Sherritt International Corp T.S

Quick math: 720,000. Link todays date.

[rkhosla]

US will take 30,000 Cuban immigrants per month for 2 years.  That is a very substantial percentage of the island's population.  Much much higher than albatrosses sherr ownership. Higher even then contrarians.  Exodus will continue.  

https://apnews.com/article/politics-mexico-immigration-af0643a4fb8f45388fe247e44c9b2c5e

[Contrarian333]

Nope!

[rkhosla]

lol he shows his hand ; ) MORE than 6.5%??!!  26 Million shares??  For reference Cuba pop is 11mil so 720k / 11mil = 6.5%.  So you are the mystery just under 10% reporting threshold guy after all....

[CNG1978]

What is important about 19.9%, 9.9% and 4.9%. Why is this so important to venture equities and to Bay Street and Howe Street?

[rkhosla]

At 10% you have to issue a press release and declare yourself as a significant shareholder. I forget the exact term. See the link I've included. Then you are governed by certain restrictions. Furthermore if you increase your stake further you have to make other declairations etc... So significant shareholders like to stay under 10%. Unless they want their stake to be known.  see link

[CNG1978]

Thank you for this. Is this then linked to Canadian tax regulations?

[rkhosla]

Canadian? Ontario? Securities legislation/regulation.  So you can't secretly acquire influence in a company or take it over by stealth.  US / SEC has similar rules.

[CNG1978]

Thank you for that as well. I got the secret influence part. Missing the Ontario vs Canada tax implication part. Excuse my ignorance. Lol

[rkhosla]

np.  i do not believe it has anything to do with tax.  it is there to protect a publicly traded company's interest and shareholder interest.  

[CNG1978]

Ok thanks again, just trying to understand a little more about things that I don't.

[rkhosla]

Well the bottom line is this is the reason why Contrarian keeps his stake just below 9.9%.  Today he told us it's bigger than 6.5%.  So he has given us a range....

[CNG1978]

Yes, but did Comtrarion buy Magna Mining? Lol

[CNG1978]

It was up 23% today.

[CNG1978]

It's beyond me how Magna will scream past Sherrits market cap. I don't understand why. Why is Sherrit still at 56 cents. I don't get it.

[CNG1978]

Who was that insightful gentlemen I used to watch occasionally on BNN. It was dubbed Contra the Herd.

[CNG1978]

https://m.youtube.com/watch?v=IIwi6DTP7pw Paul Simon always jumped out to me for some reason when I would watch Benj on Contra the Heard. I met Benj and Paul Van Eeden one night on separate floors at the Royal York at PDAC. That was a long time ago though. Good night from Thunder Bay. Lol.

[CNG1978]

Is this related to why Barrick maintains its stake in Hemlo. Mining pillars between mined out mines. Is this just to maintain a Canadian operations for other reasons?

[rkhosla]

You can find it here in IIROC https://www.iiroc.ca/sites/default/files/2021-10/Attachment_3_Updated_version_of_the_IIROC_Rules_en.pdf

[Oaxacan]

Who cares what Contrarian does or does not own? It is not your or our business. You have been posting here on Sherritt since at least December 2 of 2013, when the stock closed at $3.39 per share. You have had plenty of time to and opportunity to add to your position. Perhaps you are the significant holder. 

[Albatross]

I think it's interesting to know what different people's stakes in the game are. Obviously its up to Contrarian to choose to disclose if he wants to.. it's still fun to hypothesize which is all rkhosla is doing.. at the end of the day who cares about what anybody says about anything. What does anything matter on this site?  

[rkhosla]

Yes it is is all fun (and all meaningless in the end).  Contrarian knows what my stake was two years ago when we last talked - I have added to it since.  But trust me, I will always be an outsider/small fish :-).  It is informative for me to know he represents a greater than 5% stake - I always had that general sense and I don't think it surprises anyone here - I think he has

[Albatross]

Ha yeah much richer to line up a trip to Toronto at the same time as the AGM. But you never know :O

[YourFriendo]

3% and counting 

[rkhosla]

WOWZA! That is BIG-ly Friendo. Are we sharing???  Do I show you mine now?  0.8888% / 3.54mil shares.  This ragtag measly little board has a lot of POWER.   We should form a consortium and keep these guys on their toes. I am eagerly awaiting my AGM material. However even if we did form a consortium or a loose group of folks collude and exceed 10% you still have to disclose.... &

[Albatross]

Yeah there's definitely some pull here. I'm glad to see that. I know I would like to see them up and base out of Alberta. Be close to a key asset and refinery production team. It may also be cheaper office space out here rather than the overpriced Toronto market. Every bit helps. The refinery isn't going anywhere anytime soon... are there any benefits to them being based in

[rkhosla]

Perhaps there used to be but I can't see any now. And why do they have a bloody Knight on their board??  Is there any possible relevance/need?  No.  It is a costly vestige of the past.  Let's start looking to the future!  No more oak paneled boardrooms and pompous dinosaurs of the past!  https://en.m.wikipedia.org/wiki/Richard_Lapthorne

[rkhosla]

This is the post in which Friendo said he owned 3%.  

[rkhosla]

Nope!