TORONTO -- (Business Wire)
Robert Mackay, President and CEO of Stans Energy Corp. (TSX-V: HRE,
OTCQX: HREEF), (âStansâ or the âCompanyâ), is pleased to announce that
Plant #3 of the companyâs Kashka REE Plant (KRP) will be ready for
operational testing by mid-July 2012, and by August 30, 2012, the KRP is
expected to be ready to produce its first product â Heavy Rare Earth
Oxides of Dysprosium, Gadolinium, and Erbium to 99.99% purity.
The three heavy rare earths are to be recovered from loaded ion exchange
resins located in the circuit since plant operations were suspended in
the early 1990s. Since the acquisition of KRP in spring 2011, Stans
Energy has undertaken an extensive refurbishment program at Plant #3.
Although Plant #3 had not operated for nearly 20 years, much of the
production equipment has remained in place and is ready to be restarted.
âWe are extremely pleased with the progress made to date at Plant #3.
Through the course of our renovation, and in consultation with our
technical advisors at VNIIHT, we discovered the potential for recovering
nearly two tonnes of mixed rare earths oxides from concentrate that
remains in the holding tanks. The concentrate consists of Dysprosium,
Gadolinium, Samarium, Yttrium, Holmium, Ytterbium, Erbium, Thulium and
Lutetium This production test run will demonstrate the operational
viability of the KRP plant. This validation of our proven metallurgical
processes and production assets will solidify our position as one of the
front-runners to Rare Earth Oxide production outside of China. In this
period of transition from project development through infrastructure
build-out, and ultimately production readiness, Stans Energy will
continue the evaluation of other potential sources of concentrates.
Above all, I would like to take this opportunity to congratulate our
engineering and technical teams on this milestone achievement and for
their contribution to company progress."
The Russian Research Institute of Chemical Technology (VNIIHT) is
currently designing new technology that will be incorporated into a new
Plant #1. This plant was historically used to both crack the concentrate
from the milling stage and remove radioactivity before it was sent to
Plant #2 for solvent extraction. Based on consultations with VNIIHT,
Stans expects the process circuit design to be finalized in Q3 2012.
This design will be incorporated into the Companyâs Bankable Feasibility
Study (BFS), which will begin in Q3 2012.
Plant #2 was previously used for solvent extraction of rare earths.
Stans is investigating whether to rehabilitate Plant #2, or to construct
a 1500 tonnes per year new plant using plastic solvent extraction
equipment. Until that decision is made, pilot scale extraction testing
will be continued in Plant #3.
About VNIIHT
The Russian Research Institute of Chemical Technology (VNIIHT) was
founded in April 1951. VNIIHTâs 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. VNIIHTâs 60 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.VNIIHT is a division of ROSATOM.
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.
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 âwillâ, âshallâ, "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.
Contacts:
Stans Energy Corp.
Robert Mackay, 647-426-1865
President
& CEO
robert@stansenergy.com
or
David
Vinokurov, 647-426-1865
Manager, Investor Relations
david@stansenergy.com
Source: Stans Energy Corp.
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