Sherritt International Corp T.S

Billions of dollars for a teacup of nickel

[Sanguinity]

https://www.fastmarkets.com/insights/glencore-koniambo-nickel-joint-venture-andrea-hotter/


Reading this made me suffer flashbacks of Sherritt's misadventures in pissing billions away to develop Ambatovy

[CommonCents123]

What a mess.  Expansion when there is a glut?  Makes no sense.  Not realy sure why Clearwater bought in.  Maybe they got hooked by reading some of the promtion that was going on here at stockhouse. Sherritt sits at $0.26...how long before they close their doors?  It's happening all around the globe...why not Cuba. China is failing, that I believe.  Perhaps this

[rkhosla]

Clearwater got their shares for free. They made so much money presumably buying bonds at distressed pricing and then selling them.  so they put a tiny bit of that profit back into the common shares as a gamble. Then it wasn't performing well so they bought a couple extra to cross the 10% threshold and to disclose their ownership hoping that would juice things. This is speculation on my

[CommonCents123]

Sounds reasonable,  hope they pressure the Binedell board somehow to fix things. Good call.

[Stratocheif]

Hey. Fund managers aren't God you know. They make mistakes like everyone else. Sprott also bought sherritt....small stake but a position nonetheless. The better the fund manager, the better they are at minimizing risk of big losses. That's why Sprott's sherritt holding was just a tiny fraction of thier portfolio. If it goes to zero, it doesn't affect them much. But if I were them o

[Contrarian333]

Clearwater doesn't "gamble"!

[rkhosla]

The rest of my supposition is correct though, right?   Presumably their cost base is zero.  

[YourFriendo]

JoJo Rabbitt does.

[rkhosla]

is Clearwater always hundred percent right though? On the money? Is BHP always right?  is vale always 100% correct? Even the Giants get humbled. Along with puny little twerps like me.