Sherritt announced today that it has published and is in the process of mailing a letter to shareholders. The letter contains important information regarding positive momentum at Sherritt and the Board's multiple attempts to reach a settlement. It also discusses how at no time did Sherritt commit to put Mr. Armoyan on its Board, and that a third [...]
Sherritt International Corporation First-Quarter 2014 Results Release: April 30, 2014, before markets open. Conference Call and Webcast: April 30, 2014, 2:00 p.m. ET. Conference Call and Webcast Speakers: David Pathe, President and CEO. Dean Chambers, EVP and CFO. An archive of the webcast will also be available on the website. The conference call [...]
Sherritt International provided the following in response to yesterday's press release by dissident shareholder George Armoyan and his continuing attempts to confuse and mislead shareholders in regards to the shareholder meeting requisition and dissident nomination process. "Mr. Armoyan appears to be making every effort to confuse the issues," said [...]
Sherritt provided the following in response to today's disclosure by dissident shareholder George Armoyan. "Sherritt has positive momentum on the basis of a disciplined plan to pay down debt, cut costs and focus on areas of core expertise, with improved operating performance and an improved production and commodity outlook," said Harold Stephen [...]
Sherritt International Corporation announced today that it has filed a letter to shareholders and its proxy circular. "Sherritt is gaining momentum with a disciplined strategy to pay down debt, cut costs and focus on our core areas of expertise," said Harold (Hap) Stephen, Chairman, Sherritt. "Now, a dissident shareholder with no experience in [...]
Sherritt International Corporation has filed its Annual Information Form for the year ended December 31, 2013. Copies of the Annual Information Form and related filings may be obtained on SEDAR at sedar.com or at sherritt.com.
Sherritt today reported an annual adjusted loss of $60.0 million compared to adjusted earnings of $103.1 million in 2012. On December 24, 2013, Sherritt announced the sale of its Coal business for estimated proceeds of $946 million. As a result of this transaction, the Coal business has been reclassified as a discontinued operation, the net assets [...]
Sherritt is a world leader in the mining and refining of nickel from lateritic ores with projects and operations in Canada, Cuba, Indonesia and Madagascar. The Corporation is the largest thermal coal producer in Canada and is the largest independent energy producer in Cuba, with extensive oil and power operations on the island. Sherritt licenses [...]
Sherritt today announced that commercial production has been achieved at the Ambatovy nickel operations in Madagascar. "Bringing Ambatovy to commercial status is a key milestone in its development as a long-life, low-cost producer of finished nickel and finished cobalt," said David Pathe, President and CEO of Sherritt. "I want to thank all of the [...]
Sherritt announced today that it has selected May 6, 2014 as the date for Sherritt's annual and special meeting of shareholders. The record date for determining shareholders entitled to vote at the meeting has been set as March 18, 2014. Sherritt will provide further information about the meeting in a management information circular that will be [...]
The Board of Directors of Sherritt announced today that it has received a requisition pursuant to section 105 of Business Corporations Act. The requisition requests a special meeting of Sherritt's shareholders be called to consider removing from office certain of the independent directors of Sherritt currently in place, and electing nominees [...]
Sherritt today announced it is divesting its coal business for total consideration of $946 million. A group led by Altius Minerals Corp., will acquire Sherritt's entire royalty portfolio and its interest in coal development assets for cash consideration of $481 million, subject to closing adjustments. Westmoreland Coal Company ("Westmoreland") will [...]