CoTec Reveals Updated Economic Assessment for Lac Jeannine Project

CoTec Holdings Corp has announced an updated Preliminary Economic Assessment (PEA) for its Lac Jeannine Iron Tailings Project in Québec, Canada. The new Mineral Resource Estimate indicates a 41% increase in resources from the 2024 assessment, extending the mine's life from 11 to 15 years. The updated PEA supports an expected production of a high-purity iron concentrate at 66.8% FeT.

The project now includes a mining method shift to continuous mining with overland conveyors, reducing operating costs. The estimated capital expenditure is $69.4 million, while the operating costs have decreased to $46.8 per tonne. The pre-tax net present value is estimated at $141.5 million, with an after-tax NPV of $91.9 million.

The study suggests a potential for further resource expansion and increased viability through advanced technologies and additional exploration.