Stans Energy Granted Licence Agreement Extension for Kutessay II Through 2014
Robert Mackay, President and CEO of Stans Energy Corp. (TSX-V: HRE, OTCQX: HREEF), (“Stans” or the “Company”), is pleased to announce that the Company has received an extension to its Licence Agreement within the Company’s mining licence to mine REE until December 31, 2014. This period will provide Stans Energy Corp. with the necessary time to prepare Kutessay II for production. Stans’ existing Mining Licence will govern the production period at Kutessay II, which is valid through December 31, 2029.
The Licence Agreement allows the Government of Kyrgyzstan and Stans Energy Corp to structure a framework for a private-public partnership that will be negotiated over the next three months. The details of this partnership will be negotiated within the boundaries of laws of the Kyrgyz Republic. Currently, those laws do not require a company with an existing licence to transfer any fixed ownership percentage to government authorities.
“The negotiations between the Kyrgyz Government and Stans Energy will allow us to structure an agreement that will benefit both our shareholders and the people of Kyrgyzstan. By establishing a blueprint for a public-private partnership, we feel that the company will have a fully defined process for moving the project closer to production. This cooperation with the government-appointed representative will assist Stans Energy in furthering the advanced off-take discussions with international governments and companies that are seeking non-Chinese sources of rare earths. I would like to thank our numerous supporters in Kyrgyzstan, especially the village of Aktyuz where the mine is located, who have actively assisted us in realization of our projects. With the support of the Kyrgyz Government, Stans Energy hopes to raise Kyrgyzstan’s investment profile and work towards attracting direct foreign investment to the local economy,” states Robert Mackay, CEO and President.
About Stans Energy
Stans Energy Corp. is a resource development company focused on progressing Heavy Rare Earth (HRE) properties in areas of the Former Soviet Union. In December 2009, Stans acquired a 20-year mining license for the past-producing Kutessay II rare earth mine from the Kyrgyz Republic. On May 26, 2011 Stans completed the purchase of the Kashka Rare Earth Processing Plant (KRP) the same plant that previously refined REEs historically from Kutessay II. The KRP was the only hard rock plant to produce all rare earth elements outside of China, producing 120 different metals, alloys, and oxides. For over 30 years, Kutessay II produced 80% of the rare earth metals for the former Soviet Union.
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, 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.