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CoTec Holdings Corp. (CTHCF) is an ESG-focused company investing in innovative technologies that can change the way metals and minerals are extracted and processed. The company is transitioning into a mid-tier mineral resource producer, with a strong focus on sustainable practices and environmental stewardship.
Recent achievements include a net income of $9.8 million for the financial year ended December 31, 2023. CoTec has made strategic investments in companies like Maginito, HyProMag, and Binding Solutions Limited. These investments aim to revolutionize the recovery of rare earth elements, cold bonding technology in the mining sector, and leaching processes for copper waste material.
CoTec's partnerships with organizations like the Birmingham Centre for Strategic Elements and Critical Materials and its commitment to initiatives like SAFE underscore its dedication to advancing transformative technologies and supporting a lower carbon future for the extraction industry.
With a portfolio of investments and operational opportunities, CoTec continues to provide a compelling value proposition to investors, driven by a strong leadership team and significant insider support.
CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) held its annual and special meeting of shareholders, where all resolutions were passed by requisite majority. Shareholders re-elected five incumbent directors: Julian Treger, Raffaele Genovese, Tom Albanese, Margot Naudie, and Sharon Fay. Additionally, two new directors, Erez Ichilov and Robert Harward, were elected to the Board. The meeting also resulted in the re-appointment of PricewaterhouseCoopers LLP as company auditors and the confirmation of the company's omnibus equity incentive plan.
HyProMag presented its rare earth magnet recycling and manufacturing projects at the Minerals Security Partnership (MSP) meeting in Brussels. The company is commercializing the patented Hydrogen Processing of Magnet Scrap (HPMS) technology across multiple regions: United Kingdom and Germany (2025), and United States (2027). The HPMS technology, developed at the University of Birmingham Magnetic Materials Group, has received approximately US$100 million in R&D funding.
The technology offers significant competitive advantages over other recycling methods by effectively addressing the challenge of extracting magnets from end-of-life scrap streams. HyProMag was among the first projects selected by MSP for support due to its potential in developing responsible critical mineral supply chains.
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.
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