Sherritt International Corp T.S

Nickel Manipulation: NOT

[HeavyMetalFacts]

People who track the metals markets were well aware of the large non-market nickel stockpiles.   The BMO estimate of those tonnes is almost certainly low.    It will take a while for all the nickel from the $5/pound days to get used up.    Remember the hedging that Sherritt did at around the $7 mark. They obviously have a sense of how much is out there and hence the insurance policy hedging at what some people thought was very low.   Turns out Pathe knows what he is doing.   Hopefully he will find a worthy replacement.  It is only a matter of time when nickel is needed.    BTW, the nickel matte is only around 70% Ni, while our product is >95%.  Be Patient and GLTA

[thenorthvanman]

Sherritt's Ni is LME grade. Meaning a minimum of 99.8% pure. Also, I don't think anyone has a crystal ball and Sherritt is just protecting against potential bankruptcy with the hedge.

[rkhosla]

99.8% is the min purity for class one...  Yes it would take some time to soak up all the 'off warrant' stock.  NV man my understanding of the rules around load out queues (LILO) and various LME penalties has actually resulted in less not more stock in warranted lme warehouses.  Here's a great document describing the situation and the trend of    keeping metals