Sherritt International Corp T.S

RE:what are we worth now

[shakerman640]

5% of the Ambatovy Joint Venture = $600 million

100% of the Ambatovy Joint Venture

= $600 million / 0.05 or $600 million x 20

= $12 billion

40% ownership of the Ambatovy Joint Venture

= $12 billion x 0.40

= $4.8 billion

Sheritt International Corporation’s 40% ownership of the Ambatovy Joint Venture is currently valued at approximately $4.8 billion.
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https://www.snclavalin.com/en/sale-of-interest-in-ambatovy-nickel-project

SNC-Lavalin exercises its option to sell its interest in Madagascar’s Ambatovy Nickel Project

Montreal September 30, 2015

SNC-Lavalin (TSX: SNC) announced today that it has exercised its option to divest its five percent ownership interest and the balance of its loans in the Ambatovy Nickel Joint Venture Project, a laterite nickel mine operation and a hydrometallurgical processing plant in Madagascar, to Sumitomo Corporation, an existing partner, for a cash consideration of approximately CDN$600 million.

The Company was initially awarded an EPCM contract for the Ambatovy nickel and cobalt operation in 2007. The minethe largest capital project in Madagascar’s historyhas a capacity to annually produce 60,000 tonnes of refined nickel, 5,600 tonnes of refined cobalt and 210,000 tonnes of ammonium sulphate fertilizer for a minimum of 29 years. On September 21, 2015, the Ambatovy project achieved financial completion. Accordingly, SNC-Lavalin has chosen to exercise its put option and has received its proceeds.

“We are pleased to have been involved in building the Ambatovy operation with our joint venture partners these past seven years and helping this unique mining project achieve crucial key milestones over this time,” said Robert G. Card, President and Chief Executive Officer, SNC-Lavalin Group Inc. “With nickel being the country’s largest export, Ambatovy will continue to contribute to the country’s future growth and generate long-term economic and social benefits for the people of Madagascar.”

“This divestiture process is another step forward in executing our Company's strategic plan to monetize certain assets within the Infrastructure Concession Investments portfolio,” said Neil Bruce, Chief Operating Officer, SNC-Lavalin Group Inc. “Ambatovy is a perfect example of how we successfully leveraged our operational and investment capabilities for the mining sector.”

https://www.sherritt.com/operations/metals/ambatovy-joint-venture

Metals - Ambatovy Joint Venture

The Ambatovy Joint Venture is a vertically-integrated nickel and cobalt mining, processing, refining and marketing joint venture between subsidiaries of Sherritt (40% ownership), Sumitomo (27.5%), Korea Resources (27.5%), and SNC-Lavalin (5%). Sherritt is the operator of the facilities. Located in Madagascar, Ambatovy is the largest finished nickel and finished cobalt operation from lateritic ore in the world.