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Sherritt International Corp (S.TO)

S.TO on Toronto Stock Exchange

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16 Jan 2018
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Latest Key Developments (Source: Significant Developments)

Sherritt Announces Dutch Auction To Purchase Up To $75 Mln Of Outstanding Debentures
4:31pm EST 

Jan 16 (Reuters) - Sherritt International Corp ::SHERRITT ANNOUNCES DUTCH AUCTION TO PURCHASE UP TO $75 MILLION OF OUTSTANDING DEBENTURES.SHERRITT INTERNATIONAL CORP - COMMENCEMENT OF AN OFFER TO PURCHASE FOR CASH ITS OUTSTANDING 8.0% SENIOR UNSECURED DEBENTURES DUE 2021, AMONG OTHERS.  Full Article

Sherritt Announces 2017 Production Results And Guidance For 2018
Friday, 12 Jan 2018 08:35am EST 

Jan 12 (Reuters) - Sherritt International Corp ::SHERRITT ANNOUNCES 2017 PRODUCTION RESULTS AND GUIDANCE FOR 2018.SHERRITT INTERNATIONAL CORP - NICKEL PRODUCTION AT MOA JV FOR 2018 IS FORECASTED AT BETWEEN 31,500 TONNES AND 32,500 TONNES ON A 100% BASIS.SHERRITT INTERNATIONAL CORP - COBALT PRODUCTION AT MOA JV FOR 2018 IS FORECASTED AT BETWEEN 3,500 AND 3,800 TONNES ON A 100 PCT BASIS.SHERRITT INTERNATIONAL - SEES 2018 TOTAL CAPITAL SPENDING $94 MILLION.SHERRITT INTERNATIONAL CORP - NET DIRECT CASH COSTS AT MOA JV ARE FORECASTED AT BETWEEN $2.50 AND $3.00 PER POUND OF FINISHED NICKEL.SHERRITT INTERNATIONAL - POWER UNIT FORECASTED TO PRODUCE BETWEEN 750 - 800 MEGAWATT HOURS OF ELECTRICITY IN 2018.  Full Article

Sherritt Provides Update On Impact Of Cyclone Ava On Its Ambatovy Operations
Tuesday, 9 Jan 2018 05:33pm EST 

Jan 9 (Reuters) - Sherritt International Corp ::SHERRITT PROVIDES UPDATE ON THE IMPACT OF TROPICAL CYCLONE AVA ON ITS AMBATOVY OPERATIONS.SHERRITT INTERNATIONAL - ‍PRELIMINARY REVIEW IDENTIFIED DAMAGE TO EQUIPMENT IS EXPECTED TO DELAY RESTART IN PRODUCTION UNTIL END OF JAN.SHERRITT INTERNATIONAL CORP - ALSO, DAMAGE INCURRED BY ACID PRODUCTION FACILITIES WILL NECESSITATE REPAIRS THAT WILL AFFECT PACE OF PRODUCTION RAMP UP.  Full Article

Sherritt Provides Update On Its Oil And Gas Operations
Friday, 22 Dec 2017 07:00am EST 

Dec 22 (Reuters) - Sherritt International Corp ::SHERRITT PROVIDES UPDATE ON ITS OIL AND GAS OPERATIONS.SHERRITT INTERNATIONAL CORP - HAS EXTENDED TIMETABLE FOR ITS CURRENT ACTIVITIES ON BLOCK 10 TO Q1 OF 2018.SHERRITT INTERNATIONAL - NEGOTIATIONS ARE IN PROGRESS WITH CUBAPETROLEO S.A. TO EXTEND PRODUCTION SHARING CONTRACT FOR PUERTO ESCONDIDO & YUMURI PSC.  Full Article

Sherritt International reports fatality at power generation operations
Friday, 10 Nov 2017 12:01pm EST 

Nov 10 (Reuters) - Sherritt International Corp ::Sherritt reports fatality at its power generation operations.Sherritt has initiated an investigation and is working with local authorities to determine cause of accident​.Announces death of an employee at Energas SA power generation operations in Cuba due to apparent electrocution​.  Full Article

