Sherritt International Corp T.S

the 4th Q and forward guidance

[Contrarian333]

I could be totally wrong about this but I feel like the market was discounting worse messaging.

[rkhosla]

Yes exactly. Rather than being asleep at the wheel what I like about the statement and the tone is that they are taking charge. They are pre-selling which they don't normally do. Obviously it might not be at the best price. And it might be the worst time to kind of commit to a price if there is a rebound anticipated. However they had to do it.

[Bwrbhk]

Preselling has a cost and is a sign of desperation.

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[YourFriendo]

Pre selling doesn't mean hedging. They could forward sell the product at the market price at time of delivery.  I.E, give me 7$ a pound now, we'll square up the final price later. Of course this will come with a steep discount in the settlement price and financing charges.

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[Sanguinity]

He is exactly correct.  You mischaracterize what he's said.

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