Sherritt International Corp T.S

Anybody buying at current price?

[Albatross]

This applies to the bulls in the room.. bears I don't know why you even stick around, guess ya'll just like being hypocrits and complaining about lost money.. 

Now that it appears the cobalt swap is doing the trick.. and Sherritt is expected to recieve another $114mil US for the next 3 years on top of their share of MOA distributions, is anybody out there on this board buying? Or are we all just holding our breath? End of July means sherritt will satisfy a key step in providing Sherritt with the ability to provide returns to equity holders... 

Granted, nickel prices aren't entirely cooperating with a bullish outlook. But our company is worth $197mil CAD at the moment. Considering what's coming in, and what remains to be paid off, it may not be muich longer before we see something.

"Satisfying the Junior PIK Notes interest in cash, rather than payment-in-kind, is a key step in providing Sherritt with the ability to provide returns to equity holders."

[VerificateASAP]

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[Oaxacan]

For further clarification read "Section 4.08 Limitation on Restricted Payment "   as found in                                                                               TRUST

[FrozenInOntario]

Just reread it.   Pretty clear that while they defer paying interest,  they are not allowed to make any restricted payment 'if in the immediately preceding 12 month period prior to the date on which such Restricted Payment is being made, the Company has satisfied any interest obligations by way of PIK Interest being deferred and added to the principal amount of the outstanding

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[Oaxacan]

I am 100% in the PIKs which have now reverted to cash pay. I will use the interest income to add to my nickel position. The cash yield is well in excess of 14%. That works for me.

[VerificateASAP]

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