Stans Energy Corp., (Stans) has entered into an exclusive 12 month agreement (the “Option Agreement”) with the “Kyrgyz Chemical and Metallurgical Plant” (KCMP) to option the processing plants that previously isolated and recovered each of the 15 rare earth elements (REEs) from the Kutessay II mine. The REE mine Kutessay II and associated Kalesay beryllium deposit were recently acquired by Stans and are 100% owned by the company. [News Release December 29, 2009].
The KCMP assets under the Option Agreement include three plants, the associated equipment and the railway terminal used when KCMP was last in production. Stans will be engaging an independent engineering evaluator to assess the capabilities of KCMP as the company moves towards returning Kutessay II to production. Under the Option Agreement, Stans will be responsible for covering the costs of security, maintenance and utilities for the plants and rail terminal. Stans will initiate an independent appraisal of the KCMP rare earth complex to determine the basis for the purchase price should Stans exercise the option.
During the period of operation, from 1966 to 1991, KCMP separated and recovered all 15 REEs to produce 120 different rare-earth products, including oxides, pure metals and alloys at purities of up to 99.99%.
Rodney Irwin, Chairman of Stans Energy, former Canadian Ambassador to Russia, and current Honorary Consul for The Kyrgyz Republic to Canada states, “On behalf of our shareholders, I would like to express our appreciation to the management of Stans in securing the exclusive option for the KCMP complex, which becomes the next step in Stans Energy Corp., becoming a near-term rare earth producer.”
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further details on Stans Energy Corp., please visit the Company’s website at: www.stansenergy.com. The website is currently being updated to provide additional information on KCMP.
President and CEO, Stans Energy Corp.
Ph. 647 426 1865
Manager Investor Relations, Stans Energy Corp
Ph. 647 426 1865