Sherritt and Partners sign definitive agreement to restructure Ambatovy joint venture
Friday, 10 Nov 2017 07:00am EST 

Nov 10 (Reuters) - Sherritt International Corp :Sherritt and Partners sign definitive agreement to restructure Ambatovy joint venture.Sherritt International Corp - Will eliminate $1.3 billion (at September 30, 2017) in Ambatovy JV additional partner loans from its balance sheet​.Sherritt International - ‍Sherritt will eliminate $1.3 billion (at Sept 30, 2017) in Ambatovy joint venture additional partner loans from balance sheet​.Sherritt International - Co's outstanding partner loans of $101 million due 2023 (at September 30, 2017) will continue to be secured by co's 12% interest​.Sherritt International- ‍Agreement to restructure its Ambatovy JV will result in transfer by Sherritt of 28% interest in JV.Sherritt International Corp - ‍Sherritt will regain voting rights and certain other rights that were suspended when it ceased funding as part of deal​.Sherritt International - ‍Agreement to restructure its Ambatovy JV will also eliminate related debt from Sherritt's balance sheet.Sherritt International - Co to cover deal, closing costs, including financial, legal advisory fees, applicable taxes & corporate restructuring costs​.Sherritt International - Expects to make additional payment of about $13 million to cover potential future funding requirements of Ambatovy joint venture​.Sherritt International Corp - ‍As part of deal, Sherritt will resume funding for its 12% interest retroactively to end of 2015​.  Full Article

Sherritt Q3 loss per share C$0.24
Tuesday, 24 Oct 2017 05:05pm EDT 

Oct 24 (Reuters) - Sherritt International Corp :Sherritt reports Q3 2017 results.Q3 loss per share C$0.24.Q3 earnings per share view C$-0.16 - Thomson Reuters I/B/E/S.Q3 adjusted loss per share $0.29 from continuing operations.Sherritt international corp qtrly ‍revenue $63.3 million versus $58.5​ million.  Full Article

Sherritt International reports qtrly loss from cont ops of $0.41 per share
Tuesday, 25 Oct 2016 07:00am EDT 

Sherritt International Corp - :Qtrly loss per share from continuing operations $0.41, revenue $58.5 million versus $76.9 million.  Full Article

Sherritt provides update on Moa joint venture operations following hurricane Matthew
Wednesday, 12 Oct 2016 07:30am EDT 

Sherritt International Corp : Sherritt provides an update on the Moa joint venture operations following hurricane Matthew . Sherritt International - Moa joint venture mine and high pressure acid leach operations in Eastern Cuba have resumed operations with minimal damage . Sherritt International - gradual shutdown measures were implemented ahead of hurricane and operations have subsequently resumed in a staged process . Production was impacted by shutdown and by delayed shipments when carriers were unable to dock safely at Moa port . Sherritt says current full year guidance range of 33,500 - 34,500 tonnes finished nickel is expected to remain intact ."we have no reported fatalities or injuries on or off-site".  Full Article

Sherritt provides update on Ambatovy JV financing and funding
Wednesday, 15 Jun 2016 01:29pm EDT 

Sherritt International Corp : Sherritt provides update on Ambatovy joint venture financing and funding . Ambatovy JV financing lenders, Ambatovy entered into temporary deferral agreement to defer June 15 principal repayment due date to August 5 . An agreement in principle has been reached on future principal payment deferrals . An interest payment of US$28 million (100% basis) to the lenders was made on June 15 .Continues not to fund cash calls, while Sumitomo Corp and Korea Resources provided necessary funding for interest payment and ongoing operations.  Full Article

BRIEF-Sherritt Announces Dutch Auction To Purchase Up To $75 Mln Of Outstanding Debentures

* SHERRITT ANNOUNCES DUTCH AUCTION TO PURCHASE UP TO $75 MILLION OF OUTSTANDING DEBENTURES