IRC (HK:1029) has released an update.
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IRC Limited experienced a slight increase in iron ore production and sales in Q3 2024 compared to the previous quarter, amid a challenging market environment with lower iron ore prices. The company has started utilizing the Sutara deposit, contributing to a modest production uplift despite earlier quality issues. Despite these efforts, IRC’s cash balance decreased due to lower profitability and increased operating costs.
For further insights into HK:1029 stock, check out TipRanks’ Stock Analysis page.
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