Investor Insight

CoTec Holdings (CoTec) leverages disruptive technologies to undervalued critical mineral assets and waste materials into high-value commodities essential for a low-carbon future. By combining innovation with strategic execution, the company offers a unique investment opportunity, characterized by low cost, lower capex, faster cash flow generation, and superior returns.

Overview

CoTec (TSXV:CTH,OTCQB:CTHCF) applies innovative, disruptive technology to undervalued resource assets, aiming to create a portfolio of 20 to 30 modular “mini-mines” or processing facilities. By focusing on strategic minerals — such as rare earths, copper and iron ore — critical to advanced manufacturing, defense and electrification, the company transforms waste materials into valuable strategic commodities. This approach establishes the potential for high-margin revenue streams and positions CoTec for continued growth.

Through investments and efficient processing methods, CoTec targets areas like rare earth magnet recycling, green steel production and copper waste processing — sectors crucial to today’s evolving economies. For investors, this represents a straightforward opportunity to support a forward-thinking company poised for long-term appreciation.

CoTec is advancing four cutting-edge technologies and three strategic assets, with a medium-term goal of acquiring 10 technologies and 20 to 30 assets. The company’s business model is supported by partnerships, joint ventures (JVs), and a disciplined capital management strategy to unlock value across its portfolio.

CoTec is guided by a highly experienced management team and board of directors with deep expertise in mining, technology and corporate finance.

Why Invest in CoTec?

Investors looking for a high-potential opportunity with strong alignment to global trends in sustainability and technology will find CoTec an attractive choice. Here’s why:

1. Significant Upside Potential: CoTec’s innovative approach to deploying cutting-edge, disruptive technologies across undervalued and waste assets creates a scalable business model. By targeting sectors of strategic importance such as rare earth magnet recycling, green steel production, and copper waste processing, CoTec aligns with critical global trends that ensure relevance and growth.
2. Strategic Positioning: The company is well-positioned in sectors that are increasingly recognized as strategic priorities, with the application of rare earths and other critical minerals in artificial intelligence, renewable energy and defense.
3. Experienced Leadership and Insider Confidence: With a leadership team boasting decades of experience in the resource sector and significant insider ownership (approximately 74 percent of the company is owned by management and insiders), CoTec’s leadership is deeply invested in the company’s success.
4. Environmental Responsibility: CoTec’s focus on low-carbon resource extraction technologies not only aligns with global sustainability goals but also enables investors to generate financial returns while contributing to environmental stewardship.
5. Catalysts for Growth: The company has a clear roadmap with multiple catalysts in the near term, which may include studies, expansions and potential funding announcements, which are expected to unlock further value for shareholders.*

Company Highlights

• CoTec deploys cutting-edge, low-carbon technologies to marginal assets, reclamation opportunities and recycling initiatives, transforming waste materials into strategic, high-value commodities.
• The company holds stakes in four groundbreaking technologies — HyProMag, Binding Solutions, MagIron and Ceibo. These technologies are designed to unlock significant value across strategically chosen assets. The Lac Jeannine iron project in Quebec, with an after tax NPV of US$59.9 million, stands on its own merits but could see further economic and environmental enhancements through the application of CoTec’s technologies. Similarly, HyProMag USA is pioneering the rollout of HyProMag’s rare earth recycling technology in the United States, delivering low-cost, magnet-to-magnet low-carbon resource recovery.
• CoTec accelerates the transition from discovery to production through proprietary technologies and strategic joint ventures, enabling significantly faster revenue generation compared to traditional mining operations.
• Backed by a management team with extensive expertise in mining, finance and technology, CoTec is uniquely positioned to drive innovation and growth in the critical minerals sector.
• Approximately 74 percent of the company is owned by management and insiders, demonstrating the leadership’s strong commitment to the company’s success.

Key Technologies and Assets

HyProMag USA Project

The HPMS process enables magnet-to-magnet short-loop recycling to produce a domestically-sourced recycled magnet with a very low CO2 footprint, bypassing the extensive chemical refining and reprocessing of traditional long-loop processes. HPMS uses 88 percent less energy, 85 percent less water and reduces CO2 by 85 percent. It eliminates complex separation stages, reduces material losses, and lowers operational risk. This streamlined approach is faster, more economical, and strategically critical for the U.S., ensuring self-sufficiency in AI, robotics, and defense, where reliance on Chinese rare earths poses a major geopolitical risk.

