TORONTO -- (Business Wire)
Robert Mackay, President and CEO of Stans Energy Corp. (TSX-V: HRE,
OTCQX: HREEF), (âStansâ or the âCompanyâ), confirms 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
Companyâs failure to comply with elements, as defined in our Licences,
are not accurate and in certain cases, blatantly false. Management will
continue to deploy all the resources at our 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 towards 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 Licencing Committee at the Kyrgyz State Geological
Agency. The final decision to sign the new Licensing Agreement #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.
âWe 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 7 years of our time and over $18,000,000 Canadian
dollars (over 800,000,000 Kyrgyzstani Soms) of our shareholdersâ 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,â states Robert Mackay.
âFurthermore, IÂ 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.
âNeither TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release."
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
President & CEO
robert@stansenergy.com
647-426-1865
or
David
Vinokurov
Manager, Investor Relations
david@stansenergy.com
647-426-1865
info@stansenergy.com
www.stansenergy.com
Source: Stans Energy Corp.
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