The Conversation (0)
Stans Energy Corp.(TSXV:HRE) announced the approval of its license agreement extension. The extension was approved by the Licensing Committee of the State Geological Agency of Kyrgyz Republic.
As quoted in the press release:
The Licence Agreement process reviewed the works done to date that Stans Energy has implemented to further the progress towards production at Kutessay II and its required infrastructure. A detailed plan was submitted to the Kyrgyz authorities as per the conditions of the past Licence Agreement, which was then audited and evaluated by the 14 experts of the Licencing Committee at the Kyrgyz State Geological Agency. The final decision to sign the new Licensing Agreement #3 was based on these evaluations, and is the basis for the framework that Stans is eager to negotiate in order to establish a public-private partnership and bring Kutessay II back to full production.
Stans Energy, CEO, Robert Mackay, stated:
We have always worked within the laws of Kyrgyzstan, and we are meticulous in our adherence to the rules and guidelines set out within our licence agreements. We believe in the people of Kyrgyzstan and the potential of the country. Proof of this statement lays in the fact that we have invested 7 years of our time and over $18,000,000 Canadian dollars (over 800,000,000 Kyrgyzstani Soms) of our shareholders’ money in Kyrgyzstan. With the help of the Kyrgyz government, Stans Energy has the opportunity to become an international leader in the development of heavy rare earths and possibly the development of downstream heavy rare earth products for high tech industries. This business will employ hundreds of Kyrgyz citizens and develop professional skills needed to continue Kyrgyzstan’s progress as a nation.
Click here to read the Stans Energy Corp. (TSXV:HRE) press release
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