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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.


TSX:S - Post by User

Sherritt International Corp > $60 mil debt retired for $45 mil cost no extension
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Comment by Maxmoeon Jun 03, 2022 4:47am
101 Views
Post# 34728719

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:$60 mil debt retired for $45 mil cost no extension

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:$60 mil debt retired for $45 mil cost no extension Where exactly is the company model showing $302mm ebitda at $12 ni? What is model at $10 ni?
Ernieandbert wrote: Not what he wrote this morning at 7:45am:

"At current commodity prices, we model EBITDA over the next 12 months of $230 mln and FCF of ~$70 mln - an implied EV/EBITDA of 2.1x and FCF yield of 15%. FCF will be used to support deleveraging and expansion initiatives at Moa."  

He can model whatever he wants but the co's own sensitivity analysis shows: $12/lb Ni at $302mm Ebitda for year.  I model $303mm at current Ni, Co, and Fertilizer prices (Uhmmm...same as S so I think I am spot on).   Add back about $5mm in cash interst expense and you get $140mm of FCF.  That would buy back almost half the remaining debt at Par.  And shows EV/Ebitda at under 2x for 2022 and under 1x for 2023.   

Uhmmmm   




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