CoTec Holdings: Positive update for the Lac Jeannine project

CoTec Holdings Corp. announces an optimistic Preliminary Economic Assessment (PEA) for its iron ore tailings project at Lac Jeannine, Quebec. The company reports a 41% increase in resources, bringing the total iron grade to 6.8%. The converted mineral resources support four years of production, extending the mine life to 15 years.

The revised operating plan calls for a continuous miner method, estimated at a US$6.8 million investment. The net present value before taxes reaches US$141.5 million with an internal rate of return of 33.8%. Cash costs decrease to US$46.8/t, improving economic competitiveness.

The planned high-purity iron concentrate reaches 66.8% FeT, with an initial investment cost of US$69.4 million. Average annual production is 360 kt over 15 years, offering promising economic opportunities for the region.