CoTec Holdings Corp. Reports Q2 2024 Financial Results Focused on Operational Opportunities

Vancouver, BC / ACCESSWIRE / August 7, 2024 – CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) has released its unaudited interim condensed consolidated financial statements and accompanying management discussion and analysis (MD&A) for Q2 2024. These documents are available on the Company's SEDAR profile.

The company reported a comprehensive income of $1.45 million for the quarter and $1.42 million for the first six months of 2024, influenced by gains on equity investments and offset by operating costs.

Key achievements include the completion of an Initial Mineral Resource Estimate and Preliminary Economic Assessment for the Lac Jeannine Iron Tailings Project, and progress in HyProMag USA LLC's feasibility study. MagIron signed long-term mineral leases crucial for its Plant 4 iron ore concentrator. Additionally, the company raised $2.6 million through a private placement.

CEO Julian Treger expressed satisfaction with the Lac Jeannine PEA outcomes and discussed ongoing stakeholder discussions for various projects, aiming for HyProMag USA to generate revenue by 2026.