A Toronto-based junior whose chairman, Rodney Irwin, is the former Canadian ambassador to Russia and currently Honorary Consul for the Kyrgyz Republic to Canada, has bought its fifth mineral property in Kyrgyzstan.
Stans Energy’s (RUU-V) latest acquisition in the former Soviet republic is Kutessay II, a former rare earth elements (REE) mine.
The open-pit mine previously produced about 80% of the former Soviet Union’s REEs between 1960 and 1991.
Kutessay II produced all fifteen REEs along with lead, zinc, silver, bismuth, molybdenum, thorium, tin and copper. Kutessay II also contains niobium, tantalum, and hafnium, the company says.
The past-producing mine is about 140 km from Bishkek, Kyrgyzstan’s capital, and about 43 km from a rail line.
Stans Energy says that Kutessay II contains all 15 REEs, with a 50:50 ratio of light REEs to heavy REEs.
Kutessay II concentrate was refined into 120 different REE compounds, Stans Energy says.
The junior acquired 100% of the Kutessay II deposit and 100% of the Kalesay beryllium deposit from the Kyrgyzstan government for US$855,000.
The company has already started a feasibility study that is looking into restarting the mine.
The company says it will be working with the “original Russian engineering institutes that designed the mine, mill and processing plants to modernize the efficiency of producing the end products that were mined.”
There is a vast database on this past-producing mine and Stans is in the process of translating the information so it can be made available to investors.
At presstime Stans Energy was trading at 33¢ per share. It has traded in a 52-week range of 1.5¢- 15¢ per share.
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