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Highlights of the Six Months Ended December 31, 2024
(Unless otherwise noted, all financial amounts in this news release are expressed in U.S. dollars)
IBC is reporting the performance of "continuing operations" at its Copper Alloy division, "discontinued operations" at its Massachusetts facility, and a combination of continued and discontinued operations.1
Copper Alloys division (continuing operations) sales of $7.1 million in the six-month period ended December 31, 2024, compared to sales of $12 million in the comparable prior-year period. $3.2 million of the relative decline was primarily driven by two large, non-recurring orders in the comparable period of fiscal year 2024, with the balance due to softer market demand. The Company's Engineered Materials ("EM") division, where operations ceased and all contracts were completed before June 30, 2024, recorded no sales.
Copper Alloys division's fiscal year to date ("YTD") operating loss1 of $654,000 compared to operating income of $438,000 in the comparable prior-year period.
The Copper Alloys division's YTD gross profit declined by 44.4% year-over-year ("Y/Y") while gross margin softened by 4%.
IBC reported a consolidated YTD net loss of $2.6 million ($0.02 per share).
The Company will host a live investor webcast to discuss these results on Monday, March 3 at 10 a.m. Eastern.
Metallurgical test work on Master Composite reaffirms production of DRI grade iron concentrate with combined Silica and Alumina below 2.5%;
DRI grade concentrate demand to grow at a CAGR of over 9.0% p.a. for the next decade according to industry forecasts
Enhanced economic magnetite iron recovery of 83%;
Variability test work of the primary domains has commenced;
Additional test work focused on equipment sizing is now ongoing ;
Feasibility study targeted for Q1 2026
(All numbers reported in US dollars)
Read MoreFaits saillants:
Produit net estimé de 15,7 M$ CA provenant de la vente du terrain et du bâtiment à Candiac, au Québec.
Renforce la trésorerie et permet de mettre à profit le financement gouvernemental annoncé en 2024.
Soutient l'expansion de la capacité de production à Candiac à plus de 1000 tpa de cathodes LFP.
Assure la continuité opérationnelle et la stabilité à long terme.
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