on CoTec Holdings Corp. (isin : CA22165A1021)
CoTec Holdings Commences Drilling Contractor Appointment for Lac Jeannine Project
CoTec Holdings Corp. has initiated the process to appoint a drilling contractor for its Lac Jeannine Property in Québec. This step aims to expand the previously announced preliminary economic assessment's mineral resource estimate at the site.
The company recently secured approval from the Québec Ministère des Ressources naturelles et des Forêts for its closure plan related to the 2025 exploration drilling campaign. Ongoing discussions with the Government of Québec and other stakeholders aim to bolster support for the project.
The August 2024 technical report estimates a pre-tax NPV of US$93.6 million and IRR of 38%. The project shows potential for high-purity iron concentrate production, aligning with green steel industry demands while revitalizing historic mine sites.
R. E.
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