RE:RE:RE:RE:RE:RE:Why do you guys like Sherritt?Great post. Agree the JV is opaque and they have yet to demonstrate they are now churning out money (which I believe they are) and so the impression you describe below is difficult to dispute. This quarter they won't quite have the same excuses in regards to energy prices which of come down a little and other inputs which have come down much more. On average we have higher commodity prices this quarter as well. So the market needs some hard evidence they are profitable in this environment. Sherritt needs to show it...
Stratocheif wrote: Its not the past that looks bad. Its now. Nickel over $8 and thier cash position declined 5 million in the last quarter. I wouldnt exactly call that spitting out cash. A few years ago nickel was in the $4 range and thier sp went to $1.40 AND they were paying interest on all thier bonds AND energy prices were high. Today, theyve stolen 40% of the bondholders money reducing thier interest psyments. They doubled thier sharecount issuing about 180 million shares @ 1.35 bringing in a ton of money....where did it go?? And they have the nerve to say they reported a loss again due to higher energy and sulfer costs. Energy costs were high years ago too, nickel was lower and they were doing ok. This company is smoke and mirrors. They cant take control of thier finances because they are at the mercy of thier "cuban partners" they are at the mercy of a bankrupt cuban government thats what it really is. Partnerships rarely have a good outcome especially when the partner is bankrupt and cant hold up thier end of the commitments. And thier r&d operations...there is no indication they will bear any fruit. Its just another of sherrit's many money pits. They claim there are dozens of mining operations all over the world using sherritt patents under licence....from decades and decades of r&d work. Can anyone show me the loads of money these licences bring in because ive looked at thier financial statements for years...never seen a dime. The only people making money here are the executives of the company.