Sherritt International Corp T.S

This offers some optimism - Feb 16 - quote and link

[rkhosla]

“I think typically when things are sentiment driven, they tend to overshoot. This feels like it’s overshot. We’ve seen some green shoots in terms of investor interest, people have said we’re watching for companies with good assets, good management that have been belted too much, and you’re on our list,” Ainscough said on the sidelines of the RIU Explorers Conference yesterday.

“So I see that as a green shoot for a change in the sentiment. It’s probably controversial as a nickel company to say but the Aussie nickel price isn’t that bad if you’ve got the grade.

https://stockhead.com.au/resources/bhp-joined-the-rout-so-where-are-are-the-green-shoots-for-nickel-now/?amp

[Albatross]

He's talking about share prices for well run low cost producers... Same article says this regarding nickel price later on “I don’t think it’s going away and I think people need to be able to trim their sails and look at their assets and they need to be focusing on the ones that will make money in this kind of environment or be prepared to shutter them.”

[Sanguinity]

Agreed. Sherritt just revealed that at the end of Q4 2023 it had doubled its losses from the previous quarter, to the point that the cash on hand was now down to what they're just lost in the past 90 days. In other words, now at the halfway point in Q1 2024, the burn rate means - if not stopped - they are out of money altogether in 45 days. That's bankruptcy.  Pumping and dumping

[rkhosla]

is this accurate math? I mean their losses were not all cash losses correct?  a write down is not a cash loss.... nor is amatorization.   is smart accounting.it is smart accounting. Full disclaimer, I'm not claiming they have a smart accountant.  

[Albatross]

These prices aren't good at all. I'm sure there's a couple small band aids to stop some of the bleeding, maybe they put the expansion on hold?

[Sanguinity]

It's the numbers they presented.  They didn't couch them with "now - understand this is just messing with the numbers - we didn't actually run down the treasury".  They simply present they doubled their losses on a quarterly basis, and then said they have only have on hand the cash for about what they'd lost in Q4.