on CoTec Holdings Corp. (CVE:CTH)
CoTec Holdings Corp. Releases 2024 Financial Results
CoTec Holdings Corp. has published its audited financial results for 2024, reporting a net income of $0.5 million for the quarter and a net loss of $0.2 million for the year. CEO Julian Treger hailed 2024 as transformative, with key advancements in the HyProMag USA joint venture and the Lac Jeannine project. The company aims to become a resource producer by early 2027.
CoTec's strategy focuses on critical minerals, with HyProMag USA playing a vital role in U.S. rare earth magnets supply. The company believes its shares are undervalued and is working to raise awareness among investors. Efforts include insider stock purchases and financing initiatives.
Notable 2024 accomplishments include launching the HyProMag USA venture and completing feasibility studies for two major projects. These studies project substantial economic returns, bolstering the company's production goals set for 2027.
R. H.
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