TORONTO, ON / ACCESSWIRE / February 27, 2020 / Stans Energy Corp. ("Stans" or the "Company") is pleased to provide the following updates:
Lithium Project
The negotiations with Joint Stock Company Atomredmetzoloto ("ARMZ") of the terms of the joint venture ("JV") to restart production of lithium concentrate at the Zavitinskoye mine site are on hold due to ARMZ internal issues unknown to us.
MOU signed for the new project
The Company signed an MOU with JSC "Promnedra-Regions" (hereinafter Promnedra) the owner of the mining License for the development and extraction of gold at the Lobash-1 deposit which is valid until 10.30.2030.
Stans is interested in acquiring the right to a license by acquiring 100% of the shares of Promnedra upon review of the extensive documentation provided by Promnedra.
The indicated reserves of the deposit were approved by the State Committee for Reserves of the RF on February 17, 2010 in the amount of 34.48 tonnes of gold, 126,200 tons of copper, and 173.3 tons of silver at cut-off grade of 0.3 g/t of Au (Note: Russian Mineral Reserves Estimates Code is not compatible with NI 43-101).
The Parties agreed that the structure of the transaction for the acquisition of rights will be determined by the parties after a preliminary assessment of the economic efficiency of the project.
Legal Update
The Company continues negotiations with the Funder regarding their relations moving forward to the Recognition and Enforcement Proceedings.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
About Stans Energy
Stans Energy Corp. is a resource development company focused on advancing rare and specialty metals properties and processing technologies. Stans is now transitioning to become a supplier of materials and technologies that will assist in satisfying the future energy supply, storage and transmission needs of the world. Previously, the Company acquired, among other things, the right to mine the past producing rare earth mine, Kutessay II, in the Kyrgyz Republic. Due to the expropriation actions taken by the Government of the Kyrgyz Republic, the Company is undertaking international arbitration litigation to protect the Company's rights and recover damages caused by the Republic.
We seek safe harbour.
Contact Details:
Rodney Irwin | Boris Aryev |
FORWARD LOOKING STATEMENTS: This document includes forward-looking statements as well as historical information. Forward-looking statements include, but are not limited to, use of proceeds from the Offering, the completion of the Offering, the continued advancement of the company's general business development, research development and the company's development of mineral exploration projects. When used in this press release, the words "will", "shall", "anticipate", "believe", "estimate", "expect", "intent", "may", "project", "plan", "should" and similar expressions may identify forward-looking statements. Although Stans Energy Corp. believes that their expectations reflected in these forward looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statement. Important factors that could cause actual results to differ from these forward-looking statements include the potential that fluctuations in the marketplace for the sale of minerals, the inability to implement corporate strategies, the ability to obtain financing and other risks disclosed in our filings made with Canadian Securities Regulators.
SOURCE: Stans Energy Corp.
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