HyProMag USA, a US Government Minerals Security Partnership Project, leverages the Hydrogen Processing of Magnetic Scrap (HPMS) technology to recover NdFeB magnets from end-of-life electronics and industrial waste. This revolutionary hydrogen-based recycling process provides a much simpler, lower-risk, and more cost-effective alternative to conventional rare earth extraction, reducing reliance on traditional mining and imports. Over US$100 million was spent on R&D, developed by the University of Birmingham over 15 years.

A feasibility study released in November 2024, underscored the HyProMag USA project potential to become a game-changing domestic source of recycled rare earth magnets for the United States, targeting 10 percent of the country’s domestic demand for NdFeB magnets within five years of commissioning. CoTec, which owns 60.3 percent of HyProMag USA (50 percent through the US JV with Maginito, and CoTec’s 20.3 percent equity ownership in Maginito), is targeting a total annual production capacity of 1,041 tons of recycled NdFeB magnets over a 40-year operating life, post-tax net present value (NPV) of US$262 million at current market prices, increasing to US$503 million at independent forecast prices.

By tapping into the United States’ push for domestically sourced critical mineral resources, HyProMag USA will position itself as a pivotal player in reshaping the permanent magnet supply chain, providing investors with an opportunity to align with a project at the intersection of sustainability, innovation and economic growth.

Lac Jeannine Iron Project

Located in Quebec, the Lac Jeannine Project is an advanced-stage iron tailings project with a published Preliminary Economic Assessment( PEA – preliminary economic assessment). The project involves reprocessing approximately 73 million tonnes (Mt) of tailings to produce high-purity iron concentrate. The PEA incorporated the 2023 drill-program, providing an initial Inferred Mineral Resource of approximately 73 Mt at 6.7 percent total Fe for 4.9 Mt of contained total Fe. Though the PEA is based on an initial 10-year life of mine, estimates are the life of mine could be extended by as much as a further 10 years with further drilling and resource definition during the feasibility study in 2025. Based on open-pit extraction methods and the production of a gravity concentrate via conventional processing techniques and at a discount rate of 7 percent (based solely on an initial 10-year life of mine), the PEA indicated a pre-tax NPV of US$93.6 million, and an IRR of 38 percent, and an after tax NPV of US$59.5 million, and an IRR of 30 percent.

The Independent Qualified Person as defined by NI 43-101 for the Lac Jeannine Mineral Resource, Mr. Christian Beaulieu, P.Geo., is a member of l’Ordre des géologues du Québec (#1072). The Qualified Person has reviewed and approved the scientific and technical content relating to the Lac Jeannine Mineral Resource.

MagIron

MagIron focuses on restarting a brownfield iron ore concentrator in Minnesota to produce DR-grade iron concentrate for low-carbon steel production. The company is targeting production capacity of 2 to 3 Mt of concentrate annually with an operational life exceeding 20 years. MagIron is positioned to capitalize on the demand for U.S.-based green steel, with preliminary valuations showing significant uplift since CoTec’s initial investment. CoTec has a 16 percent equity interest in MagIron.

Binding Solutions (BSL)

BSL’s cold agglomeration technology converts mining waste into ISO-compliant pellets or briquettes, primarily for green steel production. This process is a game-changer in the industry, offering substantial reductions in energy use and emissions. CoTec’s equity in BSL has grown significantly in value, with the most recent valuation of the company exceeding US$158 million, a 107 percent increase from CoTec’s initial investment.

Ceibo

Ceibo’s low-carbon, low-cost oxidative heap leaching technology enhances recovery rates for sulphide copper minerals such as chalcopyrite. The technology potentially improves copper recovery from 30 percent to 80 percent, making it a potential industry-leading solution for copper extraction. CoTec has a seat on Ceibo’s technical advisory board along with its minority equity interest, and is identifying copper assets where the technology could be applied in the form of a joint venture.

Management & Leadership

Julian Treger – CEO

With over three decades of experience in natural resources and finance, Julian Treger is the driving force behind CoTec’s innovative approach to resource extraction. Previously the CEO of Anglo Pacific Group, Treger successfully transitioned the company from a coal-focused royalty business to a battery-metals-focused streaming company, growing its income from £3 million in 2013 to nearly £62 million in 2021. Treger also brings significant expertise from his roles at Audley Capital and various board positions across the mining sector.

