logo
Sherritt Provides Notice of Second Quarter 2025 Results Conference Call

Sherritt Provides Notice of Second Quarter 2025 Results Conference Call

Globe and Mail08-07-2025
Sherritt International Corporation ('Sherritt' or the 'Corporation') (TSX:S) will release its second quarter 2025 results after market close on July 29, 2025. Senior management will host a conference call and webcast on July 30, 2025 at 10:00 am ET to review Sherritt's second quarter 2025 financial and operational performance.
Dial-in and Webcast Details:
Please dial in 15 minutes before the start of the conference to secure a line and avoid delays. Alternatively, listeners will be able to access the conference call via the webcast available on Sherritt's website.
A copy of the webcast and replay of the conference call will be available on the website following the presentation.
About Sherritt
Sherritt is a world leader in using hydrometallurgical processes to mine and refine nickel and cobalt – metals deemed critical for the energy transition. Sherritt's Moa Joint Venture has an estimated mine life of approximately 25 years and is advancing an expansion program focused on increasing annual MSP production by 20% of contained nickel and cobalt. The Corporation's Power division, through its ownership in Energas, is the largest independent energy producer in Cuba with installed electrical generating capacity of 506 MW, representing approximately 10% of the national electrical generating capacity in Cuba. The Energas facilities are comprised of two combined cycle plants that produce low-cost electricity from one of the lowest carbon emitting sources of power in Cuba. Sherritt's common shares are listed on the Toronto Stock Exchange under the symbol 'S'.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Lifezone Metals Consolidates Control of the World-Class Kabanga Nickel-Copper-Cobalt Sulfide Project
Lifezone Metals Consolidates Control of the World-Class Kabanga Nickel-Copper-Cobalt Sulfide Project

National Post

time4 days ago

  • National Post

Lifezone Metals Consolidates Control of the World-Class Kabanga Nickel-Copper-Cobalt Sulfide Project

