Stans Energy Corp. and ARMZ Uranium Holding Co. agreed to expand the original memorandum of understanding for evaluating a possible partnership to redevelop the Zavitinskoye lithium mine in Russia's Trans-Baikal region.
The expanded agreement outlines definitive steps and milestones for determining partnership parameters for the joint redevelopment of the mine, according to a Dec. 22 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 Zavitinskoye.
Earlier, Stans entered binding memorandums of understanding with Pervomayskiy GOK LLC and ARMZ for the joint development of the Pervomayskiy lithium stockpile.
Upon completion of the scoping study, Stans and ARMZ will enter a joint project development program and partnership arrangement.
The companies will then evaluate joint development of the Zavotinskoye lithium mine and merits of utilizing the Pervomayskiy GOK assets.