TORONTO--(BUSINESS WIRE)--Stans Energy Corp (TSX-V: HRE, OTCQX: HREEF)(‘Stans’ or ‘The Company’) is pleased to announce the hiring of David Newton as its new Vice President of Mining Operations.
Mr. Newton MSc. is a graduate of the Camborne School of Metaliferrous Mining as well as a graduate Witwatersrand University. During his forty year career in various mine management functions, Mr. Newton has held increasingly senior positions with such firms as Anglo American Corporation and Newmont Gold.
Throughout the course of his distinguished 40 year career, Mr. Newton has overseen both open-pit and underground mining operations most recently having worked in jurisdictions as diverse as: Democratic Republic of Congo, Armenia, Georgia, Uzbekistan, Ghana, United Kingdom, and South Africa.
Robert Mackay, Stans Energy’s President and CEO, states, “Mr. Newton’s expertise in mine construction and development, coupled with his extensive experience in the Former Soviet Republics will support Stans’ transition from the development stage to production at Kutessay II. Mr. Newton’s track record of reducing operating costs; and bringing projects on-stream, under budget and on-schedule is an invaluable asset. We are extremely pleased that Mr. Newton is joining our team in this capacity and look forward to his positive impact on our production plans.”
At a meeting of the board of directors, on January 24, 2012, Mr. Newton was granted 500,000 incentive stock options exercisable into one common share of the company at $1.18 per share until January 24, 2017. All options granted and any common shares issued upon the exercise of the options will be subject to a statutory four-month hold period expiring May 24, 2012. The option grant is subject to regulatory approval.
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 “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.