BISHKEK, February 01, 2021 – Neon Mining Company ( “Neon” or the “Company”) announces that it has offered Stans Energy Corp, Canada based mining company and developer of clean technology for the mining and refining of Rare Earth metals, to merge and jointly develop Rare Earth production business in Kyrgyzstan.
Neon holds 100% interest in the Chon-Kaindy Property in the Kyrgyz Republic – one of the largest new porphyry copper-gold discoveries in recent years characterized by potentially very large tonnage of ore and high grades of Cu.
The Company aims to diversify and extend its outreach into the fast-growing “Clean Energy” metals market, to become a reliable supplier of Rare Earths, Lithium, Cobalt, Nickel, Manganese, and other battery-related materials.
Pursuing the goal, Neon has recently applied for and is currently in the process of acquiring the license for Kutessay II Rare Earth Property, located in the Aktyuz Ore Field, Kemin District, Chui Oblast, Kyrgyz Republic, 140 km east of Bishkek, the Kyrgyz capital.
The Kutessay II was discovered in the 1950s, has been the Soviet Union’s main source of Rare Earths for decades, and still has a significant amount of Rare Earths unmined left. When restarted, Kutessay II will contribute to the world’s more reliable RE procuring and supply chain diversification.
“ I believe that combining Neon’s more than 10 years’ experience of work in the Kyrgyz Republic, its highly experienced team and solid foundation, and Stans’ Rare Earth expertise and proprietary extraction technology, we can create a great synergy to benefit both of our companies shareholders,” commented Andrey Dolgiy, President and CEO. “Amalgamation of our companies would give us the momentum necessary to ride the opportunities available on today’s highly dynamic global market,” continued Mr.Dolgiy.
About Stans Energy Corp
Stans Energy Corp is an exploration and development company. It is engaged in the acquisition and development of mineral deposits such as uranium, rare earth elements, gold, and base metals. Geographically, its business is seen across the region of Canada, the Kyrgyz Republic, and Russia.
In 2009, Stans Energy Corp obtained mining licenses to develop the Kutessay II and Kalesay rare earth elements deposits in the Kyrgyz Republic. The licenses were later canceled by the authorities on the basis of irregularities in the grant of the licenses, according to the King & Wood Mallesons, the Kyrgyz Republic attorney.
While being the holder of the Kutessay II license, Stans Energy Corp. developed a proprietary technology of rare earth mining, refining and extraction, and, also, acquired and modernized the Kashka rare earth extraction plant in the Kemin District of the Kyrgyz Republic. The plant is still in possession and under maintenance of the Stans Energy Corp.
On behalf of Neon Mining Company
Andrey Dolgiy
President & Chief Executive Officer
adolgiy@neon-mining.com
Vladislav Duba
VP Business Development
vduba@neon-mining.com