RE:RE:Dec. 15th AGM Honestly, they have that 50 year old (I think older) plant that runs year after year with similar numbers. This should not be a penny stock anymore as they have stop wasting huge amount of money in stupid projects instead of upgrading the capacity of their best plant!
The only reason why it is a penny stock now is the previous history with David Pathe's terrible strategic choices. With nickel at 7$+ the debt will be cleaned in no time.
Big investors usually avoid penny stocks due to the instability of the stock and high risks.
So it is difficult for Sherritt to be able to develop anything (like funding to upgrade capacity of proven technology (their plant) that generates nice profits) if the stock is underrated and big investors just don't invest a lot in penny stock.
This is what I think but correct me if I am wrong.
They are likely looking to upgrade capacity/need a bit of Capex.