help with the red spots:

These twelve months and better my darling has left the shore
He ne'er will come back till he travels the globe all o'er
And when he returns [he'll bring silver and gold in store;]
He's the fondest of lovers, sweet Jimmy mó mhíle stór

This is a verse published in PW Joyce (1909) as "Jemmy mo veela sthore"; the phrase in brackets would appear to be different from the Chieftains recording (which I don't have a copy of.

Joyce gives the tune which I am familiar with, perhaps best known through the singing of Dolores Keane.