Sherritt International Corp
TSX:S
If you don’t study any companies, you have the same success buying stocks as you do in a poker game if you bet without looking at your cards.
Utilize notes to systematically review your investment decisions. By reflecting on past outcomes, you can discern effective strategies and identify those that underperformed. This continuous feedback loop enables you to adapt and refine your approach, optimizing for future success.
Each note serves as a learning point, offering insights into your decision-making processes. Over time, you'll accumulate a personalized database of knowledge, enhancing your ability to make informed decisions quickly and effectively.
With a comprehensive record of your investment history at your fingertips, you can compare current opportunities against past experiences. This not only bolsters your confidence but also ensures that each decision is grounded in a well-documented rationale.
Do you really want to delete this note?
This action cannot be undone.
This alert will be permanently deleted.
Sherritt International Corp
Sherritt International Corp. is engaged in the production and provision of nickel and cobalt from lateritic ores. The company is headquartered in Toronto, Ontario. The firm is engaged in the production of high purity nickel and cobalt metal from lateritic ore. The firm offers a range of products include product categories include Nickel, Cobalt, Fertilizers and Other Products. The Nickel products category include standard grade, steel grade, and nickel powders. The Cobalt products category include cobalt briquettes and cobalt powders. The Fertilizers product category include anhydrous ammonia, granular ammonium sulphate, crystalline ammonium sulphate-supersalt, and crystalline ammonium sulphate-standard grade. Other products category includes sulphuric acid, zinc sulfide, and copper sulfide.
Sherritt International Corp. is engaged in the production and provision of nickel and cobalt from lateritic ores. The company is headquartered in Toronto, Ontario. The firm is engaged in the production of high purity nickel and cobalt metal from lateritic ore. The firm offers a range of products include product categories include Nickel, Cobalt, Fertilizers and Other Products. The Nickel products category include standard grade, steel grade, and nickel powders. The Cobalt products category include cobalt briquettes and cobalt powders. The Fertilizers product category include anhydrous ammonia, granular ammonium sulphate, crystalline ammonium sulphate-supersalt, and crystalline ammonium sulphate-standard grade. Other products category includes sulphuric acid, zinc sulfide, and copper sulfide.
Cobalt Swap Windfall: Sherritt received almost $100 million from its Cobalt Swap agreement in Q2, boosting liquidity and providing confidence for the next four years of the agreement.
Lower Commodity Prices: Sharp declines in cobalt (down 63%) and fertilizer prices (down 35%) significantly hurt profitability and raised net direct cash costs.
Production Update: Nickel and cobalt production fell 12% and 16% year-over-year, respectively, due to operational challenges, though sales volumes were higher.
Revised Guidance: 2023 net direct cash cost guidance was increased to $6.75–$7.25 per pound (from $5–$5.50), reflecting weaker byproduct credits and higher costs.
Power Division Bright Spot: New gas wells enabled Sherritt to increase 2023 power production guidance and lower cost guidance for that segment.
Balance Sheet Strength: Liquidity rose to $125 million, up from $82 million last quarter, aided by Cobalt Swap proceeds.
Safety Incident: Two fatalities occurred at Moa in Q2, prompting a renewed focus on safety procedures and culture.
