CoTec CEO Julian Treger Highlights Lac Jeannine Growth and Resource Recovery Strategy

Why It Matters

CoTec’s expanding portfolio and high‑valued recycling business could reshape critical‑mineral supply chains while offering investors a high‑growth, sustainability‑focused play.

Key Takeaways

• Lac Jeannine option: $50k fee, $2M exercise, $100M NPV.
• CoTec’s tech processes low‑grade ores, tailings, and e‑waste magnets.
• Preliminary economic assessment shows 41% resource increase, longer mine life.
• New joint venture launches CoTec Copper in DRC, expanding portfolio.
• Magnet‑recycling unit valued at ten times current market cap, IPO pending.

Summary

CoTec CEO Julian Treger outlined the company’s latest milestones, focusing on the Lac Jeannine project’s upgraded economics and a broader resource‑recovery strategy that includes magnet recycling and a new copper joint venture in the Democratic Republic of Congo.

Treger said CoTec holds an option on Lac Jeannine for $50,000, can exercise it for $2 million, and the independent preliminary economic assessment now values the deposit at a $100 million net present value – a 41 % increase in resources and an extended mine life. The firm’s six proprietary technologies target low‑grade ores, tailings and e‑waste magnets, allowing it to buy “waste” assets cheaply and add value through beneficiation.

“The magnet‑recycling business is worth roughly ten times our current market cap,” Treger noted, underscoring the upside of the UK‑derived shortcut process for rare‑earth magnets. He also highlighted the completion of drilling across the entire Lac Jeannine site, effectively doubling its size, and the launch of CoTec Copper through a joint venture in the DRC.

The announcements set the stage for a potential IPO of the magnet‑recycling unit, with bankers already being appointed, and signal CoTec’s push to secure a Western supply chain for critical minerals, a move that could attract investors seeking exposure to sustainable mining and circular‑economy assets.

Original Description

CoTec CEO Julian Treger joined Steve Darling from Proactive to discuss the company's growth strategy following an updated Preliminary Economic Assessment (PEA) for the Lac Jeannine project and continued progress across its portfolio of resource recovery technologies.

During the interview, Treger explained that CoTec has built its business around acquiring and deploying disruptive technologies that unlock value from mining waste, tailings, and other overlooked resources. The company's approach focuses on recovering minerals that traditional mining operations often leave behind.

Treger noted that CoTec currently controls six proprietary technologies capable of processing fine materials, hard rock deposits, and low-grade resources. In addition, the company is advancing a rare earth magnet recycling business based on technology originally developed in the United Kingdom.

A key focus for investors is the Lac Jeannine project, where an updated PEA followed the completion of drilling across the entire property. Treger said the initial assessment was based on drilling completed on only half of the site, while the latest work has significantly expanded the project's scale and potential.

According to Treger, Lac Jeannine has "roughly doubled in size" following the additional drilling. He also pointed to further upside opportunities through beneficiation processes and potential pellet production technologies that could enhance the project's overall economics.

Discussing the asset's value, Treger highlighted CoTec's low-cost option structure for acquiring exposure to Lac Jeannine relative to the project's estimated net present value. He stated that "just the value of Lac Jeannine is almost the whole value of CoTec," underscoring management's view of the project's significance within the company's portfolio.

Beyond iron ore, CoTec is also expanding its presence in the copper sector. Treger noted that the company recently announced the formation of CoTec Copper through a joint venture with a copper mining company operating in the Democratic Republic of Congo.

Looking ahead, management believes one of the most significant near-term catalysts will be the advancement of its magnet recycling business. Treger said milestones such as a construction decision for the first recycling facility, securing feedstock and offtake agreements, and appointing bankers to support a potential IPO could serve as important value drivers.

CoTec's broader strategy is aligned with increasing demand for critical minerals and growing efforts by Western nations to strengthen domestic supply chains. Management believes its technology-driven approach to resource recovery and recycling positions the company to capitalize on these long-term industry trends.

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