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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

Bullboard Posts
Post by opencurtainon Sep 24, 2014 8:37am
323 Views
Post# 22965031

Stans energy Kutessayu created a commission

Stans energy Kutessayu created a commission
Stans Energy: By Kutessayu created a commission
  09/24/14 15:49
  Nazgul Begalieva
Since August 2014, an interdepartmental working group to develop a mutually acceptable terms for a possible settlement agreement with Stans Energy Corp. On this day, September 25, the company said.
 
Stans Energy lawsuit did not prevent the preparation for the competition Kutessaya  1
The letter reminded that previously Head of the Department of the fuel and energy complex and subsoil of the government staff Turatbek Dzunushaliev reported, "WB" on the removal of license for rare earth mine Kutessay II and preparation of tender.
 
"He forgot to mention the license to develop the field of beryllium Kalesay, closely adjacent to the first deposit. At the end of 2009 at the auction of the Kyrgyz Stock Exchange company acquired 100% of shares of" Kutisay Mining "with licenses for both deposits for $ 855 thousand. Later it turned out that the field Kalesay since the Soviet era is off-balance sheet that is non-industrial object. However, in 2009 it was wrongfully made by the government in the list of fields distributed on a competitive basis with payment of the bonus. Incidentally, in June 2013 field Kalesay already assigned to the fields of national importance and still is among them today, "- the report says.
 
The company recalled that Dzunushaliev previously stated that the Government did not intend to go to the world now Stans Energy Corp.
 
But in August 2014 was created and operates an interagency working group to develop a mutually acceptable terms for a possible settlement agreement with Stans Energy Corp. As a result of recent litigation between the General Prosecutor's Office and the State Agency for Geology and Mineral Resources decisions were made in favor of the first, formal license is revoked and are the property of Stans and its subsidiaries in Kyrgyzstan. According to the Law "On Subsoil" Only State Agency for Geology has the legal right to revoke licenses for subsoil use, and only under very specific combination of circumstances. According to our lawyers, these circumstances are not violated and the State Agency for Geology today there is no legal justification for the revocation of licenses belonging Stans ", - the report indicates.
 
In his address, company, referring to the preparation of statements Dzhunushalieva competition for deposits, notes that there is no reason for this.
 
"Due to the necessity of Implementation of the International Arbitration Court of the Moscow Chamber of Commerce on payment of $ 118 million in investment lawsuit Stans Energy Corp, the government legally there is no reason to start the process for the preparation of the license of the company to be placed on the official tender or auction. Management on date not received any official notification from the State Geology Agency of the execution of the revocation of a license and training field for the contest, "- said in a statement.
 
Note, June 30 The International Arbitration Court decision ordered the government of Kyrgyzstan to pay a Canadian company Stans Energy Corp. $ 118.2 million for the revocation of a license for the deposit Kutessay. The Kyrgyz government, in turn, announced its intention to appeal the decision of the international arbitration on the claim Stans Energy .
 
Recall that in 2012 at the initiative of the deputies of the parliamentary faction "Ar-" relevant authorities was canceled license Stans Energy to the field.
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