RE:RE:RE:RE:Nice trades on the PIK Notes, if they are legitrk,I can totally understand your reticence a year and a half ago. Nickel prices were about $18,000 per ton, the stock price was $.51 per share . The debt levels were substantially higher then as the company was not in a position to re-purchase notes. A reverse split was a potential recipe for disater. As you know all too well, a lot of good things have happened to Sherritt over the last year and a half, and yet the share price is FLAT over that time frame, and the enterprise value has gone down. OK for the noteholders, not so good for the equity holders.
At $.51 per share Sherritt is likely not on the eligible list at many small cap funds because of the penny stock nature of the company. Today's enterprise value, combined with current nickel prices and the momentum of the note repurchases cries out for a reverse split. From where I sit it appears to me that no one other than the participants on this board care about Sherritt. Many cannot care because of investment guidelines. If we want a re-valuation of this company a reverse split might help us get it.
Respectfully yours.
O