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Sherritt International Corp T.S

Alternate Symbol(s):  SHERF

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.


TSX:S - Post by User

Bullboard Posts
Comment by Contrarian333on Apr 18, 2019 10:00am
170 Views
Post# 29643861

RE:RE:Sherritt's Position re Title III

RE:RE:Sherritt's Position re Title IIIWell if guess if nobody else is going to take a crack at this I will.

Here is the thing. 1.  the entity holding the nationalized Moa nickel mine is a JV between Sherritt and Cuba to which Sherritt contributed a refinery.  It is not clear that there is a path to suing this legal entity.  2. if a judgement was successfully pursued against Sherritt itself (and here you have to think about whether Citibank would do so given the difficulty in collecting) there are laws in place in Canada (and the EU) both of whom do not recognize the legitimacy of Helms Burton and which allow for counter suits - so in effect Citibank's business/assets in Canada would be at risk of a counter judgement and loss of assets.

A bunch of noise and unfortunately hardship for the Cuban people is all I see.  We'll see what the impact of all of this is on overdue receivables from the other business units - an announcement about which I continue to impatiently await.

 
Bullboard Posts