Lucio Genovese – Chairman

A seasoned executive with more than 30 years of experience in metals and mining, Lucio Genovese has held leadership roles at Glencore and is the CEO of Nage Capital Management in Switzerland. He is also chairman at Ferrexpo and a member of the board of directors of Mantos Copper S.A. and Nevada Copper. His deep industry knowledge and expertise in value creation through joint ventures and operational excellence are pivotal to CoTec’s success.

Tom Albanese

Tom Albanese served as chief executive officer of Rio Tinto from 2007 to 2013 and as chief executive officer and director of Vedanta Resources and Vedanta Limited from 2014 to 2017. He currently serves as lead independent director of Nevada Copper and non-executive director of Franco-Nevada, and was previously on the board of directors of Ivanhoe Mines, Palabora Mining Company and Turquoise Hill Resources. He holds a Master of Science degree in mining engineering and a Bachelor of Science degree in mineral economics both from the University of Alaska Fairbanks.

Robert Harward – Non-executive Director

Robert Harward is a retired United States Navy vice admiral (SEAL) and a former deputy commander of the United States Central Command. He served on the US National Security Council in The White House and led several multi-national special forces commands in Afghanistan and Iraq. He joined Lockheed Martin in 2014 as their chief executive in the UAE and expanded his responsibilities to cover the Middle East, leaving to join Shield AI as executive vice-president for international business development and strategy based in the UAE.

Sharon Fay – Non-executive Director

A global investment industry leader with more than 35 years of experience, Sharon Fay has extensive expertise in corporate responsibility and strategic evaluation, making her instrumental in CoTec’s ESG initiatives and governance.

Margot Naudie – Non-executive Director

Magot Naudie is a seasoned capital markets professional with 25 years of experience as senior portfolio manager for North American and global natural resource portfolios. She has held senior roles at leading multi-billion-dollar asset management firms including TD Asset Management, Marret Asset Management and CPP Investment Board. Naudie is the president of Elephant Capital, and the co-founder of Abaxx Technologies. She sits on a number of public and private company boards. Naudie holds an MBA from Ivey Business School and a BA from McGill University. She is also a chartered financial analyst.

Erez Ichilov – Non-executive Director

With a background in mining, technology and project investments, Erez Ichilov has driven multiple ventures in battery materials, critical minerals and sustainable exploration, aligning well with CoTec’s strategic goals.

John Singleton – COO

John Singleton has more than 25 years of experience in the mining industry, including senior roles at Rio Tinto, De Beers Consolidated Mines and Centamin. His background in corporate development, strategy project evaluation, operations and project development equips CoTec with the expertise necessary for scaling its portfolio of assets and technologies. He is a Fellow of the Royal Geological Society and holds a BSc from the University of Bristol and a MSc in Engineering Geology from Imperial College London.

Abraham Jonker – CFO

Abraham Jonker brings 30 years of financial leadership in the mining industry, with a focus on corporate transactions, equity and debt financing, and strategic growth. He has played a pivotal role in raising over $750 million for mining ventures and has served on the boards of other prominent mining companies.

1911 Gold (TSXV:AUMB,OTCQX:AUMBF) focuses on the exploration and development of gold resources in Manitoba, Canada. The company owns a dominant, 62,000 hectare land position in the Rice Lake greenstone belt in Manitoba.

1911 Gold’s strategy is on track in de-risking the existing underground mine geology, expanding its mineral resource base through exploration, and advancing towards production on an accelerated time line by leveraging the existing infrastructure in place.

1911 Gold’s flagship asset is its True North project located in the Rice Lake greenstone belt of southeastern Manitoba, approximately 150 km northeast of Winnipeg. This historically significant mine has produced over 2 million ounces (Moz) of gold and continues to offer substantial exploration upside.

Company Highlights

• 1911 Gold Corporation is a junior gold exploration company and near-term producer with more than 1.1 million ounces of gold resource in an established mining district.
• The company’s assets include a permitted 1,300-ton-per-day mill and tailings facility, and underground mine, reducing time and costs to production
• With a large land package in the Rice Lake belt, 1911 Gold boasts multiple high-potential targets, providing significant resource expansion potential.
• The company is led by a seasoned management team and board with a strong track record of advancing mining projects.
• The company operates in a mining-friendly jurisdiction with hydroelectric power and excellent infrastructure.

