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Sherritt International Corporation (T:S)

Business Focus: Nickel Ore Mining

Sector:  Basic Materials Industry:  Specialty Mining & Metals
See Regulatory Filings on SEDAR
Company Contact
Address: 22 Adelaide St W Suite 4220
Tel: 1-416-9352451
IR: See website
Key People
David V. Pathe
Chairman of the Board, President, Chief Executive Officer
Andrew Snowden
Chief Financial Officer, Senior Vice President
Stephen James Wood
Chief Operating Officer, Executive Vice President
Edward Arnold Sellers
Senior Vice President, General Counsel, Corporate Secretary
Karen Trenton
Senior Vice President - Human Resources
Timothy Dobson
Senior Vice President - Metals
Elvin Saruk
Senior Vice President - Oil & Gas and Power
Business Overview
Sherritt International Corporation is engaged in the mining and refining of nickel and cobalt from lateritic ores with projects and operations in Canada, Cuba and Madagascar. The Company's segments include Metals, Oil and Gas, Power, and Corporate and Other. The Metals segment includes mining, processing and refining nickel and cobalt from lateritic ore bodies, through the partnership with General Nickel Company S.A. of Cuba (the Moa Joint Venture); an interest in the Ambatovy Joint Venture that owns a nickel operation in Madagascar. It has fertilizer, sulfuric acid, utilities and storage facilities in Fort Saskatchewan, Canada. The Oil and Gas segment includes the oil and gas operations in Cuba, as well as the exploration and development of oil and gas in Cuba, Spain and Pakistan. Its Power segment includes power generating assets, located in Cuba at Varadero, Boca de Jaruco and Puerto Escondido. The Corporate and Other segment consists of the metallurgical technology business.
Financial Overview
For the nine months ended 30 September 2019, Sherritt International Corp revenues decreased 8% to C$106.2M. Net loss increased from C$11.1M to C$182.2M. Revenues reflect Metals segment decrease of 25% to C$346.1M, Oil and Gas segment decrease of 36% to C$23.4M, Oil Equivalent Prod. (Units/day), Total decrease of 38% to 1K barrels per day. Higher net loss reflects Metals segment income decrease of 95% to C$2.8M.
Employees: 6,963 as of Dec 31, 2018
Reporting Currency: Canadian Dollars
Enterprise value: $576.17M as of Sep 30, 2019
Annual revenue (TTM): $143.30M as of Sep 30, 2019
EBITDA (TTM): -$9.50M as of Sep 30, 2019
Net annual income (TTM): -$251.30M as of Sep 30, 2019
Free cash flow (TTM): -$34.80M as of Sep 30, 2019
Net Debt Last Fiscal Year: $540.30M as of Sep 30, 2019
Shares outstanding: 397,282,785 as of Sep 30, 2019
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization