By: Tomas Ronolski - AllPennyStocks.com News

Tuesday, October 6, 2015

Diamond Investing News (DIN) said in a report last year that the diamond market was not as stable towards the end of 2014 as it was in the first half of the year. Paul Zimnisky, an independent diamond industry analyst and consultant, told DIN that during the first half of 2014, diamond prices were mixed, while prices were decisively down in the second half. According to Zimnisky, the decline was partly due to a 0.5% rise in diamond production volume. Another reason for price decline was a reduction in credit available to rough buyers, noted Zimnisky.

The diamond market has also not been helped by the slowdown in China, a major market. While near-term challenges remain for the diamond industry, the long-term outlook is more robust.

The long-term outlook for the diamond industry augurs well for Sunergy Inc. (OTCPK:SNEY), a Scottsdale, Arizona-based junior mining company with a wash plant and loader in Liberia.

This morning Sunergy announced the closing of its latest diamond sale in the third quarter of 2015. The company will publish the results in the next 10Q, which will be filed with the SEC.

SNEY said that additional diamond parcels are already being assembled and related sales are expected to close before the year end. The company said that with the latest sale, its revenue in the third quarter exceeded that of the prior quarter. SNEY’s management is confident that the trend will continue going forward. The company noted that revenues are expected to increase substantially in the coming months as the dry season has arrived.

SNEY also said that its management is actively pursuing the purchase of a substantial gold and diamond concession through the National Minerals Association (NMA) in Sierra Leone.

Further, SNEY has also received its 2,000,000 common shares of its developing housing partner Global Builders Group Inc., shares that are privately trading for 50 cents each. The company said that this is now reflecting in its financial statements.

Garrett Hale, Sunergy’s President and CEO, said that 2015 marks a turning point for the company as its team has established a defined process in the continued sale of diamond parcels, and more importantly built strong relationships throughout West Africa to ensure its continued support in procuring additional growth in local business, such as its recent developments with a solar pilot program in Liberia. Hale also added that with the management team actively pursuing multiple tangible avenues, SNEY is taking a stronghold position to establishing itself as a sustainable company now and in the years to come.

Shares of SNEY, which have been as high as $0.0025 and as low as $0.0007 in the past year, are trading flat at $0.0015 on 944,000 in volume in early afternoon trading on Tuesday.

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