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IRC ( (HK:1029) ) just unveiled an announcement.
IRC Limited reported a 4.5% increase in production volume and a 5.1% rise in sales volume for the fourth quarter of 2024 compared to the previous quarter. Despite these improvements, the company issued a profit warning due to ore quality issues earlier in the year, which led to a 3.6% decrease in annual production compared to 2023. The company completed a rights issue, raising approximately $46.3 million, which improved its cash balance significantly. The extension of a loan repayment deadline and voluntary early repayments were also notable financial activities. The depreciation of the Russian Rouble and an increase in the average Platts 65% iron ore index were additional factors impacting the company’s financial performance.
More about IRC
IRC Limited is a company incorporated in Hong Kong, operating in the mining industry. It focuses on the production and sale of iron ore concentrate, primarily from its K&S project, which includes mining operations at the Sutara deposit.
YTD Price Performance: 40.0%
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $141.4M
For an in-depth examination of 1029 stock, go to TipRanks’ Stock Analysis page.