Article content Acquires BHP's 17% Interest in Kabanga Nickel Ltd. via Deferred Consideration Article content NEW YORK — Lifezone Metals Limited's (NYSE: LZM) Founder and Chair, Keith Liddell, and Chief Executive Officer, Chris Showalter, today announced that Lifezone has completed a definitive agreement with BHP Billiton (UK) DDS Limited (BHP) to acquire BHP's 17% equity interest in Kabanga Nickel Limited (KNL), the majority owner of the Kabanga Nickel Project in northwestern Tanzania. Article content As a result of the transaction, Lifezone owns 100% of KNL, which in turn holds an 84% interest in Tembo Nickel Corporation Limited (TNCL), the Tanzanian operating company for the Kabanga Nickel Project. The remaining 16% of TNCL is held by the Government of Tanzania. All existing agreements with BHP, including the T2 Option Agreement, have been terminated. Lifezone has assumed full control of 100% of the offtake from the Kabanga Nickel Project. Article content Key terms of the transaction: Article content FID Payment: A fixed cash payment of $10 million, payable within 30 days after the earlier of: (i) 12 months after the Final Investment Decision (FID) at Kabanga; or (ii) once Lifezone has raised $250 million in aggregate funding (whether through equity, debt or alternative sources). First Commercial Production Payment: A second deferred cash payment, payable within 30 days after the period of 12 months following the achievement of first commercial production. The amount is indexed to Lifezone's share price performance, with a reference share price of $4.16 per share and a reference amount of $28 million. An index factor of 0.7x applies – meaning that a 10% increase in Lifezone's share price results in a $1.96 million increase in the payment ($28 million x 10% x 0.7). Based on an illustrative price of $4.50 per share, the payment would total $30 million. Total consideration cap: Maximum of $83 million, or reduced to $75 million if the Resettlement Action Plan (RAP) Trigger Event occurs (see below). Lock-Up and Right of First Offer: BHP has agreed not to sell its Lifezone shares for 12 months post-completion. After this period, BHP must first offer any shares it intends to sell to Lifezone before potentially transferring them to third parties, subject to customary terms. Article content Mr. Liddell stated: Article content 'This transaction to own 100% of Kabanga Nickel Limited allows Lifezone to fully align our technical, commercial, and ESG strategy as we advance Kabanga toward the Final Investment Decision. We are committed to delivering the project responsibly and to creation of long-term value for all our stakeholders.' Article content Mr. Showalter added: Article content 'This marks a significant milestone for Lifezone as we consolidate ownership of the Kabanga Nickel Project. BHP has been a supportive and value-adding partner whose investment has contributed to advancing the project, and their exit coincides with the project's transition into its next stage of development. Our focus remains on delivering a world-class, low-cost nickel project that benefits all stakeholders, including the Government of Tanzania and local communities.' Article content Ongoing strategic financing initiatives to advance to Final Investment Decision Article content Standard Chartered Bank – Short-term financing and strategic advisory Article content Lifezone has engaged Standard Chartered Bank as financial adviser to support the development of the Kabanga Nickel Project. A short-term development financing package is well advanced, to provide sufficient capital to undertake early works construction and Resettlement Action Plan activities and to progress through to Final Investment Decision, including proceeding to financial close of the multi-source project finance package. Article content Lifezone is also in active discussions with several major, diversified counterparties regarding long-term strategic partnerships. Article content Societe Generale – Project finance progress Article content As announced on September 23, 2024 (refer to Lifezone's news release), Societe Generale is advising Lifezone on the project financing process. This includes potential support from the U.S. International Finance Corporation (DFC) through loans and risk insurance (refer to Lifezone's August 27, 2024 news release). The project financing process, which commenced well ahead of the release of the Kabanga Feasibility Study, is progressing well and meaningful interest has been received from potential lenders, including export credit agencies. Article content These initiatives aim to deliver a capital structure aligned with Lifezone's growth ambitions and Kabanga's development timeline. While BHP's exit marks a transition, it also presents a unique opportunity to reshape the Kabanga ownership and financing strategy to suit Lifezone's aspiration of long-term value creation. Article content The RAP Trigger Event and ESG alignment Article content The RAP Trigger Event is defined as the independent verification that the project's Resettlement Action Plan has been developed and implemented in material alignment with the International Finance Corporation's Performance Standard 5 (IFC PS5). Article content If confirmed within 12 months of completion, the total consideration payable to BHP will be reduced to a maximum of $75 million. Article content | Article content X Article content | Article content YouTube Article content About Lifezone Metals Article content Lifezone Metals (NYSE: LZM) is committed to delivering cleaner and more responsible metals production and recycling. Through the application of our Hydromet Technology, we offer the potential for lower energy consumption, lower emissions and lower cost metals production compared to traditional smelting. Article content Our Kabanga Nickel Project in Tanzania is believed to be one of the world's largest and highest-grade undeveloped nickel sulfide deposits. By pairing it with our Hydromet Technology, we are working to unlock a new source of nickel, copper and cobalt for the global battery metals markets and to empower Tanzania to achieve in-country beneficiation. Article content Through our US-based recycling partnership, we are working towards applying our Hydromet Technology to the recovery of platinum, palladium and rhodium from responsibly sourced spent automotive catalytic converters. Our process is expected to be cleaner and more efficient than conventional smelting and refining methods, supporting a circular economy for precious metals. Article content Certain statements made herein are not historical facts but may be considered 'forward-looking statements' within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the 'safe harbor' provisions under the Private Securities Litigation Reform Act of 1995 regarding, amongst other things, the plans, strategies, intentions and prospects, both business and financial, of Lifezone Metals Limited and its subsidiaries. Article content Generally, statements that are not historical facts, including statements concerning possible or assumed future actions, business strategies, events or results of operations, and any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Forward-looking statements may be accompanied by words such as 'believes,' 'estimates,' 'expects,' 'predicts,' 'projects,' 'forecasts,' 'may,' 'might,' 'will,' 'could,' 'should,' 'would,' 'seeks,' 'plans,' 'scheduled,' 'possible,' 'continue,' 'potential,' 'anticipates' or 'intends' 'or the negatives of these terms or variations of them or similar terminology or expressions that predict or indicate future events or trends or that are not statements of historical matters; provided that the absence of these does not mean that a statement is not forward-looking. These forward-looking statements include, but are not limited to, statements regarding future events, the estimated or anticipated future results of Lifezone Metals, future opportunities for Lifezone Metals, including the efficacy of Lifezone Metals' hydrometallurgical technology (Hydromet Technology) and the development of, and processing of mineral resources at, the Kabanga Nickel Project, our approach to environmental stewardship, social responsibility, safety and governance (ESG), and other statements that are not historical facts. Article content These statements are based on the current expectations of Lifezone Metals' management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on, by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Lifezone Metals and its subsidiaries. These statements are subject to a number of risks and uncertainties regarding Lifezone Metals' business, and actual results may differ materially. These risks and uncertainties include, but are not limited to: general economic, political and business conditions, including but not limited to economic and operational disruptions; global inflation and cost increases for materials and services; capital and operating costs varying significantly from estimates; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; changes in government regulations, legislation and rates of taxation; inflation; changes in exchange rates and the availability of foreign exchange; fluctuations in commodity prices; delays in the development of projects and other factors; the outcome of any legal proceedings that may be instituted against Lifezone Metals; our ability to obtain additional capital, including use of the debt market, future capital requirements and sources and uses of cash; the risks related to the rollout of Lifezone Metals' business, the efficacy of the Hydromet Technology, and the timing of expected business milestones; the acquisition of, maintenance of and protection of intellectual property; Lifezone's ability to achieve projections and anticipate uncertainties (including economic or geopolitical uncertainties) relating to our business, operations and financial performance, including: expectations with respect to financial and business performance, future operating results, financial projections and business metrics and any underlying assumptions; expectations regarding product and technology development and pipeline and market size; events relating to environmental issues, social responsibility, safety and/or governance matters, expectations regarding product and technology development and pipeline; future acquisitions, partnerships, or other relationships with third parties; maintaining key strategic relationships with partners and customers; the timing and significance of contractual relationships; the effects of competition on Lifezone Metals' business; the ability of Lifezone Metals to execute its growth strategy, the development and processing of the mineral resources at the Kabanga Nickel Project; manage growth profitably and retain its key employees; the ability of Lifezone Metals to reach and maintain profitability; enhancing future operating and financial results; complying with laws and regulations applicable to Lifezone Metals' business; Lifezone Metals' ability to continue to comply with applicable listing standards of the NYSE; our ability to comply with applicable laws and regulations, stay abreast of accounting standards, or modified or new laws and regulations applying to our business, including privacy regulation; and other risks that will be detailed from time to time in filings with the U.S. Securities and Exchange Commission (SEC); meeting future liquidity requirements and complying with restrictive covenants related to long-term indebtedness; and dealing effectively with litigation, complaints, and/or adverse publicity. Article content The foregoing list of risk factors is not exhaustive. There may be additional risks that Lifezone Metals presently does not know or that Lifezone Metals currently believes are immaterial that could also cause actual results to differ from those contained in forward-looking statements. In addition, forward-looking statements provide Lifezone Metals' expectations, plans or forecasts of future events and views as of the date of this communication. Lifezone Metals anticipates that subsequent events and developments will cause Lifezone Metals' assessments to change. Article content These forward-looking statements should not be relied upon as representing Lifezone Metals' assessments as of any date subsequent to the date of this communication. You should not place undue reliance on forward-looking statements in this communication, which are based upon information available to us as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. In all cases where historical performance is presented, please note that past performance is not a credible indicator of future results. Article content Article content Article content Article content Article content Article content Contacts Article content Article content Evan Young Article content Article content Article content Article content

