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irc ltd (1029) Details

IRC Limited, an investment holding company, engages in the development and production of industrial commodities products in the People’s Republic of China and internationally. The company operates through four segments: Mines in Production, Mines in Development, Engineering, and Other. The Mines in Production segment comprises iron ore projects in production phase, which include the Kuranakh project that produces titanomagnetite and ilmenite concentrate products located in the Evreyskaya Avtononnaya Oblast, the Russian Federation. The Mines in Development segment consists of iron ore projects in the exploration and development phase comprising the Kimkan and Sutara project, a magnetite project situated in the Jewish Autonomous region; Garinskoye project that focuses on iron ore deposits in the Amur region; Bolshoi Seym, an ilmenite and magneite project; a molybdenum exploration project; and the Kostenginskoye and Garinskoye Flanks project located in the Russian Far East region. The Engineering segment holds a 70.3% interest in Giproruda, a mining research and consultancy institute, which engages in the design, construction, and commissioning of quarries and mines for mining clients. The Other segment has an interest in a joint venture agreement for the production of vanadium pentoxide and related products, as well as various other projects located in Heilongjiang, North-Eastern China. IRC Limited is also involved in the provision of general trading, financing, engineering, and procurement services; and development of titanium sponge. The company was founded in 2010 and is headquartered in Central, Hong Kong. IRC Limited is subsidiary of Cayiron Limited.

1,262 Employees
Last Reported Date: 08/30/16
Founded in 2010

irc ltd (1029) Top Compensated Officers

Chief Executive Officer, Executive Director a...
Total Annual Compensation: $696.0K
Compensation as of Fiscal Year 2015.

irc ltd (1029) Key Developments

IRC Limited Reports Unaudited Consolidated Earnings Results for the Six Months Ended June 30, 2016

IRC Limited reported unaudited consolidated earnings results for the six months ended June 30, 2016. For the period, the company reported revenue of $16.147 million against $43.047 million a year ago. Net operating loss was $9.758 million against $196.352 million a year ago. Loss before taxation was $11.224 million against $199.084 million a year ago. Loss for the period attributable to owners of the company was $9.945 million against $198.570 million a year ago. Diluted loss per share was 0.16 cents against 4.05 cents a year ago. Net cash used in operating activities was $5.743 million against $8.616 million a year ago. Purchases of property, plant and equipment and exploration and evaluation assets were $6.080 million against $44.151 million a year ago. Underlying loss attributable to owners of the company, excluding impairment charges was $9.798 million against $9.044 million a year ago.

IRC Limited, H1 2016 Earnings Call, Aug 31, 2016

IRC Limited, H1 2016 Earnings Call, Aug 31, 2016

IRC Limited Announces Drying Unit Commences Hot Testing Prepare for All-Season Operation

IRC Limited announced that K&S's main contractor, CNEEC, has commenced the testing of the Drying Unit, preparing K&S for all-season operation. The Drying Unit removes excessive moisture from the iron ore concentrates and prevents the product from freezing in the cold winter weather. Last week, CNEEC tested the mechanical parts of both rotary drying drums of the drying kilns, and has scheduled to conduct the hot testing of the drying drums together with burners soon. The two rotary kilns, consist of two burners and two drying drums, are the key components of the Drying Unit. The Drying Unit will only be needed for K&S's production during the cold winter. Based on the current commissioning timeline, the Drying Unit is on track to be fully operational before winter, allowing commercial production of K&S in cold weather.

 

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Valuation 1029 Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 46.6x
Price/Book 22.6x
Price/Cash Flow NM Not Meaningful
TEV/Sales 8.9x
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