18:54:16 EDT Fri 26 Apr 2024
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Stans Energy Corp (2)
Symbol HRE
Shares Issued 157,263,986
Close 2012-06-26 C$ 0.64
Market Cap C$ 100,648,951
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Stans confirms validity of Kyrgyz licence extension

2012-06-28 12:37 ET - News Release

Mr. Robert Mackay reports

STANS ENERGY REPORTS LICENCE AGREEMENT EXTENSION APPROVAL VALID WITHIN KYRGYZ REGULATIONS

Stans Energy Corp. president and chief executive officer Robert Mackay has confirmed that the licence agreement extension that the company has reported on June 18, 2012, was unanimously ratified by the 14-expert-member licensing committee of the State Geological Agency of Kyrgyz Republic (KR).

Recent reports emanating from various sources in Kyrgyzstan of the company's failure to comply with elements, as defined in the licences, are not accurate and in certain cases, blatantly false. Management will continue to deploy all the resources at its disposal to dispel rumours and innuendo from public discourse and if need be, to take legal action against any slanderous comments.

The licence agreement process reviewed the works done to date that Stans Energy has implemented to further the progress toward production at Kutessay II and its required infrastructure. A detailed plan was submitted to the Kyrgyz authorities as per the conditions of the past licence agreement, which was then audited and evaluated by the 14 experts of the licensing committee at the Kyrgyz State Geological Agency. The final decision to sign the new licensing agreement No. 3 was based on these evaluations, and is the basis for the framework that Stans is eager to negotiate in order to establish a public-private partnership and bring Kutessay II back to full production.

"We have always worked within the laws of Kyrgyzstan, and we are meticulous in our adherence to the rules and guidelines set out within our licence agreements. We believe in the people of Kyrgyzstan and the potential of the country. Proof of this statement lays in the fact that we have invested seven years of our time and over $18-million Canadian (over 800 million Kyrgyzstani soms) of our shareholders' money in Kyrgyzstan. With the help of the Kyrgyz government, Stans Energy has the opportunity to become an international leader in the development of heavy rare earths and possibly the development of downstream heavy rare earth products for high-tech industries. This business will employ hundreds of Kyrgyz citizens and develop professional skills needed to continue Kyrgyzstan's progress as a nation," states Robert Mackay. "Furthermore, I want to assure our shareholders that we will use every resource at our disposal to defend your rights, as the legal owners of the Kutessay II mine and Kashka HRE processing facility, should any source attempt to attack the integrity of Stans Energy."

We seek Safe Harbor.

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