Fredericton opening 20-unit seniors housing complex this fall
Fredericton opening 20-unit seniors housing complex this fall

CTV News

time4 days ago

  • CTV News

Fredericton opening 20-unit seniors housing complex this fall

David Hickey is pictured speaking at a lectern in front of housing development. (Source: Province of New Brunswick) A new public housing development in Fredericton will expand access to affordable housing, said the New Brunswick government in a news release Thursday. The 20-unit seniors complex on Charles Avenue is almost finished and expected to welcome residents in the fall, said the release. The units are coming when finding an affordable place to live is very challenging, said David Hickey, the minister responsible for the New Brunswick Housing Corporation. 'For a long time, government had gotten out of the business of building new homes,' Hickey said. 'Now it's great to see some of these new public housing developments preparing to accept new tenants.' Work is underway on 127 additional units at 13 sites across New Brunswick. Hickey also recently announced 22 new living spaces would be opening in Miramichi as part of three new housing developments. There are more than 4,600 public housing units in New Brunswick including close to 800 rural and Indigenous units. The housing corporation has several housing programs for renters and property owners. For more New Brunswick news, visit our dedicated provincial page.

North Atlantic enters non-binding MOU with N.L. government to lease Bull Arm fabrication site
North Atlantic enters non-binding MOU with N.L. government to lease Bull Arm fabrication site

CBC

time4 days ago

  • CBC

North Atlantic enters non-binding MOU with N.L. government to lease Bull Arm fabrication site

Newfoundland and Labrador has found someone to lease and operate a massive fabrication site in Trinity Bay. North Atlantic was awarded the lease for Bull Arm, entering into a non-binding memorandum of understanding with the provincial government to develop a "green energy centre of excellence" at the site in collaboration with private and public partners to "support the energy transition." "Commercial items in the non-binding MOU protect the provincial government's interests as the owner of this major industrial site, while providing North Atlantic the flexibility it needs to successfully attract investment and business to the site and earn a return on its investment," reads a statement issued by the Department of Industry, Energy and Technology on Thursday morning. The property has a long history as the host for oil and gas megaprojects, originally developed for Hibernia and playing a role in the development for the Hebron project. North Atlantic will take on operational and maintenance costs while kicking back a share of profits to the province. "Our goal throughout this process has been to maximize the economic and employment benefit to the people of Newfoundland and Labrador, while also providing a viable long-term business opportunity for potential proponents of the Bull Arm site," said Industry Minister Steve Crocker in the statement. "North Atlantic's plan for this site and the MOU is consistent with this goal." The lease for the Bull Arm Site is currently held by Bull Arm Fabrication Inc., which operates the site on behalf of the provincial government.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store