Best MicroCap, Small Cap and Emerging Stocks to Buy - J Charles Assets
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once upon a time sherritt was a $23.00 stock .............just like bbd.b ... lol
It doesn't appear either an improved cobalt or nickle market price is going to come in time to save Sherritt's Ambotvoy mining investment. Without some additional intervening financial extension from it's Ambatvoy partners to prevent a Sherritt forclosure on or after May 2nd, we can expect the Sherritt share price to continue to slide, right? And, can Sherritt survive an Ambatvoy forclosure?
Sherritt International (TSX:S) Market Cap: $249.80 million
Sherritt is a top 10 producer of finished cobalt, and its finished cobalt has a 99.9 percent purity – somewhat above the current London Metal Exchange specification of 99.3 percent. For Sherritt, cobalt is a byproduct of their nickel mining. Material is mined from two ventures – Moa (Cuba) and Ambatovy (Madagascar) – and then shipped to Sherritt’s Fort Saskatchewan facility in Canada for refining. Sherritt has a 50 percent stake in the Moa Joint Venture and a 40 percent stake in the Ambatovy project. The Moa Joint Venture is a vertically-integrated nickel and cobalt operation involving three companies: The Cobalt Refinery Company (CRC), International Cobalt Company (ICCI), and Moa Nickel SA. The Ambatovy mine and refinery, which has put Madagascar on the world’s metal map, began commercial production began in 2014. Ambatovy is still ramping up to a targeted annual production of 60,000 tonnes of refined nickel and 5,600 tonnes of refined cobalt. Sherritt reported that it had produced 1,952 metric tonnes of finished cobalt so far in 2016. The production amount is higher than originally estimated for the company.
I've been watching this one for awhile. I plan to acquire some shares possibly on the next dip.
Time to load up.
Finally someone in this bosrd
Sherritt is one of the world leading producers of cobalt. Cobalt is a key ingredient in lithium batteries used to power electric cars, among many other things. Several sources predict a coming cobalt squeeze because of rapidly increasing demand. Last time there was a cobalt squeeze, Sherritt's share price rose close to 400%. Sherritt's financial situation has improved lately because of debt restructuring. I think NOW might be a good time to get on board. Share price is historically quite low. Of course, due diligence is always appropriate.