TSXV:HRE.H - Post by User
Post by
barb-e-qon Dec 10, 2013 7:38pm
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Post# 21992275
Perhaps this will help
Perhaps this will helpThere are two issues!!!
Ever since April 1st of this year, when the Kyrgyzstan Government suspended the mining license, Stans has been attempting to get "it's day in a Kyrg's court" to get it back. But to no avail. It has resulted in postponement after postpontment.
According to David Vinokurov, Vice President of Corporate Development, the plan was always to obtain the license back and then file the, International Arbitration immediately following, for the loss of production and harassment the company has experienced over the last few years.
When the hearing was once again postponed in late October, again after numerous attempts, Stans realized that they were beating their heads against a wall with these people and proceded to file the "pre-prepared arbitration" suit in Moscow. This action was a wake-up call and is meant to cover both issues A) They want the license back B) We mean business and now you will pay for the harassment and our loss of production.
Again, hope this helps!!!