Sherritt International Corp T.S

Alternate Symbol(s): SHERF

Metals & Mining Industrial Metals & Minerals

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.

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Sherritt International Corp > The big fraud and its impact

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Comment by rkhoslaon Feb 14, 2023 12:52pm

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Post# 35285524

RE:The big fraud and its impact

It was 880 contain loads full. 46% of present Lme Inventory. Market truly farcical

FrozenInOntario wrote: This +$ 500 million fraud is entertaining. Similar to Bre-X in a sense with its non existent gold.

However, is it a positive or negative for the nickel price ? From what I understand, that non existent nickel was financed by Trafigura and banks so that crook could hold it and sell it. Sound like a margin loan by a broker guaranteed by worthless shares. However, some $ 100 million of that stuff was sold by Trafigura to third parties. So the impact should be positive as it will have to be replaced.

But, more importantly, it chips away at the trust in the system. So we could expect an accelleration to the deals between industrial users and producers. And this should results on higher nickel prices everything being equal.

GLTA