CoTec Holdings Corp. Reports Second Quarter Financials

CoTec Holdings Corp. recently filed its unaudited interim financial statements and MD&A for the quarter ending June 30, 2025. CEO Julian Treger highlighted progress across the portfolio, including advancements in HyProMag USA, a rare earth magnet recycling joint venture. The company received a $92 million financing letter of interest from the U.S. Export-Import Bank.

In Quebec, the Lac Jeannine iron ore project secured drilling permits, with operations commencing on August 4, 2025. Parallelly, efforts continue to enhance copper leaching technology at Ceibo Inc. and progress the MagIron LLC feasibility study.

Financial activities included an oversubscribed financing round, raising $13.5 million, and securing $6.6 million in loan facilities. However, the quarter closed with a net loss of $4.0 million, driven primarily by non-cash adjustments.