Sherritt International Corp T.S

Indonesia PM coming to Washington

[rkhosla]

hopefully some push back over allowing Indonesia to benifit under the inflation Reduction Act:

https://asia.nikkei.com/Spotlight/Supply-Chain/U.S.-senators-oppose-Indonesia-FTA-that-paves-way-for-nickel-subsidies

[Johnnychoo]

This post has been removed in accordance with Community Policy

[Albatross]

Hopefully Indonesia equally feels the pain of low nickel prices and does not continue to expand production like crazy. The growing market needs more nickel but unfortunately for us shareholders everything is pointing to a flooded nickel market and maybe a slower EV growth. The debt we have reduced will help somewhat with lower interest expense but there are concerns. And we still have another 2

[CommonCents123]

Agree 100%.  It seems Sherritt keeps getting caught in the wrong cycle.  When they invested in the Ambitovy operations the Nickel market plummeted and basically almost killed the company.  They got out from under that death nell and now, the kneejerk reaction to EVs is causing ramped up production of Nickel everywhere.  The miners are killing their own market.  The gluts

[rkhosla]

I just cannot swallow the $15mil going in the wrong direction.... Money is meant to flow out of the JV to us.... and not back again.... this is a giant red flag.  

[Albatross]

yes red flag.. the JV is clearly hurting... They had to hold on to nickel as they could not make a sale happen... but they think the market will return to normal in the 4Q and they will be able to offload the nickel.