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Stans Energy Corp V.HRE.H

Alternate Symbol(s):  HREEF

Stans Energy Corp. is a Canada-based resource development company focused on advancing rare and specialty metals properties and processing technologies. The Company is transitioning into a supplier of materials and technologies that will assist in satisfying the future energy supply, storage and transmission needs of the world. Its subsidiaries include SevAmRus CJSC, Kutisay Mining LLC and Kashka REE Plant Ltd.


TSXV:HRE.H - Post by User

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Post by sonoutlawon Jun 27, 2012 11:35am
429 Views
Post# 20059480

Another Translation

Another Translation

Bishkek. June 26. KirTAG - Zamir Ibraev.

Jogorku Kenesh offer to cancel the license of "Kutessay Mining" on the extraction of rare earth metals. It is reported by a correspondent of the KirTAG Parliament on Tuesday.

Members of the Committee on Development industries Jogorku Kenesh decided to recommend to cancel the prolongation of the license agreement of "Kutessay Mining" occupied by the production of rare earth metals, and put mine up for auction.

As the deputy of the faction "Ar-Namys" Nurzhan Badykeeva, State Agency for Geology and Mineral Resources, prolonged second license agreement June 15, 2012, and at the same company for the extraction of rare earth metals "Kutessay Mining" has not fulfilled the conditions of the first and second licensing agreements.

As noted by the deputy, the first licensed company received December 21, 2009, which was issued on the drafting of the field development Kutessay II until December 31, 2010. This agreement was not executed in connection with which violated paragraph 3 of Art. 18 of the Law "On Subsoil".

"September 20, 2010 issued a new license agreement for the same field, but with different coordinates, that is, in fact, a new area, which is 75% not the same as the previous area. Under the new agreement, the company had to submit a project to develop up to 31 December 2011, but there was a second violation of the law "On Subsoil", - said N.Badykeeva.

"At the same time the law states that ... the right of subsoil use license revocation is terminated ... if within a specified in the license agreement is not represented by the technical project for works" - said the deputy.

The MP explained that the reasons for failure, without justification license number 2, June 15, 2012 issued a new license agreement.

"The license was issued without an auction, without the knowledge of deputies. According to a letter from the Attorney General July 17, 2011, has been audited and there is a conclusion of the committee, stating the main points.

As noted by the deputy, the field takes the 6th place in the world reserves of rare earth metals. And since China suspended the sale of its stock, this field is of great interest to investors.

Head of State Agency on Geology and Mineral Resources of the KR Uchkun Tashbaev said that the company has done a lot to fulfill the terms of license agreements.

"We have this issue (renewal license number 2 - KirTAG) considered at a meeting of the interdepartmental commission, which consists of 14 members. All the members have studied the draft license agreement. If we cancel a license, then we can expect litigation "- said U.Tashbaev.

MP of the faction "Ar-Namys" Igor Gusarov said that U.Tashbaev reminds counsel of the company, which has twice failed to comply with the license agreement.

"Let's put all the same conditions, and if the company failed to meet them, then it is necessary to deny the license. This explicit scheme, when the June 15 and take the sign, and no one knows. Do not be afraid of ships, "- said I. Gusarov.

Recall ore reserves of rare earth materials in the field Kutessay II by Soviet explorers estimated at 53 thousand tons. Currently, the company drilled six additional wells on the bottom horizon of the field for 120 meters and discovered additional ore deposits.

In 2013, the plant is scheduled to open Kashkinskogo rare earth elements. At the present time in the shops, bought a former kyrgyzskogo Chemical-Metallurgical Plant is carried out major repairs of equipment and facilities.

As reported previously KirTAG, it is planned that in 2013 the gross output of $ 30 million in 2014 - $ 40 million company, which includes the Ak-Tyuzskuyu ore processing factory will create 1.5 thousand jobs in the region.

Note that the LLC "Kutessay Mining" LLC is a subsidiary of Stans Energy Kg, founded by the Canadian company Stans Energy Corp.

Stans Energy Kg The company has a license to use subsoil for geological exploration and development of mineral deposits: Kutessay II (rare earth metals, bismuth, molybdenum, and silver) deposit Kalesay (beryllium, lead).

Rare-earth elements used in various branches of technology: electronics, instrumentation, nuclear engineering, mechanical engineering, chemical industry, metallurgy, etc. They are also used in the manufacture of some explosives, special steels and alloys, as getters. Single-crystal compounds of rare earth elements (as well as glass) used to create laser and other optical active and nonlinear elements in optoelectronics.

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