newsfilter
← Latest News
ACCESS Newswire·

CoTec Holdings Corp. Files Third Quarter Financial Statements and MD&A and Provides Market Commentary

CTHCF
  • CoTec Holdings Corp. filed unaudited interim financial statements & MD&A for the three & nine months ended September 30, 2026.
  • CEO Julian Treger & CFO Braam Jonker will host an investor webinar on November 12, 2026, at 10:00 am PT to discuss results.
  • The Company confirmed no undisclosed material information accounts for recent share price declines & operations remain in the ordinary course.
  • HyProMag USA supplied first sample magnets to U.S. customers, secured power capacity, & delivered major process equipment to Northlake, Texas.
  • Magnet cutting & finishing at HyProMag USA are targeted for commissioning in H1 2027, with Phase 1 planned for mid-2028.
  • An independent Pre-Feasibility Study for HyProMag USA outlines options to quadruple capacity, indicating an incremental post-tax NPV of up to US$2.1 billion.
  • Lac Jeannine test work confirmed the ability to produce high-purity iron concentrate, with a feasibility study expected by mid-2027.
  • MagIron announced positive pig iron concept study results & completed a successful pot-grate pellet test program.
  • CoTec exercised 119,261 MagIron warrants for US$221k, maintaining a 16.7% undiluted equity interest.
  • CoTec completed a $20 million convertible debenture financing, with $12.1 million raised in Q3 & $7.9 million post-quarter-end.
  • The $20 million debentures bear 12.5% annual interest, mature on September 10, 2031, & are convertible at $1.75 per share.
  • Net loss for the three months ended September 30, 2026, was $4.2 million, including $1.2 million in general & administrative expenses.
  • Net loss for the nine months ended September 30, 2026, was $14.5 million, with $4.0 million used in operating activities.
  • CoTec USA paid $9.3 million in deposits & progress payments toward magnet equipment & pre-engineering at the Northlake facility.
  • The Northlake Texas Facility design study is approximately 38% complete, with a 3D plant model finalized.
  • CoTec finalized a joint venture agreement with Copper Intelligence Inc. to process copper tailings in the Democratic Republic of Congo.
  • A non-binding framework agreement was entered into with Battery Mineral Resources Corp. for a potential joint venture in Chile.
  • The Company ended the quarter with $9.9 million in cash & cash equivalents, $0.5 million in restricted cash, & $5.7 million in working capital.
Company
CoTec Holdings Corp.
Keywords
Metals & Mining, Earnings