Cotec Releases Positive Economic Assessment for Lac Jeannine Iron Project

CoTec Holdings Corp. has announced an initial Mineral Resource Estimate (MRE) and positive Preliminary Economic Assessment (PEA) for the Lac Jeannine Iron Tailings Project in Québec. The study reveals an inferred resource of 73 million tonnes (Mt) at 6.7% total iron (Fe), and highlights potential additional resources of 50 to 70 Mt.

The PEA showcases favorable economic metrics with the pre-tax Net Present Value (NPV) at $93.6M and an Internal Rate of Return (IRR) of 38%. The after-tax NPV stands at $59.5M with an IRR of 30%. Initial capital expenditure is projected at $64.6M, with payback anticipated in 2.5 years.

CoTec plans to further develop the project, including upgrading the resource category and exploring innovative low-carbon technologies. Strategic discussions with government entities and stakeholders are underway to enhance economic support and project feasibility.