secwatch.observer — SEC 8-K summary
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Issuer:     INTEGRATED RAIL & RESOURCES INC. (—)
CIK:        0002044112
Form:       8-K/A
Filed at:   2026-06-23T20:42:12+00:00
Accession:  0001213900-26-071148
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Integrated Rail revises Shell agreement: fixed costs cut to $8.64M/yr, product fee $2.29; project at FEL-3
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- Annual fixed operating costs under Shell arrangement reduced from ~$13.4M to $8.64M; per-barrel product fee raised from $2.21 to $2.29.
- Engineering status advanced to 'FEL-3' (Front-End Loading 3), confirming $80M cost estimate for facility repurposing remains unchanged.
- Long-term offtake/tolling deal with Shell includes $11.4M annual capital cost payment and 50% gross refining margin fee.
- Expansion plan targets 16,500 bbl/d by 2027, 50,000 bbl/d by 2030, with $85M additional capex in 2028.
- Approximately 25% of pro forma shares subject to lockup until facility fully operational.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2044112/000121390026071148/0001213900-26-071148-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2044112/000121390026071148/ea0295535-8ka1_integrated.htm
  HTML page:      https://secwatch.observer/filing/0001213900-26-071148

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