Sherritt International Corp (STU:HRT)

Q3 2025 Sherritt International Corp Earnings Call Transcript

Nov 6, 2025 / 03:00 PM GMT

Release Date Price: €0.073 (-2.93%)

Transcript

Key Points

Positve

Sherritt International Corp (SHERF) successfully completed phase 2 of the MOA JV expansion, with the 6th leech train commissioned and in ramp-up.
The expansion program was delivered on budget, positioning the company to benefit from a recovery in nickel prices.
The power division achieved stable electricity production and increased dividends, supported by new wells.
Cost reduction initiatives are expected to deliver approximately $20 million in annual savings, in addition to $17 million saved last year.
Cobalt prices have surged due to the DRC's export ban, with expectations of a tightly balanced market over the next two years.

Negative

The challenging operating environment in Cuba negatively impacted near-term operations and production levels.
Nickel prices remain at multi-year lows, affecting revenue and financial performance.
Production of mixed sulfides was lower than expected due to unplanned maintenance and challenging conditions.
The company revised its full-year 2025 production guidance for finished nickel and cobalt downwards.
Liquidity remains a concern, with no expected distributions under the cobalt swap agreement in Q4 due to current nickel prices.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

S.TO - Sherritt International Corp
Q3 2025 Sherritt International Corp Earnings Call
Nov 06, 2025 / 03:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning ladies and gentlemen.

Thank you for standing by. Welcome to the Charrot International Corporation Q3 2025 earnings conference call and webcast. At this time, all participants are in listen-only mode. I would like to remind everyone that this conference call is being recorded today, Thursday, November 6, 2025 at 10:00 a.m. Eastern time.

I will now turn the presentation over to Tom Halton, director of Investor relations. Please go ahead.

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Unidentified_2 [2]
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Thank you, operator, and welcome everyone to share it's

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