EastCoal (TSE:CTH) has released an update.
CoTec Holdings Corp. has completed a promising initial Mineral Resource Estimate and Preliminary Economic Assessment for the Lac Jeannine Iron Tailings Project in Québec, boasting an inferred resource of 73 million tonnes of iron at 6.7% purity and financial projections suggesting a pre-tax NPV of $93.6M. The project promises environmental benefits by reducing liability at the orphaned Lac Jeannine site and has an estimated payoff period of 2.5 years with significant annual production expected over a decade. CoTec is now moving towards a comprehensive Feasibility Study to further validate the project’s potential.
For further insights into TSE:CTH stock, check out TipRanks’ Stock Analysis page.
