RE:RE:RE:RE:RE:Trading on the Canadian Exchange to Resume SoonThis is the last update I could find (not the financials) specifically on Stans project situation. The lithium issue is on hold due to internal ARMZ issues of which Stans has no idea about. Nor is there any clarity as to where Stans is with their ‘...preliminary assessment of the economic efficiency of the (gold) project’. I am not sure what Stans would buy such a Russian gold project with even if they felt comfortable with a company run by one person who appears to hold around another 10 'companies' some of which have only a few US dollars as capital and one single owner/member. Maybe someone who has a Stans contact can get an update on these 2 projects? TORONTO, ON / ACCESSWIRE / February 27, 2020 / Stans Energy Corp. ("Stans" or the "Company") is pleased to provide the following updates:
Lithium Project The negotiations with Joint Stock Company Atomredmetzoloto ("ARMZ") of the terms of the joint venture ("JV") to restart production of lithium concentrate at the Zavitinskoye mine site are on hold due to ARMZ internal issues unknown to us. MOU signed for the new project The Company signed an MOU with JSC "Promnedra-Regions" (hereinafter Promnedra) the owner of the mining License for the development and extraction of gold at the Lobash-1 deposit which is valid until 10.30.2030.
Stans is interested in acquiring the right to a license by acquiring 100% of the shares of
Promnedra upon review of the extensive documentation provided by
Promnedra.
The indicated reserves of the deposit were approved by the State Committee for Reserves of the RF on February 17, 2010 in the amount of 34.48 tonnes of gold, 126,200 tons of copper, and 173.3 tons of silver at cut-off grade of 0.3 g/t of Au (Note: Russian Mineral Reserves Estimates Code is not compatible with NI 43-101).
The Parties agreed that the structure of the transaction for the acquisition of rights will be determined by the parties after a preliminary assessment of the economic efficiency of the project.
GLTA -
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