Stans Energy Corp (TSX-V: HRE, OTCQX: HREEF)(‘Stans’ or ‘The Company’) is pleased to announce that it has retained the Russian Research Institute of Chemical Technology (VNIIHT), a division of ROSATOM, the State Atomic Energy Corporation of Russia, to be the lead engineering firm for the design build process at Kutessay II. Upon completion, final designs will then be used for the Bankable Feasibility Study that VNIIHT will be overseeing.
VNIIHT is responsible for implementing the following engineering initiatives:
1. Design technology to remove radioactive ore components replacing that previously used in Plant 1;
2. Evaluation of the new 1 million tonnes per annum mine design, and;
3. Design Phase 1 and 2 of the Mill and Tailing Pond.
The proprietary technology that VNIIHT is developing for Plant 1 will be more environmentally sustainable than the technology that was previously deployed when the Kashka Rare Earth Plant (KRP) was still in production. These new design and environmental initiatives are being executed under the supervision of Dr. Valeriy Kosinkin, Stans’ lead technical advisor. Upon completion of these design initiatives, VNIIHT will re-deploy its engineering expertise to incorporate these elements into a Bankable Feasibility Study.
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“As Stans Energy continues its transition to production, the completion of critical design and engineering components, leading to the commencement of the Bankable Feasibility Study, are important milestones for the Company. This process will continue to further de-risk the project for stakeholders and potential off-take partners. Our ongoing close working relationship with VNIIIHT, with its team of world renowned Rare Earth experts, will give Stans the opportunity for fast-track implementation of the latest technological innovations in Rare Earth hydrometallurgy. Once the redesign of Plant 1 is complete in the second half of 2012, we will be able to issue a timetable for the upcoming Bankable Feasibility Study,” states Robert Mackay, President and CEO.
About Dr. Kosynkin
Dr. Valery Kosynkin is one of the world’s preeminent chemists and metallurgists for Rare Earth Elements (REE). Dr. Kosynkin holds a doctorate of philosophy from Moscow State University. His dissertation was on uranium and the development of REEs through processing of loparite concentrate. Since 1959, Dr. Kosynkin has been employed by VNIIHT – The Russian Leading Institute of Chemical technology, initially as a Researcher in Uranium technologies, and from 1973 as the Head of Research and Development for REE chemistry and technology. Dr. Kosynkin has overseen the technical research and commissioning of REE production and extraction facilities in Russia, Ukraine, Estonia and Kazakhstan. In addition to his work at VNIIHT, Dr. Kosynkin worked as a USSR IAEA Representative from 1968 to 1973 in Vienna, Austria; and has been lecturing on REE metallurgy and chemistry in Russia, China, and Korea.
The Russian Research Institute of Chemical Technology (VNIIHT) was founded in April 1951. VNIIHT’s objective was to focus on the exploration and development of technologies and raw materials for use in the Soviet nuclear energy sector. VNIIHT technologies were, and continue to be implemented during the main stages of the nuclear fuel cycle. This includes the processing of Uranium and Rare Metal Ores through to the generation of nuclear-pure materials. VNIIHT’s sixty years of chemical technology experience combined with their capabilities of executing the complete cycle of rare earths research, development, and production will give Stans Energy a significant advantage relative to its competitors outside of China.
We seek safe harbour.
President & CEO
Manager, Investor Relations
FORWARD LOOKING STATEMENTS: This document includes forward-looking statements as well as historical information. Forward-looking statements include, but are not limited to, use of proceeds from the Offering, the completion of the Offering, and the continued advancement of the company’s general business development, research development and the company’s development of mineral exploration projects. When used in this press release, the words “will”, “shall”, “anticipate”, “believe”, “estimate”, “expect”, “intent”, “may”, “project”, “plan”, “should” and similar expressions may identify forward-looking statements. Although Stans Energy Corp. believes that their expectations reflected in these forward looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statement. Important factors that could cause actual results to differ from these forward-looking statements include the potential that fluctuations in the marketplace for the sale of minerals, the inability to implement corporate strategies, the ability to obtain financing and other risks disclosed in our filings made with Canadian Securities Regulators.