CoTec Holdings Reports $7.6 Million Q2 Net Loss Amid Operational Progress

CoTec Holdings Corp. announced the release of its Q2 2026 financial results, revealing a net loss of $7.6 million. The loss includes $1.5 million in general and administrative expenses, a $1.4 million accounting provision for joint ventures, and $4 million in finance expenses associated with HyProMag USA. Despite the loss, CoTec remains optimistic about its ongoing operations.

The company is advancing projects at HyProMag USA, having taken possession of a Texas facility for Plant 1. Equipment ordering signals confidence in project success. CoTec is also progressing with the Lac Jeannine iron ore project, with a feasibility study expected by mid-2027. Developments at MagIron show potential for enhanced value with new production pathways.

Operational highlights include equipment installations at HyProMag USA and a positive economic assessment for the Lac Jeannine project, indicating a 29.6% IRR. The company also settled convertible loans and joined the OTCQX Best Market in May 2026.