Fort (non) expansion.One point that did not get a lot of attention from this forum : Sherritt will not to invest in the Fort smelter to refine the totality Moa increased production. Instead, any excess concentrate will be sold on the market.
When you think about it, sending concentrate from Moa to Halifax and railed to Alberta is quite costly. Of course, if they could ship it to Thunder Bay, it would decrease the costs materially but then, they can’t while there are US sanctions. Anyway, if they had to build this smelter today, pretty sure they would not locate it in Alberta but probably on the East Coast.
All this to say that by not investing on the smelter, it shows that Binedell has pretty good common sense by not increasing additional capital spending for no risk adjusted return.
What will be his next move ?
GLTA