Stans Energy Corp. Inks a Memorandum of Cooperation for Potash Deposit

Dec 7, 2021 By MarketDepth

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Stans Energy Corp. (TSX-V: HRE) (OTC: HREEF) announced its entry into a Memorandum of Cooperation with TradePromService LTD late in the day on Monday, December 6th for an option to acquire 100% of Yakshinskoye potash deposit. 

Premarket Gain

Shares of Stans Energy Corp. (TSX-V: HRE) gained over 50% in premarket trading after the announcement.

“This MOC represents an exciting new opportunity for Stans and our stakeholders as we embark down a path of the potential of developing a world class fertilizer production property. Stans’ team experience in the development of ISL deposits will be utilized in this challenging project, and we are confident that our technical team and Stans’ management are up to the task.” 

Rodney Irwin, Interim President and CEO

Negotiations surrounding the option agreement for the acquisition of the potash deposit would commence upon completion of the Measured Mineral Resources Report.

18 Drill Holes

According to the company’s press release, the JORC Report prepared by ERCOSPLAN Group (Germany) using 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.