Sherritt International Corp T.S

Alternate Symbol(s): SHERF

Metals & Mining Copper

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 through hydrometallurgical processes. 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. 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 Company’s 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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Sherritt International Corp

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Comment by Contrarian333on Mar 28, 2018 4:07pm

87 Views

Post# 27797719

RE:Do the math

Here are the corrections to your back of the envelope calculationsYourFriendo Back of the envelop calculation shows the precarious situation of S (all figures in millions:
69.50 Million Pounds of Nickel						32,000	70.53
X $2.85 Current Ni (5.85$) Price less NDCC (3$)					5.85	2.75	3.10
= $198.08 Total Cuban JV Cash flow beofre capex							218.64
= $99.04 Sherritt's 50% Share $						50%	109.32
(41.00) Less Sherritt's share of capex							(41.00)	Will depend on actual revenue
= $58.04 Sherritt's share of free cashflow from Cuba JV							68.32
less -$48 Interest on Sherritt public debt							(36.21)
-$25 Sherritt Corporate Costs							(17.00)	Using CAD 22, similar to 2016
= -$15.0 Net Decrease in CF 2018				Net cash flow:		USD	15.11	Plus repayment of loans from JV partner (CAD 32 in 2017)
Assumed all other business are CF neutral, which is optimistic.



	170.194	8%	13,615,520.00
	205.585	7.50%	15,418,875.00
	222.722	7.88%	17,539,357.50
			46,573,752.50	CAD
			0.77756