CoTec Completes Conversion of £2M Mkango Loan Note to Increase Equity Position in Maginito from 10 Per Cent to 20.6 Per Cent
As a result of the conversion, CoTec’s equity position in Maginito has increased from 10 per cent to 20.6 per cent.
- As a result of the conversion, CoTec’s equity position in Maginito has increased from 10 per cent to 20.6 per cent.
- In February 2023, CoTec and Maginito entered into a co-operation agreement in relation to rare earth element (“REE”) opportunities in the United States.
- CoTec and Mkango also expect that the Joint Venture will seek US government funding for the US Project.
- Julian Treger, CoTec CEO commented: “With the Maginito conversion completed our focus will be the operational roll out of the HyProMag technology in the United States.