A lot of details in this article !!!

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Operating Officer «Stans Energy Corp.»: «Give us a chance to work"

January 29, 2013, 16:02

 

In late 2009, a public company «Stans Energy Corp.», Listed on the Toronto Stock Exchange in Canada, acquired at the Kyrgyz Stock Exchange 100% of shares of "Kutisay Mining" (now the LLC "Kutisay Mining"), which owned the license for the deposit Kutessay II, Located in the Kemin district of Chui oblast. Recently, around the company is much talk, and therefore K - News turned to Boris Ariev, COO «Stans Energy Corp.», Member of the National Board of Directors of the Canadian Business Association in Russia and Eurasia, and to clarify the situation around companies .

Tell me what's going on with your subsidiaries in Kyrgyzstan?

I think it is time to say openly that, since June last year, is an attempt to uniform corporate raid facilities owned by our subsidiaries in Kyrgyzstan. This is evidenced by the actions of individual deputies of the Parliament of the Kyrgyz Republic, and officials from the Kyrgyz authorities. In connection with the situation around the activity of LLC "Kutisay Mining", which owns the license to the field today Kutessay II, we were forced to make a statement in order to deliver to the public about the real situation in the field and save the reputation of the company.

You are charged that «S tans E nergy C orp.» Illegally obtained a license for this deposit. What can you say to this?

This accusation is groundless. In December 2009, investors «Stans Energy Corp.» Through its subsidiary LLC "Stans Energie Kay Gee," acquired at the Kyrgyz Stock Exchange 100% of shares of "Kutisay Mining", which already owned a license to mine Kutessay II, and the license has been issued for a period of 20 years. We paid for these shares 860,000 U.S. dollars, and as our lawyers, we are a bona fide purchaser. We never broke Kyrgyz laws, all should understand that «Stans Energy Corp.» - Is a public company, and it is closely monitored its many shareholders in the U.S., UK, Australia, Canada, Russia and several other countries. All information about the company is quickly on its website that is accessible to everyone.

Do you know people who are fighting for a license to mine Kutessay II?

Yes, well known, they are not hidden. This LCD deputy faction "Ar-" Nurzhan Badykeeva , Chairman of OJSC "Kyrgyz Chemical and Metallurgical Plant" Boronchu Mamyrkanov, NGO "Ak-Tuz Platinum", founded by the current mayor Kemin district Izabaev and relative of the head of Ak-Tuz AO Usubakunov. Actively involved in this process LLC "Central Asia Metals Group", the former holder of the deposit Kutessay II. The main share holder in the company is a Chinese company, "Baotou Hongbo technology company." However, the remarkable fact: as it turns out, including four members of the LLC "Central Asia Metals Group" on the official website of the Ministry of Justice of Kyrgyzstan said Mr. Abdykanat Bayalinov, who is deputy assistant LCD Nurzhan Badykeevoy. And the original stake in the company was his mother, Ms. Bayalinova, wife Abdysapara Bayalinova, close ally of the party leader, "Ar-". Interestingly, LLC "Central Asia Metals Group" was licensed to mine Kutessay II in 2006, and the disposal of the government signed Kulov , was engaged in those years as prime minister. With 40% of the company owned by Ms. Bayalinova, the mother of the current deputy assistant Badykeevoy. Licensed for 20 years, was married to a much smaller amount. This begs the question, how could she win the tender for the field, the development of which requires an investment of over 300 million dollars? The fact that she later sold much of its share of the Chinese company, confirms that it has no plans to field development, and that the whole transaction is likely pursuing a purely speculative purposes.

Why do you think that they are fighting against you?

Available by MP Badykeevoy illegal decisions of the Committee LCD requiring revoke the license, are the reason for the creation of various types of extra-legal commission to check the activities of the company. A few days ago we received a response from the Prosecutor General's Office of the Kyrgyz Republic, which says, and I quote: "It is established that during 2011-2012, the General Prosecutor of the Republic repeatedly received treatment LLC" Central Asia Metals Group "NGO" Ak-Tuz Platinum ", MP Jogorku Kenesh Nurzhan Badykeevoy to verify compliance with the LLC "Kutisay Mining" of the Law "On Subsoil" when using the license to mine rare earth metals Kutessay II ». By the way, check all these appeals held Mr. Curly SA In our view, check it conducts a biased and unilaterally, without taking into account the current legislation. To our request to be replaced or added to the number of inspectors has one employee, January 18, 2013 the main country supervisor refused. And the letter from the company, addressed to the Attorney General, the answer given to the Deputy Head, in which, apparently, and works curly.

As I understand it, in the last two years, you do not give work quietly. In your opinion, why is this?

