Stans Energy Corp. (TSXV:HRE,OTCQX:HREEF) announced that the State Agency for Geology and Mineral Resources of the Kyrgyz Republic has okayed its request to separate the Kargysh mineralization zone from the Kyzyluraan field prospecting license.
As quoted in the press release:
The SGA issued the Stans Energy KG license for subsoil use within the Kargysh Ore Occurrence of the Kyzyluraan area for geological exploration of vanadium, molybdenum and uranium for 3 years until June 16, 2017. The size of the new Exploration Licence Area is 701 hectares.
The second Company submission to the SGA is to reduce the size of its Kyzyluraan Field Prospecting Licence from 252.82 sq. km to 124.19 sq. km is still under SGA consideration. This would substantially reduce the annual licencing fees paid by the company to the SGA. Once this submission is approved the Company will issue an update outlining the savings.