CoTec Notes Portfolio Company HyProMag USA Advances U.S. Hub-And-Spoke Strategy With Arrival of Inserma HDD Pre-Processing Machines at South Carolina and Nevada Sites

Executive Summary

• HyProMag USA received Inserma hard‑disk‑drive recycling machines at its South Carolina and Nevada sites, marking a key step toward commissioning its U.S. rare‑earth magnet recycling platform.
• The equipment will be installed and commissioned over the next few weeks, after which it will support feedstock preparation for the joint‑venture’s planned hub‑and‑spoke network.
• Completion of commissioning will be followed by on‑site operational milestone events to demonstrate the machines and engage regional stakeholders; further details will be announced later.

Key Details

• Equipment Delivered: Inserma HDD recycling machines placed at Intelligent Lifecycle Solutions (ILS) facilities in South Carolina and Nevada.
• Purpose: Pre‑processing of magnet‑bearing feedstocks for HyProMag USA’s planned U.S. recycling hub‑and‑spoke platform.
• Commissioning Timeline: Installation and commissioning activities scheduled over the coming weeks; exact dates to be announced.
• Operational Milestones: Post‑commissioning, small on‑site events will showcase equipment operation and involve regional stakeholders.
• Strategic Context: Builds on HyProMag USA’s expansion concept studies, pre‑feasibility work, and partnership with ILS for feedstock supply; aligns with the joint venture’s longer‑term goal of commercial operations and a U.S. public listing.
• Related Assets: HyProMag’s UK facility already operating at industrial scale using patented Hydrogen Processing of Magnet Scrap (HPMS) technology.
• Ownership Structure: HyProMag USA is 50:50 owned by CoTec Holdings Corp. and HyProMag Limited; HyProMag Limited is wholly owned by Maginito Ltd., itself 79.4%/20.6% owned by Mkango Resources Ltd. and CoTec.

Notable Quotes

• “The delivered Inserma machines represent continued execution against HyProMag USA's scalable U.S. strategy… strengthening the foundation for a domestic recycling platform.” – Julian Treger, CEO, CoTec Holdings Corp.