This 1911 Gold Corporation profile is part of a paid investor education campaign.*

Click here to connect with 1911 Gold (TSXV:AUMB) to receive an Investor Presentation

American Rare Earths (ASX:ARR,OTCQX:ARRNF,ADR:AMRRY) unlocks the USA’s rare earths potential through its strategic, high-value asset in Wyoming. The flagship project, Halleck Creek, is one of North America’s largest REE deposits. With a 2.63-billion-ton JORC resource at 3,292 ppm TREO, American Rare Earths is ramping up its development to bolster the North American critical minerals supply chain.

Halleck Creek offers significant exploration upside, presenting a multi-generational opportunity to establish a sustainable rare earths supply chain in the US. The support from EXIM Bank further highlights the strategic importance of Halleck Creek in reducing U.S. dependency on foreign suppliers.

The Halleck Creek project in Albany County, Wyoming, is the cornerstone of ARR’s growth strategy. Recognized as one of the largest, rare-earth deposits in North America, it boasts a JORC-compliant resource of 2.63 billion tons at 3,292 ppm TREO. The deposit is hosted in Precambrian granites and metamorphic rocks, which contain REE-enriched minerals like monazite and bastnaesite. The coarse-grained nature of the mineralization ensures cost-effective extraction and processing.

Company Highlights

• American Rare Earth’s flagship project, Halleck Creek, is one of North America’s largest REE deposits. With a 2.63-billion-ton JORC resource at 3,292 ppm TREO, it holds the potential to meet US rare earths demand for approximately 100 years.
• The company is completely focused on developing a US-based critical minerals supply chain, aligning with US policies to reduce reliance on China for rare earth supply.
• The Halleck Creek project’s planned development consists of two phases. Phase 1 entails development of the Cowboy State mine, which is located entirely on Wyoming state land, enabling faster permitting and streamlined regulatory processes. Subsequently, cash flow generated from CSM will support development of the federal portions of Halleck Creek in Phase 2.
• This phased approach allows ARR to accelerate its pathway to production, enhance shareholder value, and strengthen its position as a key domestic supplier of rare earth elements in the United States.
• Well-positioned to address critical supply chain vulnerabilities, Halleck Creek benefits from strong federal and state support, including a non-binding EXIM Bank letter of interest for funding up to $456 million.

This American Rare Earths profile is part of a paid investor education campaign.*

Click here to connect with American Rare Earths (ASX:ARR) to receive an Investor Presentation

Corazon Mining (ASX:CZN) unlocks value in high-quality base and precious metals projects in Canada and Australia. Focusing on the MacBride Project reflects Corazon’s growing demand for copper, zincand gold, while concurrently maintaining the Lynn Lake project as a significant, strategic nickel asset for the future.

The MacBride project is Corazon Mining’s recent acquisition exemplifying high-grade, near-surface mineralisation. MacBride holds drill-defined, high-grade copper-zinc-gold deposits, with multiple geophysical anomalies that indicate significant exploration upside.

Located just 60 kilometres from Lynn Lake, MacBride benefits from the infrastructure and logistical advantages of the established mining district. Corazon’s ongoing work will focus on drill testing these targets, to establish a camp of base and precious metal massive sulphide deposits at MacBride.

Company Highlights

• Corazon’s exploration focus is on its recently acquired MacBride Project, which has proven prospectivity for high-grade copper-zinc-gold-silver.
• MacBride is located in the Lynn Lake District of Manitoba, Canada, where Corazon also owns 100 percent of the entire historic Lynn Lake nickel-copper-cobalt sulphide camp.
• Lynn Lake provides a unique opportunity for the creation of a large-scale, polymetallic-processing hub, with established beneficial infrastructure, including low-cost renewable hydroelectric power.
• Corazon’s assets are positioned in a historically productive district, where large-scale deposits have been previously mined. MacBride’s proximity to other major deposits supports its potential for a new, large-scale discovery.
• With a small market cap and large, high-quality assets, Corazon offers a compelling investment opportunity. Though its nickel sulphide resources rival those of larger competitors, Corazon remains significantly underappreciated in the market.
• Lynn Lake’s location in a mining-friendly jurisdiction, with access to hydroelectric power, road and rail infrastructure, enhances project economics and accelerates development timelines.

This Corazon Mining profile is part of a paid investor education campaign.*

Click here to connect with Corazon Mining (ASX:CZN) to receive an Investor Presentation