Stans Responds to Comments Made in Kyrgyz Media

- September 15th, 2014

Stans Energy Corp. (TSXV:HRE,OTCQX:HREEF) responded to comments made recently to media in the Kyrgyz Republic by Turatbek Dzhunushaliev, head of the country’s Department of Fuel and Energy Complex and Subsoil Use.

Stans Energy Corp. (TSXV:HRE,OTCQX:HREEF) responded to comments made recently to media in the Kyrgyz Republic by Turatbek Dzhunushaliev, head of the country’s Department of Fuel and Energy Complex and Subsoil Use.

Among other things, Dzhunushaliev said Stans’ licenses for the Kutessay II and Kalesay deposits are being prepared for auction.

As quoted in the press release:

Notwithstanding recent court cases between the General Prosecutors Office (‘GPO’) and the State Agency for Geology and Mineral Resources of the Kyrgyz Republic (‘SGA’), the licenses for Kutessay II and Kalesay have not been formally revoked and remain in full possession of Stans and its Kyrgyz subsidiaries, albeit under a stop work order for the Kutessay II and Kalesay licenses. According to the Laws on Subsoil of the Kyrgyz Republic, only the SGA has the legal authority to revoke any subsoil licenses and only under a very specific set of circumstances. According to our legal team those circumstances have not been breached and as such the SGA has no legal standing to revoke Stans’ licenses. In regards to the Mr. Dzhunushaliev’s comments, the SGA has no grounds to prepare the Company’s licenses for any official tender or auction process.

Management has received no indications from the SGA that revocation of any licence is in progress.

Click here to read the full Stans Energy Corp. (TSXV:HRE,OTCQX:HREEF) press release.

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