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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

Comment by Ventouxon May 17, 2022 7:39am
168 Views
Post# 34688479

RE:RE:RE:RE:Ni dipped below $12 during today's session

RE:RE:RE:RE:Ni dipped below $12 during today's session FCF, which should be used to pay off the 8.5% notes of 2026 ASAP. I doubt the high yield bond market is going to forget the debt restructuring (a 50% haircut, plus a small PIK kicker thrown in) the noteholders were subject to, without a SINGLE concession made by the equity holders. Who in their right mind would lend money at par to Sherritt after the way they treated the last group of lenders? 
Shareholders should be praising David Pathe for saving their equity. Erect a statue in front of Sherritt's head office, or somethhing like that. The last consensual restructuring I was involved in, Saskatchewan Wheat Pool, a long time ago, resulted in the noteholders converting into common shares and greatly diluting the existing shareholders. Any idea as to why that didn't happen in Sherritt's case?  
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