 metres from edge of the present river channel, have allowed possible gravel retention sites to be outlined and measured. The area of these retention sites total 11.7888Km2 (11,788,800sq.metres) The thickness of the gravel is taken as the average of the gravel thicknesses as in all areas tested by NDMC (SL) Ltd., in its A2 and A3 development sampling programme. This approximated to 2.0 metres. The volume is therefore 23,577,600cu.metre (47,155,200cuyds.)
Pampana Channel Deposit:
Total length of river under consideration approximates 24 kilometers, with a mean width of the about 100 metres.
The following assumptions are made in computing a possible volume of gravels in the channel.
(i) only about 30% of the river is dredgeable.
(ii) Gravel thickness in the channel is 1.5 metres.
Possible gravel volume in channel:
8000 x 100 x 1.5 = 1,200,000cu.metres (1,569,540cu.yds.)
GOLD CONTENT IN THE CONCESSION
(a) In the Pampana Channel:
(i) Assume the grade of 0.811 gm/m3 recovered by 1950 Dredge for a section of south of the concession holds good for dredgeable sections, then the gold content is 973,200gms or 31,293oz.
(ii) Assume that depletion due to illicit mining over the years is set at 30% then the gold content is reduced to 21,905ozs
(b) In the Flanking Flats and Terraces:
Weighted Mean grade = 0.0098oz/yd3
Gravel Volume = 47,155,200yd3
Assume 70% of gravel would be economic, volume is reduced to =
33,008,640yd3
Gold content = 323,485ozs at gold’s current value holding steady at well over $1,000 per ounce.
Depletion of 15% Gold due to
previous mining - lawful and illicit,
Gold content is reduced to = 274,962ozs
Other Relevant Data and Information
Development of the prospect area can occur in two phases: phase one will define both alluvial and lode reserves for mining; phase 2 will be its reserve development and commercial mining program. Testing and existing data indicate gold concentrations ranging
from 1 to 18 grams per tonne of material. Fire assays conducted in Freetown by AMS show the gold purity at 89%. Assays of black sand concentrates by AMS in 2009 proved quantities of rare earth metals and other valuable minerals in commercially exploitable grades. Of particular interest are the values of the ten of the lanthanide elements, as well as thorium, tantalum, yttrium, zirconium and chromium. These sands are consistent and verified in the river channel and along the banks and benches. AMS geologists estimate 50kg/tonne rich black sands easily recoverable by dredging and land-based mining, suggesting the likelihood of highly profitable and immediate placer mining. Inspection of artisanal mining and prospecting sites within the license area show black sands throughout the claim.