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CoTec Holdings Corp. reports developments in critical-mineral technology, resource extraction and recycling. Company updates center on rare earth magnet recycling through HyProMag USA, iron tailings reprocessing in Québec, copper and iron opportunities, and the use of technologies such as Hydrogen Processing of Magnet Scrap and multi-gravity separation for strategic materials recovery.
Recurring news also covers capital structure activity, including warrants, convertible loan facilities and common share issuance; annual financial statements and MD&A; long-term incentive grants; exchange and OTC market status; and joint venture or portfolio updates tied to CoTec's strategy of pairing resource assets with processing technologies.
CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) has initiated the process to appoint a drilling contractor for expanding its mineral resource estimate at the Lac Jeannine Property in Québec. The company received approval from Québec's MNRF for its closure plan regarding the 2025 exploration drilling campaign.
The project's technical report from August 2024 indicated a pre-tax NPV of US$93.6 million with 38% IRR, and an after-tax NPV of US$59.5 million. The current resource estimate shows approximately 73 million tonnes at 6.7% total Fe for 4.9 Mt of contained total Fe. The planned drilling aims to improve confidence in existing estimates and expand the resource estimate across the entire facility.
CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) has engaged Peter Epstein to provide investor relations services, pending TSX Venture Exchange approval. The engagement terms include a monthly compensation of US$2,000 for an initial six-month period, with potential extension upon mutual agreement. Epstein currently holds no direct or indirect interest in the company's securities.
CoTec Holdings Corp (TSXV:CTH)(OTCQB:CTHCF) announces alternative voting procedures for its upcoming annual general and special meeting on December 13, 2024, due to Canada's nationwide postal strike. The meeting will be held virtually at 11:00 AM Toronto time.
Shareholders will vote on: financial statements review for fiscal year 2023, director elections, auditor appointment, and equity incentive plan approval. Meeting materials are available on SEDAR+ and the company website. Shareholders can access voting materials through Computershare's call center or online voting platform. Objecting beneficial shareholders should contact their brokers for voting instructions.
HyProMag USA has initiated a Request for Proposal process to select an Engineering, Procurement and Construction Management (EPCM) provider for its rare earth magnet recycling and manufacturing project in the United States. This follows a positive feasibility study announced on November 25, 2024.
The detailed engineering design phase will support the development of an AACE Class 1 capital cost estimate and final site selection in H1 2025. The project targets initial revenue in Q1 2027, with a Notice to Proceed decision expected mid-2025.
The project focuses on recycling end-of-life NdFeB magnets into new sintered NdFeB magnets, supported by the Minerals Security Partnership. HyProMag USA is owned 50:50 by CoTec and Maginito, with Maginito being owned 79.4% by Mkango and 20.6% by CoTec.
HyProMag USA has initiated a Request for Proposal process to select an Engineering, Procurement and Construction Management (EPCM) provider for its rare earth magnet recycling and manufacturing project in the United States. This follows a positive feasibility study announced on November 25, 2024.
The detailed engineering design phase will support the development of an AACE Class 1 capital cost estimate and final site selection in H1 2025. The project targets initial revenue in Q1 2027, with a Notice to Proceed decision expected mid-2025.
The project aims to recycle end-of-life NdFeB magnets into new sintered NdFeB magnets, supported by the Minerals Security Partnership. HyProMag USA is owned 50:50 by CoTec and Maginito, with Maginito being owned 79.4% by Mkango and 20.6% by CoTec.
CoTec Holdings Corp. (TSXV:CTH) has entered into a convertible loan agreement with Kings Chapel International , amending previous loans totaling CAD$3,013,147 with accrued interest of CAD$220,896. Kings Chapel commits to advance an additional CAD$1,500,000 in three tranches during Dec 2024-Feb 2025. The loan bears 10% annual interest, repayable by December 31, 2027. From January 2025, the principal can be converted to common shares at CAD$0.75 per share, with automatic conversion when share price reaches CAD$1.00. Kings Chapel's ownership post-conversion is capped at 49% of outstanding shares.
CoTec Holdings Corp (TSXV:CTH)(OTCQB:CTHCF) has announced an upcoming investor update scheduled for November 26, 2024, at 7:00am PDT / 10:00am EDT. The presentation will be led by CEO Julian Treger and will include a Q&A session. Interested investors can participate by registering through the provided link on the 6ix platform.
CoTec Holdings Corp. (TSXV:CTH) has entered into a convertible loan agreement with Kings Chapel International , restructuring previous loans totaling CAD$3,013,147 with accrued interest of CAD$220,896. Kings Chapel will provide an additional CAD$1.5 million in three tranches of CAD$500,000 between December 2024 and February 2025. The loan bears 10% annual interest, matures December 31, 2027, and is convertible into common shares at CAD$0.75 per share at Kings Chapel's election or automatically at CAD$1.00 when share price conditions are met. The agreement includes a 49% ownership cap and represents a related party transaction due to CEO Julian Treger's connection to Kings Chapel.
CoTec and Mkango announce positive results from a Feasibility Study for HyProMag USA, a rare earth magnet recycling and manufacturing operation in the United States. The project, based on HPMS technology, shows a post-tax NPV of US$262 million and 23% IRR at current market prices, with potential to reach US$503 million NPV at forecast prices.
The facility will be located in Dallas Fort Worth, Texas, with two pre-processing spokes in eastern and western US. It will produce 750 metric tons annually of recycled sintered NdFeB magnets and 291 metric tons of co-products, with first revenue targeted for Q1 2027. The project requires US$125 million in upfront capital and has a low all-in sustaining cost of US$19.6 per kg of NdFeB product.
CoTec Holdings announces that Ceibo has partnered with Glencore's Lomas Bayas Mining Company to implement Ceibo's proprietary leaching technologies for enhanced copper extraction from low-grade sulphides in Chile. After two years of testing, Lomas Bayas is scaling up testing through Lomas Lab to evaluate the technology's potential for extending mining operations. Ceibo's technology offers a revolutionary process for leaching low-grade primary copper sulphides using inorganic leaching technology, promising higher recovery rates and shorter operational cycles. The company raised over US$30 million in Series B financing led by Energy Impact Partners, with participation from BHP Ventures, Orion Industrial Ventures, and other investors.