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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Individual Rest | IRC | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
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|---|---|---|---|---|
| 0.00 | 0.00% | 9.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 9.50 | 9.50 |
| Top Posts |
|---|
Posted at 18/4/2010 08:48 by dealit Results out tomorrow 19th Director bought heavy in Feb also trading statement very positive indeed, I cannot understand why no buying pre-results from investors. |
Posted at 24/7/2006 13:21 by energyi IRC Updates Investors On Voisey's Bay Royalty Payment And Western Australian Gold Royalty Acquisition-------------------- DENVER, COLORADO -- May 23, 2006 - International Royalty Corporation (TSX: IRC) (the "Company" or "IRC") is pleased to provide further details on the Voisey's Bay royalty payment recently received and an update on its Western Australian gold (WAu) royalty acquisition. On May 15, 2006 IRC reported the receipt of the first royalty payment from the Voisey's Bay royalty. IRC's preliminary analysis of the first royalty payment reveals three factors that cause the actual royalty calculation to differ from the initial projections. These factors include; higher smelter and refining costs than originally anticipated, a difference in the interpretation of the royalty contract and calculation, and significantly higher commodity prices than those used in the original projections. Depending on the commodity price assumptions used, the effect of the first two factors could result in a shortfall of 15% to 25% compared to initial projections. However, taking into account both of these factors and using current commodity prices, payments on the royalty may amount to as much as 50% more than IRC's original base case projections. Due to the nature of the sales agreements on the Voisey's Bay concentrates, in which proceeds are not remitted until 90 to 180 days subsequent to shipment from the mine, the proceeds received during the first quarter primarily represented partial payments on the first two concentrate shipments in November and December of 2005. In addition, revenue recognized on the royalty will always lag production from the mine by one to two calendar quarters. As IRC begins to receive full quarterly payments, and as the mine continues to increase production to full capacity, royalty revenues and cash flow will increase accordingly. IRC is seeking additional information and clarification with respect to some aspects of the royalty calculation and is carefully evaluating all options for resolution of the interpretation issues. On April 18, 2006 IRC announced that it entered into a binding agreement to acquire the WAu royalty. An application has been made with the Foreign Investment Review Board of Australia for the routine review of this acquisition. It is expected that the application will be processed by June 10, 2006 and that IRC will be able to close the transaction at any time on or after June 12, 2006. At closing, IRC will receive the royalty proceeds for the first quarter of 2006 from the Southern Cross Mine. Since the signing of the definitive agreement for the WAu royalty, the total Measured and Indicated Resources reported for the South Laverton project have increased from 460,695 to 962,657 oz, as shown in the table below. IRC is very pleased to see this internal growth on one of the many properties covered by the WAu royalty in such a short time from the signing of the definitive agreement. ...MORE: |
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