The Conversation (4)
Stans Energy Corp. (TSXV:HRE,OTCQX:HREEF) received an extension to its Licence Agreement within the Company’s mining licence to mine REE until December 31, 2014.
As quoted in the press release:
This period will provide Stans Energy Corp. with the necessary time to prepare Kutessay II for production. Stans’ existing Mining Licence will govern the production period at Kutessay II, which is valid through December 31, 2029.
The Licence Agreement allows the Government of Kyrgyzstan and Stans Energy Corp to structure a framework for a private-public partnership that will be negotiated over the next three months. The details of this partnership will be negotiated within the boundaries of laws of the Kyrgyz Republic. Currently, those laws do not require a company with an existing licence to transfer any fixed ownership percentage to government authorities.
Stans Energy CEO and President Robert Mackay said:
“The negotiations between the Kyrgyz Government and Stans Energy will allow us to structure an agreement that will benefit both our shareholders and the people of Kyrgyzstan. By establishing a blueprint for a public-private partnership, we feel that the company will have a fully defined process for moving the project closer to production. This cooperation with the government-appointed representative will assist Stans Energy in furthering the advanced off-take discussions with international governments and companies that are seeking non-Chinese sources of rare earths. I would like to thank our numerous supporters in Kyrgyzstan, especially the village of Aktyuz where the mine is located, who have actively assisted us in realization of our projects. With the support of the Kyrgyz Government, Stans Energy hopes to raise Kyrgyzstan’s investment profile and work towards attracting direct foreign investment to the local economy,”
Click here to read the Stans Energy Corp. (TSXV:HRE,OTCQX:HREEF) press release
Click here to see the Stans Energy Corp. (TSXV:HRE,OTCQX:HREEF) profile.