Yes, I think that is the key issue for the understanding of the situation created us. As I said, we are a public company, whose work is regulated by Canadian law and supervised by the Securities and any illegal acts are punished in public. On the other hand in the KR laws often exist only on paper and simply ignore, even the decisions of the courts. A liability for the dissemination of rumors and slanders straight difficult to achieve. For example, in one of the newspapers published in Bishkek absolutely absurd article where all but quoted Prosecutor General and security officers, who "found" God knows what. In this case, ordinary people "swallow" the lie, and the organs are silent. Specifically, we have identified a group of people in power, and next to her, who want to revoke our license to mine Kutessay II. They raised a lot of noise around it. Moreover, such a picture is not only here, but also in some other mining companies. Go arrests of officials, the country has created a situation where the latter are afraid of and do not want to make decisions, neither positive nor negative. This explains the creation of various commissions, or simply ineffective.

You accept the facts?

Of course I can. Only in the last two years, the Agency for Geology was established more than three committees to check our work, but the decision on the merits will not be accepted. Recently, we learned that in the depths of the Ministry of Economy, an interdepartmental committee involving security forces, which verifies our activities, but for some reason, this commission is classified. As we know, the idea of ??this informal committee arose in the government, and the meaning of it is that with the help of independent experts to deal with the situation created around several mining companies. It was necessary to understand the legal side of issues to make the right decision. It seems that the idea was good, but when it was implemented, it turns bad for us the consequences of its creation.

Now the management of the Agency on Geology, in the performance of the new law on subsoil must sign the license application to us for our license to mine Kutessay II, does not it, waiting for the result of this mezhvedkomissii. We understand that for this reason the Agency does not contribute to the Commission on subsoil licensing two other issues our companies: a request for signing the license application for a license to mine "Kalesay" and a request for extension of the license for geological exploration of the Ak-Tuz licensed area. These applications are pending with the Agency for over 13 months.

We come to the conclusion that it is the fear of being accused of lobbying for our company not allow officials of ministries and agencies to perform their duties in good faith. This also explains the fact that the trade secret mezhvedkomissiya not work.

What's the story with the fact of falsification of the Protocol under license ? 3 to the license for the deposit Kutessay II?

June 15, 2012 between us and the State Agency for Geology and Mineral Resources have signed a license agreement number 3. The agreement was signed on the basis of the Commission meeting on licensing of subsoil use. At the meeting of the Commission participated Director General LLC "Kutisay Mining" and lawyer of the law firm of "Partner", was giving us legal advice. Therefore, launched in January this year on the sites of some media reports that alleged such a meeting was not, and protocol committee falsified former director UCHKUN Tashbaev is unreliable. I was told that the meeting was conducted during filming. In addition, all members of the Commission confirmed that such a meeting was, as it addressed the issue of the transfer of shares in the company to the state and the fact that we have agreed to the transfer, did not like the Commissioner Aktilek Tungatarova , executive director of the International Business Council, which considered improper demand that the shares and this was reflected in the minutes posted on the website of the Agency.

Who but your shareholders suffer from attacks on your company?

Definitely, suffer from common citizens of Kyrgyzstan - Ak-Tyuz residents, Orlovka and Clover. They quite rightly said this at a recent press conference. The fact is that because of the inaction of the Agency for Geology leadership they lose money that can go to the social development of the community in these settlements. As long as officials do not decide favorably on our fields and Ak-Tuz licensed area, we can not list the local government license fees and provide their benefits package.

By the way, what are your costs for your properties?

Total costs LLC "Kutisay Mining" for pre-work and planning in the field Kutessay-II totaled 74.19 million soms costs LLC "Stans Energie Kay Gee" on exploration totaled 84.28 million soms (the planned 36.9 million soms) . In parallel, in order to accelerate the release of rare earth products, conducted damage control, debugging technology to extract rare earth elements, restoration shops number 2 and number 3 in the village of Clover redeemed us in mid-2011 for 255.09 million soms from OJSC "Kyrgyz Chemical Metallurgical Plant "and is now owned by the LLC" Plant Kashkinsky rare earth elements. " The cost for this work in 2011-2012 amounted to 148.71 million soms. Thus the total cost just for the years 2011-2012 amounted to over 560 million soms.

In August 2012 the deposit Kutessay II created a production station number 1 ("Kutessay"), which is currently in maintenance of buildings and structures in the old career and after approval of project documentation begin to repair and restore the process of roads, drainage facilities and cleaning benches .

How many jobs are being created?

Today, the total number of engineering and technical personnel and workers associated with the project "Kutessay II», to 107 people, most of them residents of Ak-Tyuz, Clover and Orlovka. We plan to create a training center in the Ak-Tyuz for training workers from the local community and further attract them to work in the field Kutessay II.

What about charity help?

In 2010-1012 the company provided charitable assistance amounting to $ 9.04 million soms, including 6.68 million soms Ak-Tuz aiyl okmotu and township high school, veterans, low-income and large families of the village. This year, the planned aid in the amount of not less than 4 million soms.

Summing up to the above, you have something with which to apply to the government?

First of all I would like to appeal to the leadership of the country, the government, the security forces to protect our company from the endless attacks and insinuations and give us the opportunity to run the project. We can confidently state that an objective for our company by the Kyrgyz government and the real support of the project by the Government, we will implement the project and output production at full capacity, creating a lot of jobs and ensuring a stable income to the state budget.

 

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