Sherritt International Corp T.S

Good conference call... and TWO analysts showed up!

[rkhosla]

Management sounds organized and realistic.  Big story is ndcc.  Eked out a small profit on sale of put options that they bought during brief May Ni spike.  Expansion coming along gradually and smoothly.   Power doing well.  And TWO analysts including NB Naigle - did he not drop coverage??  

Now... only if we can negotiate another extension on our notes.....

[llesage]

I was surprised with the analysts showing up for the call as well. It's been a long time since there's been a Q&A segment. Now we need some investors to show up!

[Nickbull]

Unfortunately I believe both questions were left unanswered and responses were from a loose grasp of the financials. Both of the participants were left wanting from their question.  It should not be that hard to comment on what the realized  benefit to the balance sheet will be from the cobalt swap.  I would like to see a little more salesmanship to get this share price moving.

[rkhosla]

Both questions were quite similar....  when is the $50mil coming, will it be back loaded next year also, will it be in cash or cobalt, what are the impacts of low cobalt price.  The cobalt swap has always been a bit of a black box (ie sure it all seems fine with high cobalt prices but very mysterious how it might work with low co/ni prices) and in keeping with that, his answers were

[Albatross]

As was suggested before regarding the bonds dont we kind of have a poison pill with that? If the bond holders want to get their money back with interest paid isn't their best option to keep allowing the assets to run status quo? Otherwise they would have to try and take over and manage or sell very hard to sell Cuba assets and a refinery that is geared towards a Cuba feedstock. Just my two