TORONTO--(BUSINESS WIRE)--Stans Energy Corp (TSX-V: HRE) (Pink Sheets: HREEF)(‘Stans’ or ‘The Company’) is pleased to announce the signing of an exclusive option on the existing Aktyuz mill used for the beneficiation of Kutesay II rare earths ores. The company has also acquired a surface rights lease for the life of the mine for 365 hectares surrounding the property for infrastructure build out.
This exclusive option will allow for Stans to conduct complete technical, economic and environmental assessments of the milling facility, which should be completed by March 31, 2012. Upon completion of successful due diligence, negotiations will commence with the current ownership to establish agreeable terms for both parties.
Stans has also secured a life of mine lease for a 365-hectare package of land comprising its license area at the Kutesay II and Kalesay deposits. The land package consisting of two orders; #436-P, #437-P has been ratified by both the Kemin Administration of Land Management and the town council of the village of Aktyuz and registered with the Federal Government.
“This is another important step in our program to restart mining operation and to continue the necessary infrastructure build out for the life of the mine. This agreement represents another pivotal show of support from both the local and federal authorities to provide development and employment in the region, and provides Stans with a solid footing to continue with our program of sustainable development at our mining sites. Signing the mill option allows Stans to examine a two phase production plan while the life of mine land lease provides Stans with space to start the infrastructure build out required for the planned annual production of 1500t TREO in Phase II,” states Dr. Gennady Savchenko QP, managing director of Stans Energy KG and LLC Kutisay Mining.
About Stans Energy
Stans Energy 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 Plant (KRP) the same plant that
historically refined REEs from the Kutessay-II open pit mine. 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, 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.