Sherritt International Corp T.S

60 million shares

[rkhosla]

So SC2 owns 40mil and Ewing Morris owns 20mil.

 And they had a nice spread between selling those shares they bought in their original bid at $.21 and buying these at 15.5 cents.

[Ernieandbert]

I hardly think SC2 is doing this for 5-10 cents.  I think they are doing this to become "active" in concert with a new partner, Ewing Morris, and to affect some serious changes that need to be made at both the Board and Management level.    

[rkhosla]

True - but Clearwater was also in it for profit and they walked away w a loss presumably (at least in the common - I think they bought them with free money sourced from profit on bonds)

[Contrarian333]

You're not going to understand Clearwater's motivations because we are not privy to any undisclosed aspects of the transaction of which you can assume there are some..   On the other hand I think we can accurately assume that SC2 which is really a financial front for a key Sherritt supplier is 1/ concerned about the risk to their core business, and 2/ as an "on the ground

[rkhosla]

Do tell....  what are their motivations? Beside tax loss selling.  I mean having sold, they are now out of the game, no?

[rkhosla]

I mean it is possible they are putting their proceeds back into the bonds...

[Albatross]

Agreed 2025 should be interesting. Hopefully Sherritt bears fruit and market bends in our favour. An expansion to commission. 2 year runway. Will we take off and fly or sputter into the fields? Time will tell. 

[rkhosla]

One fear is that the agenda here is to take us private at a ridiculously low price.  

[Ernieandbert]

Small risk.  Not too sure about SC2 as all we know about them is they are a supplier to S but Ewing Morris is a fund manager so doubt they want to be a part of a private operating company although you never know.  I think it is more about being an activist, imploding Board and Managment and turning this ship around.  

[OMJB97]

Hey Scott - why do you think SC2 is a supplier? According to the early warning report it is a private investor very small shareholder pior to the transaction?

[Albatross]

You got to go back 1 years worth of comments to find the answer to that haha 

[Albatross]

  https://www.sherritt.com/English/Investor-Relations/News-Releases/News-Release-Details/2024/Sherritt-Corrects-Misleading-Information-Announced-by-SC2-Inc.-an-Affiliate-of-Seablinc-Canada-Inc.-a-Significant-Supplier-to-Sherritts-Moa-Joint-Venture/default.aspx SC2’s Interests are to Entrench its Affiliate Seablinc as a Key Supplier to Sherritt’s Moa Joint Venture at a Significant Cost to

[rkhosla]

Here we go again....  god forbid they say they look forward to at least sitting down w their new15% stakeholder to hear them out....

[rkhosla]

Sorry ignore - I thought this was new.... apologies tis from April....  ok so sherritt has yet to issue a response?

[Albatross]

Haha yeah I just reposted so ONJ could see how we new they were affiliated with the supplier Seablinc