Sherritt International Corp T.S

Tax losses

[CPA023]

Included in Note 9 of the December 31, 2023 financial statements:


"As at December 31, 2022, the Corporation had non-capital losses of $962.2 million (December 31, 2021 - $948.2 million) and capital losses of $1,128.5 million (December 31, 2021 - $1,128.8 million) which may be used to reduce future taxable income. The Corporation has not recognized a deferred tax asset on $962.2 million (December 31, 2021 - $948.2 million) of non-capital losses, $1,128.5 million (December 31, 2021 - $1,128.8 million) of capital losses and $234.4 million (December 31, 2021 - $252.2 million) of other deductible temporary differences since the realization of any related tax benefit through future taxable profits is not probable. The capital losses have no expiry dates and the other deductible temporary differences do not expire under current tax legislation."

 

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[FrozenInOntario]

So Sherritt has a pretty nice tax asset that could be brought back on the balance sheet whenever future taxable profits become probable.    Do not see how they can use the capital losses however.  If they ever book this asset, it will mean that the turnaround is truly completed and the stock will have rerated much sooner.   This being said, they will not pay taxes in

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