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Stans, ARMZ to evaluate partnership for Zavitinskoye lithium mine redevelopment

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Stans, ARMZ to evaluate partnership for Zavitinskoye lithium mine redevelopment

Stans Energy Corp. and ARMZ Uranium Holding Co. are evaluating the potential for a partnership to redevelop the Zavitinskoye lithium mine in Russia's Trans-Baikal region.

Earlier, Stans entered a binding memorandum of understandings with Pervomayskiy GOK LLC and ARMZ for the joint development of the Pervomayskiy lithium stockpile.

After further evaluation, the companies believe that the best course of action for the development of a lithium production program would be to evaluate the restart of the Zavitinskoye mine operations, Stans said in a Dec. 11 release.

Certain technical and legal issues prevented Stans and ARMZ from conducting the necessary geological sampling to evaluate the Pervomayskiy stockpile. ARMZ will instead begin an internal scoping study on the Zavitinskoye mine, with completion targeted by March 2018.

Upon completion of the scoping study, Stans and ARMZ will enter a joint project development program and partnership arrangement.

The value of including the infrastructure assets of Pervomayskiy in Stans and ARMZ's development of the Zavitinskoye project will be re-examined upon the completion of the study.