IRC (HK:1029) has released an update.
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IRC Limited reported a mixed second quarter for 2024 with a 13.2% increase in iron ore production compared to Q1, but a significant 13.5% drop year-over-year. Despite the increase in production and sales this quarter, the company faced issues with ore grades and bank fund transfers, leading to a lower cash balance and increased net debt. The company is actively addressing these challenges as it continues operations.
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