This was sent out in 2008, FWIW:
Why Ghana? We believe the country is an attractive location due to its stability and it history (Former British Colony independent since 1957. There are favorable mining laws and recently numerous major gold producers have begun defining what we believe will become one of the world’s most prolific gold belts. The Opportunity SNEY will begin a gold purchasing program from the artisan’s already working on the concessions; coupled with an oxide mineralization exploration and development plan designed to result in oxide gold recovery through gravity/wash plant operations on concession areas. The Artisans typically recover about 30% of the available gold using crude methods by hand. Modern mechanized methods are able to recover an additional 60% at the rate of 200 tons/hour. There is good harmony in working with the locals, rather than putting them out of work. The purchasing program from the locals will be immediately profitable with profits initially being contributed to the development of alluvial production equipment and operations.
SNEY will purchase gravity/wash plant(s) and a field smelting facility to further recovery after the Artisan hand operations recover the initial gold. Once profitable, SNEY will reserve 60% of the gold recovered .to guarantee anticipated future Gold Debenture financing for growth through acquisition of profitable targeted gold recovery operations. Additional Oxide Gold production opportunities are available in other concessions through acquisition or Joint Venture. Timing Within 45 days of funding, SNEY will start its Gold Buying Program. Within 90 days of funding, SNEY will begin mechanized gold recovery operations on the already previously worked Artisan pits along the Offin River. The operation is profitable from day one because the initial gold is bought at a substantial discount and the cash cost of mechanized gold recovery will be less than $300/ ounce.
$300 an ounce? WOW. Things change.
