Sherritt International's (TSX: S, Stock Forum) 40% ownership of the Ambatovy nickel operation located in Madagascar really paid off today when the company announced operational results for January 2015.
According to the news release, record finished nickel and cobalt production, and record ore throughput were reached in January totaling 1,877 tonnes finished nickel and 140 tonnes finished cobalt on a 40% ownership basis.
The operation as a whole totaled 4,692 tonnes or approximately 92% of nameplate capacity and ore throughput in the PAL circuit was a record 513,363 tonnes or approximately 103% of nameplate capacity.
Planned maintenance of four of the five PAL autoclaves was completed in 2014 with the fifth scheduled to be maintained in February.
The company remains focused on hitting its key milestone of 54,000 tonnes of nickel on an annualized basis or approximately 90% of nameplate capacity.
Sherritt International was in the news recently when the Toronto-based company provided notice of its release of Q4 2014 results back in the middle of January.
Shares gained 6.48% on the news to $2.30 per share.
Currently there are 293.6m outstanding shares with a market cap of $675.2 million.