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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 rkhoslaon Nov 12, 2022 3:24pm
151 Views
Post# 35093952

RE:Insider Buying Etc

RE:Insider Buying EtcThanks for this.  They have certain ownership requirements they need to meet and these are assessed at their various board meetings and I think as we have heard they have this board meeting coming up in Q1 where they award themselves units.  No one is taking my PIKs from me ; )  Looking forward to the 'exponential linear' (whatever that means) rise in the SP to $4+  
Ernieandbert wrote: Anyone notice the past week's Sedi filings that CEO bought 50,000 @ .45 (owns 288,578), CFO bought 23,000 @ .44 (owns 91,200) and Honig bought 50,000 @.45 (owns 115,515).  Not a lot but it is supportive when Insiders are buying stock.   

The Coblat stream was transformative and the market has not recognized it yet.  Wait till they monetize the cobalt, buy back the debt and liquidate working capital, all with (hopefully) a nickel tailwind.  Stock is not going to sit here at .50, or $1, or even $2.  The entire EV will be in the stock.  A 1x EV/Ebitda multiple will soon become 4-5x.  At 400mm share o/s, and no debt, that would put the stock at $3-4 area.  

We will see if they can execute that, along with further deleveraging through the tenders but so far, Leo has been able to accomplish more in one year than Pathe did the past decade.  

And if anyone wants to know why they need to take out the debt, it is because both bonds have "restricted payments" covenants in them which does not allow the co to pay dividends or buy back stock.  That is the urgency to buy them back because once they do that, they can buy back stock at 1x 2023 Ebitda. 

Tender your bonds and buy the stock would be my recommendation.  


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