Small-cap mining firm offers first-mover advantage on low-cost, low-carbon-output mining

CoTec Holdings Corp. (TSX-V: CTH)(OTC: CTHCF) — currently trading around C$0.53 per share — has provided a comprehensive operational update, including on the HyProMag USA bankable feasibility study wherein CoTec is responsible for funding the study and the project development costs.  

The HyProMag project is being advanced through a newly-formed joint venture between CoTec and Mkango Resources Ltd., which aims to roll out HyProMag’s Hydrogen Processing of Magnet Scrap (HPMS) recycling technology in the United States. 

Site selection for three US-based, low-cost, low-carbon, sustainable rare earth magnet recycling plants has commenced; completion of the HyProMag bankable feasibility study is anticipated by year-end. 

The current site-selection focus is on Fort Worth, Texas, for the first recycling spoke and magnet production facility (~500 tonnes of NdFeB finished permanent magnets and alloys per annum). Three recycling spokes are targeted; permitting for the various sites will start once site selection has been completed in Q3. Commercial production at HyProMag is targeted for H1 2026.

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Additionally, in Q4 2023, CoTec completed a sonic drilling and bulk sampling testing program on historical tailings at the Lac Jeannine iron ore property in Quebec, Canada. CoTec has engaged Quebec-based Corem to complete metallurgical testing. The tailings are from the past-producing Lac Jeannine Mine, which was operated by the Quebec Cartier Mining Company between 1959 and 1985.

The CoTec team reports that Corem has produced approximately 30 kg of high-grade Fe concentrate at Lac Jeannine to date. A Preliminary Economic Assessment (PEA) is underway and is expected to be completed by the end of the current quarter. The PEA will incorporate results from CoTec’s aforementioned drilling and bulk sampling program and will include a maiden Mineral Resource Estimate (MRE). 

CoTec Holdings CEO Julian Treger — whom you’re about to hear from directly in our exclusive interview coming right up — commented via press release: 

“We are very encouraged by the significant progress made on all fronts of the business and continue to support the share price through our NCIB Program as we believe our shares offer considerable value at the current share price levels. We have engaged engineering companies for both HyProMag USA and Lac Jeannine and are targeting completion of the HyProMag USA bankable Feasibility Study prior to year-end and the Preliminary Economic Assessment, including a maiden Mineral Resource Estimate, for the Lac Jeannine property during H1 2024. The timeframe for the completion of these studies and the target dates for first revenue from these opportunities are testimony to the advantages of the CoTec strategy over the traditional mining approach.”

On top of all that, CoTec holds a 17% interest in MagIron LLC, which is advancing toward a brownfields restart at Plant 4 — a modern iron ore concentrating facility located near Grand Rapids, Minnesota, with potential for applying Binding Solutions Ltd.’s technology to the plant’s production process.   

The CoTec team reports that there exists a significant amount of waste rock material within close proximity to Plant 4 to support a multi-decade business plan to produce DR grade concentrates and iron oxide pellets for green steel production. 

In all, CoTec presently holds stakes in four key technologies and three assets with the goal of obtaining 10 technologies and upward of 40 assets. The company is actively developing strategic joint ventures with a primary focus on unlocking shareholder value via the systematic transformation of targeted assets into producing assets. 

With a strict focus on maintaining a low-carbon footprint throughout the mining process, CoTec’s growth model is centered on the acquisition and operation of commodity-rich assets — oftentimes marginal assets in the green steel, green copper, and rare earths space — wherein it can apply innovative, eco-friendly, disruptive technologies to efficiently produce key metals and minerals to the global supply chain.

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For a closer look at those disruptive technologies in play, our own Gerardo Del Real of Junior Resource Monthly caught up with CoTec Holdings CEO Julian Treger to review the plans and process for unlocking value across the company’s robust and growing base of large-scale mineral assets and state-of-the-art mining technology investments. Please enjoy! 

For more on CoTec Holdings Corp., be sure to contact the company’s IR department at 604-992-5600 or via email at  

Visit the CoTec corporate website and sign up to receive updates directly from the company here

Yours in profits,

Mike Fagan

Mike Fagan
Editor, Resource Stock Digest

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