I talked to Steve this afternoon and he told me the 2nd Q is coming and the 3rd Q will follow. They expect the 2011 10K to be on-time.
He is going back to Ghana in a week or two. Something about working on a JV. I checked the last PR on Ghana and found:
Sunergy Plans Mobilization Of Its Revenue Generating Gold Bulk Sampling Program On Its 150 sq. km. Nyinahin Gold Concession i...
Date : 09/06/2011 @ 7:36AM
This past year or two has brought several alluvial gold operations to our boundaries. The alluvial mining for gold along the valleys of the Bonte and Jeni (Gyeni) streams has continued into the recently opened areas for small licensed concessions along the Ofin River Valley, both to the north and to the south of the Nyinahin Concession. Currently, there is active mining by British, Brazilians, Chinese, Ghanaians, and reportedly Germans, some within a half kilometer of the boundaries of the Nyinahin concession. There is no question that valuable deposits of alluvial gold, are located along the Ofin River Valley within Sunergy's Nyinahin Concession.
During Q'4 2011 we plan to test and evaluate the alluvial gold recovery potential on our Concession. We plan to do this by bulk sampling existing artisan pits along the river on our concession and to excavate a grid system of new pits to establish continuity of mineralization and to evaluate the depth of both overburden and the thickness of gold bearing gravels to bedrock. We also plan to test bedrock on the ground surface in the bottom of the pits and to drill to depth to test for gold mineralization. Our program is designed to be revenue generating with a planned budget of around $250,000.00 US which could enable potential recovery of an estimated 500oz./gold which would generate about $900,000.00 of gross revenue from the program. Our plan involves either leasing a suitable gold recovery plant or joint venturing with another operator with suitable equipment. The permitting for the operation will commence shortly.
