In November, 2010, Stans Energy Corp (TSX-V: RUU) (‘Stans’ or the ‘Company’), in cooperation with the Canadian Embassy in Russia, organized a round table discussion to start a trilateral business initiative between Russia, Kyrgyzstan, and Canada to create a new rare earth products supply chain. There were 19 individual invitees representing the Russian Subsoil Agency, its Licensing Department, The Russian Academy of Sciences, Ministry of Natural Resources of the Russian Federation, The All-Russian Research Institute of Chemical Technology (VNIIHT), Macleod Dixon law firm, The Embassy of the Kyrgyz Republic, Stifel Nicolaus Weisel, Cisco Systems, International Trade Canada and Stans Energy Corp.
The meeting outlined the tasks that need to be accomplished to achieve the goal of securing a rare earth supply to the participating countries and to the world experiencing a supply shortage. We would like to acknowledge constructive input provide by Vice-President of Russian Academy of Science, Academician Nikolai Laverov, who was in charge of the Soviet Union Rare-Earth production program.
Pursuant to Stans’ press release on September 13, 2010, Stans and its Russian partners are completing their survey of the Rare Earth potential of Russia, and will continue further due diligence on selected heavy rare earth properties for joint acquisition.