Summary by Moomoo AI
IRC spot (IRC) released its second quarter operating data for the three months ended June 30, 2024 on August 9, 2024, showing a decline in production and sales due to mineral and mining issues. Second-quarter production increased by 13.2% compared to the previous quarter, but decreased by 13.5% compared to the same period in 2023. Sales also increased by 12.6% from the previous quarter, but decreased by 18.6% compared to the first half of 2023. The company's cash balance decreased to $39.4 million, and net debt increased to $23.9 million, mainly due to delayed receipts caused by bank transfer issues. The company has reached an agreement with MIC Invest Limited Liability Company to extend the deadline for repayment of the loan principal in installments to August 15, 2024. In addition, the company...Show More