Stans signs memorandum of cooperation for major potash deposit
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TORONTO, ON / ACCESSWIRE / December 6, 2021 / Stans Energy Corp. (“Stans” or the “Company”) is pleased to announce that it has signed a Memorandum of Cooperation (the “MOC”) with TradePromService LTD (hereinafter “TPS”), a Russian limited liability company, for an option to acquire 100% of the Yakshinskoye potash deposit.
Under the MOC, Stans and TPS (together the “Parties”) have agreed to undertake a project development program which will result in:) Bank feasibility study (at the end of steps “a” and “b”). Option agreement negotiations will begin upon completion of the Measured Mineral Resources Report.
The detailed technical information provided to Stans by TPS was reviewed, verified and resulted in detailed recommendations which were provided to the TPS team. This in-depth review was led by the Company’s Qualified Person, Dr Gennady Savchenko FGS London, Director of International Mining Operations at Stans.
The JORC report prepared by the ERCOSPLAN group (Germany) from data from 18 drill holes estimates the indicated mineral resources of the deposit at: Sylvinite: 189 million tonnes at 23.9% KCl; Carnallitite: 935 million tonnes at 13.9% KCl.
The pre-feasibility study prepared by the ERCOSPLAN group recommends solution mining as the best option for carnallitite horizons that should be mined during the first phase of deposit development, and provides a business and financial model for the rate of production of 1 million tpa.
“This MOC represents an exciting new opportunity for Stans and our stakeholders as we embark on the path to the development potential of a world-class fertilizer production property. The experience of the Stans team in the ISL deposit development will be used in this exciting project, and we are confident that our technical team and management at Stans are up to the task, ”said Rodney Irwin, Interim President and CEO.
Debt Settlement Actions
The company reports that COO Boris Aryev received 1,400,000 shares at a price of $ 0.05 per share to settle a partial debt due to wage arrears dating from July 2019 to October 2021. The agreement Stock settlement for the debt was approved by Stans’ board of directors on December 3. , 2021.
About Stans Energy
Stans Energy Corp. is a resource development company focused on advancing rare and specialty metal processing properties and technologies. Previously, the Company had acquired, among other things, the right to operate the former Kutessay II rare earth mine in the Kyrgyz Republic. Due to the expropriation measures taken by the government of the Kyrgyz Republic, the Company initiated international arbitration to protect the rights of the Company and, in August 2019, won the arbitration, including further damages. of $ 24,000,000 plus interest. The rights to collect damages have been ceded to litigation funders to reimburse funding provided under the litigation funding agreements.
We seek refuge.
Stans Energy Corp
Interim President and CEO
Stan Energy Corp
FORWARD-LOOKING STATEMENTS: This document includes forward-looking statements as well as historical information. Forward-looking statements include, without limitation, the use of proceeds from the offering, the making of the offering and the continued advancement of the Company’s general business development, research development and project development. mineral exploration company. When used in this press release, the words “will”, “must”, “anticipate”, “believe”, “estimate”, “expect”, “intention”, “could”, “Plan”, “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 cannot be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements include the potential for fluctuations in the market for the sale of minerals, the inability to market. implementation of corporate strategies, the ability to obtain financing and other risks disclosed in our filings with Canadian Securities Administrators.
THE SOURCE: Stans Energy Corp.
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