EDITOR: | September 15th, 2014 | 9 Comments

Stans Energy Responds to Kyrgyz Media Report

| September 15, 2014 | 9 Comments
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Stans-Energy-CorpSeptember 15, 2014 (Source: Businesswire) — Stans Energy Corp. (TSX-V: HRE, OTCQX: HREEF), (“Stans” or the “Company”), wishes to respond to comments issued in Kyrgyz media and attributed to government representatives of the Kyrgyz Republic.

Recently, Head of the Department of Fuel and Energy Complex and Subsoil Use, Turatbek Dzhunushaliev issued comments to media in Kyrgyzstan relating to the Company’s licence for the Kutessay II and Kalesay deposits. According to comments attributed to Mr. Dzhunushaliev, the licenses for Kutessay and Kalesay were being prepared for auction. The author of the article goes on further that these licenses had been revoked in 2012, on the initiative of deputies of the parliamentary faction of Ar-Namys.

Notwithstanding recent court cases between the General Prosecutors Office (“GPO”) and the State Agency for Geology and Mineral Resources of the Kyrgyz Republic (“SGA”), the licenses for Kutessay II and Kalesay have not been formally revoked and remain in full possession of Stans and its Kyrgyz subsidiaries, albeit under a stop work order for the Kutessay II and Kalesay licenses. According to the Laws on Subsoil of the Kyrgyz Republic, only the SGA has the legal authority to revoke any subsoil licenses and only under a very specific set of circumstances. According to our legal team those circumstances have not been breached and as such the SGA has no legal standing to revoke Stans’ licenses. In regards to the Mr. Dzhunushaliev’s comments, the SGA has no grounds to prepare the Company’s licenses for any official tender or auction process.

Management has received no indications from the SGA that revocation of any licence is in progress.

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.


Raj Shah

Editor:

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>


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Comments

  • laz

    I smell a corrupt [bought off!?] bureaucrat, in a country seemingly full of corruption. Perhaps, in the near future, with Russia’s currently on the rise status for continuing to resistance the constant war-mongering of the global, war profiting, fascists/zionists b(g)anksters, & their proxy regimes, among the non western aligned countries including the BRICS, will eventually help Stans move forward.

    September 16, 2014 - 4:32 AM

  • David Mortimer

    They took the license from stans after Chinese bribes .

    September 16, 2014 - 9:30 AM

  • laz

    Dave,
    Maybe the proposed REE alliance with China will help change this situation!! This is the same thing that happened to Lynas, Chinese bribes to corrupt government officials and Chinese paid for NIMBY (actually, many of the so called, “protesting Enviros”, don’t even live in the subject countries) enviros!!

    September 18, 2014 - 3:49 PM

  • David Mortimer

    Well I think that it is the Russians who we are now hoping will save the day for us I think the best thing is that Kyryg will be in the customs union and stans will have JV project with the russians to get the mine up and running we just need to come to an agreement about the 118 million arbitration case and then for the krygs to let us mine and we forgo the arbitration money .

    September 18, 2014 - 7:10 PM

  • Alex

    I think if you bought licence for Kytesay for 900 000 USD for 20 years it can not cost 118 000 000 USD losses for stoping this licence.
    Other wise you have to say that the correct price of licence have to be 100 000 000 USD.
    I think Kyrgisian Govermant stop licence because of corruption, and the best way to have peace agreement with Kyrgizian Goverment.
    Pay them 3-5 milions USD and get licence.

    September 20, 2014 - 3:48 AM

  • David Mortimer

    The value of Stans shares were at 3$ at one stage then the rare earth market prices fell , then a chinese company bribed some kyrg politicians to take the license off of stans energy we have evidence of this from many sources , stans energy won the license to mine in an open auction so where is your evidence that stans got the license through corruption .. No they will have to pay us 118$ million because of the arbitration rulling or just settle up and let us mine.

    September 20, 2014 - 3:08 PM

  • Brain Carr

    Absolutely Stans can reach its all time high again. Sooner or later. Especially with the potential of Russia. Joint venture and a Board of director from Rusnano.

    September 21, 2014 - 12:58 AM

  • Bill Keenes

    Tell us Alex which Western companies have been permitted operate in the Kyrgyz Republic without interference from the Kyrgyz government.

    Bet you can’t name one

    The reason is simple … it is the Kyrgyz government that is corrupt.

    September 21, 2014 - 5:13 AM

  • David Mortimer

    Yes Stans should already be in the production stage by now but have had their work stopped by corrupt politicians its a disgrace really since many honest people have invested money in stans and to be treated like this is horrendous, I hope bodies like the IMF and world bank who lend them money talk to them and tell them to stop harassing western companies trying to do legitimate business there.

    September 21, 2014 - 5:26 PM

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