COTEC HOLDINGS CORP Stock Price, News & Analysis

CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) has engaged San Diego Torrey Hills Capital, Inc. to provide market awareness and investor relations services, subject to TSX Venture Exchange acceptance. Torrey Hills, led by Cliff Mastricola, specializes in small and microcap companies. The firm will increase awareness about CoTec through its established relationships with investment professionals.

The engagement terms include:

• US$5,000 monthly rate for an initial six-month term
• Automatic extension with a 30-day termination notice
• One-time grant of 150,000 incentive stock options at C$0.50 per share for three years

Torrey Hills currently holds no direct or indirect interest in CoTec's securities, except for the potential exercise of the granted options.

Mkango Resources has provided an update on the commissioning of its short-loop rare earth magnet recycling and manufacturing plant at Tyseley Energy Park in Birmingham, UK. The plant, operated by HyProMag, is expected to start commercial operations in Q1 2025. Key milestones include:

- Magnet manufacturing presses commissioned in December 2023
- Powder processing plant delivered in July 2024
- HPMS vessel expected in September 2024
- Infrastructure development to commence in September 2024

Initial production is targeted at 25-30 tonnes per year of recycled NdFeB, with potential to scale up to 100-330 tonnes annually. The project aims to establish a domestic source of recycled rare earths in the UK, important for clean energy technologies and electronic devices.

CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) has announced the granting of stock options to company officers and a director. A total of 532,301 options were granted to an officer and director, while an additional 350,000 options were granted to other officers. The options, effective July 15, 2024, have a three-year vesting period and a ten-year validity. Of these, 682,301 options are exercisable at $0.50 per share, while the remaining 200,000 are exercisable at $0.75 per share. These options are governed by the company's Omnibus Equity Incentive Plan and are subject to TSX Venture Exchange policies.

CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) and Mkango Resources (MKA) have announced mid-project findings for HyProMag USA's bankable feasibility study. The study, 50% complete, aims to establish rare earth magnet recycling plants in the United States. Key points include:

- Targeted production of 500-800 tonnes per annum of NdFeB magnets
- Four shortlisted 'hub' sites in Fort Worth, Texas
- First U.S. magnet production targeted for H2 2026
- Discussions with U.S. government for funding support
- Project aligns with U.S. Defense Production Act requirements

The study, conducted by BBA USA Inc. and PegasusTSI Inc., is set to complete in Q4 2024, with site selection finalized and permitting to begin in Q1 2025.

CoTec Holdings Corp. (CTHCF) and Mkango Resources announce mid-project findings for HyProMag USA's bankable feasibility study on REE magnet recycling plants in the United States. Key points include:

1. Study is 50% complete, targeting completion in Q4 2024
2. Production capacity of 500-800 tonnes per annum of NdFeB magnets
3. Four shortlisted 'hub' sites in Fort Worth, Texas
4. First U.S. magnet production targeted for H2 2026
5. Discussions with U.S. government for funding support
6. Project aligns with U.S. Defense Production Act requirements

The study aims to establish a sustainable, domestic supply of NdFeB permanent magnets using HPMS recycling technology.

CoTec Holdings Corp. (TSXV:CTH) has completed a non-brokered private placement of 5,500,000 common shares to Kings Chapel International at $0.50 per share, generating $2,750,000 in gross proceeds. Kings Chapel, an existing insider and control person, is linked to CEO Julian Treger via a family trust. The transaction, exempt from certain MI 61-101 requirements, will use $500,000 to repay part of a loan from Kings Chapel. Post-placement, Kings Chapel's stake rose to 44.96%, while Treger's stake decreased to 3.79%. The remaining funds will support potential investments and working capital.

On July 3, 2024, CoTec Holdings announced a non-brokered private placement involving the issuance of 5,500,000 common shares to Kings Chapel International at $0.50 per share, aiming to raise $2,750,000. The proceeds will be used to repay loans from Kings Chapel, fund investment opportunities, and for working capital. The placement is a related party transaction as Julian Treger, CoTec's CEO, is linked to Kings Chapel. The transaction is exempt from certain valuation and minority approval requirements per Multilateral Instrument 61-101, due to the shares being listed on the TSX Venture Exchange and the transaction's market impact being under 25% of CoTec's market capitalization. The closing is pending necessary approvals, including from the TSXV, and issued securities will have a statutory hold period of four months plus one day.

CoTec Holdings has announced positive results from its Preliminary Economic Assessment (PEA) and Mineral Resource Estimate (MRE) for the Lac Jeannine Iron Tailings Project in Quebec, Canada. The MRE identified an initial inferred resource of 73 million tonnes (Mt) at 6.7% total Fe, with potential for an additional 50-70 Mt from adjacent tailings. The PEA predicts a pre-tax NPV of $93.6M and an IRR of 38%, while the after-tax NPV stands at $59.5M with an IRR of 30%. The project is expected to produce a high-purity iron concentrate at 66.8% total Fe, with an annual output of approximately 380,000 tonnes over a 10-year span. The upfront capital cost is estimated at $64.6M, with a payback period of 2.5 years. CoTec plans to proceed with a feasibility study, aiming to upgrade resources and explore funding and economic incentives.

CoTec Holdings Corp. announced the completion of an initial Mineral Resource Estimate (MRE) and a positive Preliminary Economic Assessment (PEA) for the Lac Jeannine Iron Tailings Project in Québec, Canada. The project boasts an initial inferred mineral resource of 73 million tonnes at 6.7% total Fe, with potential to add another 50 to 70 million tonnes pending further drilling. The PEA forecasts a pre-tax NPV of $93.6M and an after-tax NPV of $59.5M, with internal rates of return (IRR) of 38% and 30%, respectively. The project capital cost is estimated at $64.6M, with payback expected in 2.5 years. The operation will produce high-purity iron concentrate over 10 years, significantly reducing environmental liabilities. Next steps include a feasibility study, further drilling, and exploring government incentives.

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