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 > Cash or PIK on the January 31 interest payment?

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Post by Ventoux1on Jan 16, 2024 1:50am

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Post# 35828285

Cash or PIK on the January 31 interest payment?

As at September 30, 2023 the outstanding principal amount of the PIK Notes was $63.4 million with the next interest payment on the PIK notes being January 31. Reverting back to payment in kind would save just in excess of $6.8 million in cash on an annual basis, in excess of 50% of the annual employee cost savings of $13 million expected to be realized that were announced on January 15. Desperate times call for desperate measures?