Management Changes at Stans Energy
September 03, 2013 (Source: Businesswire) — Rodney Irwin, Chairman of the Board of Stans Energy Corp. (‘Stans’ or ‘the Company’) (TSX-V:HRE) (OTCQX:HREEF)announces with profound regret that, due to current health reasons, President and CEO Robert Mackay has resigned, though he will be staying on as a Director. Robert has experienced two separate life-threatening health issues this year, the most recent while traveling on company business this summer.
Robert co-founded Stans Energy Corp in 2005 and has played a key role in all of Stans Energy’s efforts in Kyrgyzstan and his leadership will be sorely missed as we proceed with our interests in the Kyrgyz mining sector. The company wishes Robert good health in retirement.
Get our daily investorintel update
Robert Mackay has offered his parting words, “I would like to thank the shareholders of this company for their continuous support throughout the last 8 years. Stans purchased Kutessay II in December 2009, and since that date, my goal as President of this company was always to make Stans Energy Corp. the first heavy rare earth miner and producer outside of China. I trust that Stans will be able to find a suitable replacement, who shares the same vision. I wish the employees and all of the company’s stake holders success in the future.”
This is a complex and challenging time for the Company and until a new President has been appointed, Rodney Irwin will fill that role in an acting capacity. Efforts will be made to find a new president who can guide the company through development and production stages in the company’s future.
About Stans Energy
Stans Energy Corp. is a resource development company focused on advancing Heavy Rare Earth (HRE) properties in areas of Central Asia and Russia. 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 from Kutessay II ores. 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.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>