Latest from David V 31/07/2012 BOY!!! DID THE SHAREHOLDERS GET THE NEWS RELEASE WRONG!!!
PLEASE READ THE FOLLOWING!
Our email to David:
I suppose you're not surprised to hear from me considering the latest course of events and news releases.
There seems to be major confusion as to exactly what has transpired and just what course of action Stans is taking with respect to these events.
The question is: Did certain factions of K/G government flair up once more, rear it's ugly head, and attempt to initiate negative action or is this a continuing action taken by Stans in response to past events, in the interest of the company's future relations with the country, government and shareholder protection.
As usual I will post you're response on the Stan's board.
Thanks kindly, as usual, for taking the time to respond.
Sincerely Yours, "
David's reply:
"There has been NO decision to revoke our licence. That proposal was put forth by the committee that we are now taking legal action against. We have mentioned in previous releases that unfounded comments and actions were being conducted against the company. This committee does not have the authority to take any actions. In the meantime it is business as usual for Stans and we continue to work with the State Geological Agency to finalize our Licence Agreement, which will be completed by September 30th.
The granting of the Licence Agreement on June 15 was in full compliance with all Kyrgyz laws. The unanimous approval by the 14 member expert panel was a vindication of the progress that Stans has achieved.
Since we acquired the 20 year Mining Licence, there have been several changes of government, and with each change, audits have been conducted on our compliance with Kyrgyz legislation. With each audit, Stans was proven to be in full compliance, and this recent committee recommendation, we feel is baseless. Furthermore, we were not given the opportunity to respond to any of their accusations. This lack of due process and lack of transparency on this committee’s part is the cause for our lawsuit, and we are confident that upon further review by the courts our legal standing will be justified.
Our legal and community out-reach teams in Kyrgyzstan are working diligently to resolve these issues and more information will be provided as it becomes available.
Regards,
David"