CoTec Holdings Advances Strategic Initiatives in Q1

EastCoal (TSE:CTH) has released an update.

CoTec Holdings Corp. has reported a marginal net loss of $39,000 in the first quarter of 2024, mainly due to foreign exchange gains being offset by operational costs. The company is progressing with strategic initiatives, including advancing its Hydrogen Processing of Magnet Scrap technology in the USA and the Preliminary Economic Assessment for the Lac Jeannine Iron Project in Quebec. Significant developments include the incorporation of HyProMag USA, the engagement of consultants for feasibility studies, and the appointment of new board members, with the first revenue from HyProMag USA expected in 2026.

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