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Sherritt International Corp T.S

Alternate Symbol(s):  SHERF

Sherritt International Corporation is a Canada-based company engaged in the mining and refining of nickel and cobalt metals essential for the adoption of electric vehicles. The Company is engaged in the production of high purity nickel and cobalt metals from lateritic ore. Its technologies group creates solutions for oil and mining companies around the world to improve environmental performance. It is also the independent energy producer in Cuba. The Company offers a range of products including Nickel, Cobalt, Fertilizers and Other Products. The Nickel products category includes standard grade, steel grade, and nickel powders. The Cobalt products category includes cobalt briquettes and cobalt powders. The Fertilizers product category includes anhydrous ammonia, granular ammonium sulfate, crystalline ammonium sulfate-super salt, and crystalline ammonium sulfate-standard grade. The Other products category includes sulfuric acid, zinc sulfide, and copper sulfide.


TSX:S - Post by User

Comment by thenorthvanmanon Jan 26, 2021 6:55pm
112 Views
Post# 32392652

RE:RE:RE:RE:UH NO!!!!!

RE:RE:RE:RE:UH NO!!!!!Didn't say it was a priority over debt nor that debt shouldn't be retired as well. Outstanding debt is in excess of 400mil CAD the maximum possible buyback at today's SP is 18.5 mil. If Sherritt were to seek regulatory approval S is under no obligation to make any purchases whatsoever. This is not an either or thing. If the stock is trading at a significant discount to NAV then it makes sense to do some buybacks if finances permit. The only way for buybacks to be possible is if regulatory approval is sought. Frankly, I don't know what the rules are surrounding this given the restructuring or whether S would be permitted to do so. For myself, given the outsized value of share buybacks relative to debt retirement it makes sense to consider at least allocating some funds for this.
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