Sherritt International Corp T.S

Alternate Symbol(s): SHERF

Metals & Mining Industrial Metals & Minerals

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.

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Comment by rkhoslaon Nov 04, 2023 3:04pm

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Post# 35717609

RE:RE:RE:RE:RE:Reality

So basically the Cobalt swap / guarantee of $115 mil or whatever the number is per year is dead after year one??!! In fact did not even make it through year one before we had to GIVE BACK $15mil??? LAME

Contrarian333 wrote: My meaningless drivel comment was aimed at the guy who posted that he "knows someone who works there and they're in a lot of trouble". I hate throw away comments like that.

Of course at low commodity prices the full payment of the 2024 obligation of the cobalt swap is at risk IMO. The build up of working capital at Moa in 2022 is really what allowed for the robust payment in 2023.

A substantial issuer bid will also depend upon the companies cash position at the time that they become eligible to do so (end of January if they make the next PIK bond payment in cash).