RE:RE:RE:RE:RE:RE:RE:RE:Let them eat cake? You're not seeing the forest for the trees here. We have only ever had one partner in Cuba. Even when we were into telecom and hotels and whatever else Sherritt was into in the past in Cuba. That partner is the Cuban government. Full stop. They own and operate everything. It is a nationalistic/communist state. so it's totally disingenuous to pull out your org chart and say these things are separate. Yes contrarian we all get it. On paper it is all nicely laid out. But step away from that and the basic facts are we have partnered with the Cuban government for many many years and they have consistently fallen behind in paying us. Now there is cash.
One interesting thing is I would actually disagree that the Cubans are incentivized to get the cash out of the JV. Because we have the receivable agreement. And any dividend declared by the partners over a certain threshold is diverted to Sherritt. Both shares. Their share and our share. So presently they have a disinsentive frankly to agree to a divy. Whereas it is highly in their interest for the JV to continue spending on capital/expansion. Do you disagree with this last point? Why declare a divy and simply see your share diverted up to Canada when you can invest in a hard assett in your home country?
Contrarian333 wrote: Overdue receivables have to do with the former oil and gas business and the small power business where Sherritt is paid by the Cubans. Not the nickel business where the cash flows as I have described.
Nickel business expenses are paid by the JV.
Your conclusions are inaccurate.