RE:RE:Nickel trade war - Forbes 1hr agoStratocheif wrote: The US, Australia, and Canada may very well take action to help thier nickel producers just to spite China. Times have changed. I used to own Molycorp 10 years ago...the biggest and only major rare earths mine in the US at the time. The Americans let it go bankrupt because they were happy buying rare earth's much cheaper from China. Now it seems they are more mindful of thier dependence on the "enemy"
However, all of this is no consolation to Cuba and by default sherritt because the US doesn't want to help them. It wants to destroy them.
Absolutely. With the heavy-hitters shutting down to weather the price cut in nickel, our lil' Sherritt is proverbially screwed.
At the end of the year, it reported barely three months of cash left at the rate it was losing money. It has the US embargo going against it, taking away markets.
It has high costs to transport its ore all the way to Fort Sask.
It has the crash in nickel prices, cutting revenues.
Cuba itself is cash starved, and even going begging for milk for its children. It is hardly going to honour any cobalt or revenue agreements with Sherritt.
All in all, the actual miracle of Sherritt is that it is somehow managing to keep its share price as high as it has. I only wonder when the short sellers will descend upon it.