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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. 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. It is also the independent energy producer in Cuba. 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 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

Post by Ernieandberton Jan 06, 2023 3:43pm
183 Views
Post# 35207758

Observations and Valuation

Observations and ValuationI will KISS - the market is not closed yet, but this could be a 7 month high close at $.57. Last time it closed at $.57 was June 8, 2022. Observations on just how cheaply this EV is trading now vs June/22: 1) Price of Ni was about $10 vs $12-13 today 2) Co bought back $150mm of bonds at a discount to Par (reducing int exp along w/ lev) 3) Co has about C$75mm/ann coming in through the Co swap I won't go on about valuation because not sure many/any on this board look at it like I do (stop looking at PE, EPS for a co like this) but this thing is trading at about 1x 2023 Ebitda. I have been doing this 30yrs and never seen an EV that cheap...EVER.
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