Sherritt International Corp T.S

Alternate Symbol(s): SHERF

Metals & Mining Copper

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 > 1.72 net asset per share value on Sherritt

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Comment by CPA023on Jan 08, 2024 12:28pm

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Post# 35815826

RE:RE:RE:RE:1.72 net asset per share value on Sherritt

Excerpts from the 2022 Annual Information Form:

Page 16

MOA JOINT VENTURE

The Moa Joint Venture is a vertically-integrated nickel and cobalt mining, processing, refining and marketing joint venture between subsidiaries of Sherritt and GNC. The operations of the Moa Joint Venture are carried on through three companies:

Moa Nickel S.A. (“Moa Nickel”) – owns and operates the Moa, Cuba mining and processing facility
The Cobalt Refinery Company Inc. (“CRC”) – owns and operates the Fort Saskatchewan, Alberta metals refinery
International Cobalt Company Inc. (“ICCI”) – located in Nassau, Bahamas, acquires mixed sulphides from Moa Nickel and other third party feeds, contracts with CRC for the refining of such purchased materials and then markets finished nickel and cobalt.

Sherritt and GNC each hold 50% of the issued and outstanding shares of each of these companies, the financial results of which are equity accounted into Sherritt’s consolidated financial statements.

Page 18

FERTILIZERS

The Fort Site is comprised of Sherritt’s 100%-owned fertilizer and utilities operation located in Fort Saskatchewan which provide inputs for the metals refinery and produces agricultural fertilizer for sale in Western Canada.

VALUE

For the value of land and buildings in Fort Saskatchewan, I have not seen documents giving a value for them. I just assumed that the present fair market value would be higher than the original cost giving the increase in value of land and buildings in Canada in the last 20 years.