Sherritt International Corp T.S

I actually am finding some consolation

[rkhosla]

I like that "take charge of the problem" sort of tone of this statement. I like that they will receive $20 million prepayment. It proves they can still sell their nickel at least. This is better than I was expecting. And I like the tone more importantly.

[Sanguinity]

They doubled the rate they are losing money from Q3 to Q4. They are now losing $53 million every three months. They themselves state they had only $63 million in cash at the end of December. This is accelerating.  A $20 million presale is just a lifeline.  They won't make it past the end of this quarter if there isn't some miracle.

[Stratocheif]

They don't even have 63 million cash. It's something like 43 million available credit and 20 million cash. This company is a stones throw away from bankrupty

[Stratocheif]

I'm sure they will resort to thier old tricks one last time to try and stay alive......propose another 50% haircut on the second lien and the PIKs

[VerificateASAP]

This post has been removed in accordance with Community Policy

[CommonCents123]

Net loss from continuing operations of $53.4 million, or $(0.13) per share in Q4 2023 and $64.3 million, or $(0.16) per share for the full year 2023, was primarily impacted by delayed nickel sales, lower fertilizer sales volumes, lower average-realized prices(3), higher maintenance costs, inventory write-downs and an increase in rehabilitation and closure costs related to legacy Oil and Gas assets

[rkhosla]

Even though I own them, I would love another 50% haircut! Wouldn't that be fantastic in regards to our overall financial position. That would be a wonderful silver lining to come out of all of this. This two-year anticipated lull in prices.