Stans Energy Corp (TSX-V: HRE, OTCQX: HREEF)(‘Stans’ or ‘The Company’) is pleased to report: that it has received a working draft of its Preliminary Feasibility Study; on recent meetings conducted with Kyrgyz and Russian government representatives and to announce a grant of options to a new consultant.
The Preliminary Feasibility Study is currently under review at The Russian Leading Institute of Chemical Technology (VNIIHT). Under the guidance of Dr. Valery Kosynkin, the scientists at VNIIHT will be reviewing and if necessary removing all references of proprietary technologies and processes that will be used at the Kashka Rare Earth Processing Plant (KRP). A fundamental challenge to all new Rare Earth projects worldwide is developing technology for recovery and preparation of useful forms of the Rare Earth elements. Stans’ is the holder of such proprietary technology developed and employed in recovering and producing Rare Earth Element products during the more than 20 years of operation of the KRP. Upon completion of this task, the Preliminary Feasibility Study will be reviewed by a Canadian independent third party to ensure compliance with Canadian reporting regulations
On January 20th, 2012, Boris Aryev, Stans Energy COO and Director, Dr. Gennady Sarychev, the Director of VNIIHT, along with Mr. V. Nekrasov, the Russian Trade Commissioner for the Kyrgyz Republic attended a meeting with Mr. O. Babanov, the newly appointed Prime Minister of the Kyrgyz Republic, and Mr. C. Tashbaev, the newly appointed Director of the State Geological Agency of the Kyrgyz Republic. The purpose of the meeting was to discuss and elaborate on the joint initiatives undertaken by Stans Energy Corp and VNIIHT, as they advance Kutessay II and the KRP back to production.
“With VNIIHT being a government sponsored agency, namely a division of Russian state-controlled Rosatom, and the participation of the Russian Trade Commissioner in our recent meetings demonstrated to Kyrgyz officials the high level of Russian Government support that Stans Energy enjoys. Our recent submission of documents in satisfaction of the Licensing Agreement is another important milestone that needs to be addressed for us to continue to fast track plans for resumption of production at Kutessay II. Stans Energy will continue to work closely with the Kyrgyz State Geological Agency to satisfy all conditions of the Licensing Agreement, and the strong levels of international support demonstrates the critical nature of the project to all stakeholders and potential partners,” states Boris Aryev, COO and Director.
As approved by the board of directors on February 27, 2012, a new consultant engaged to assist Stans Energy with off-take negotiations has been granted 40,000 options exercisable into one common share of the company at $1.12 per share until February 27, 2017. All options granted and any common shares issued on the exercise of the options will be subject to a statutory four-month hold period expiring June 27, 2012. The option grant is subject to regulatory approval.
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.