The following is a summary of the Sherritt International Corporation (SHERF) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Sherritt International reported Q1 2024 consolidated revenue of $28.8 million, a drop compared to Q1 2023's $58.6 million due to lower prices in nickel, cobalt, and fertilizers.

• The company had an adjusted EBITDA of negative $6.5 million and their net loss from continuing operations was $40.9 million for Q1 2024.

• However, there was an increase in available liquidity in Canada, currently at nearly $68 billion, reversing the negative trend from H2 2023.

Business Progress:

• Despite higher cost expectations, Sherritt's Mining division successfully reduced mining, processing and refining costs year-over-year in Q1 2024.

• The new Slurry Preparation Plant was launched ahead of schedule and has been operating at design capacity from January 2024.

• Their Power division is performing robustly, with anticipation for higher production levels.

• Strategic moves are being made to strengthen power generation, including increasing gas supply in collaboration with Cuban partners.

• Progress has been noted in leveraging technical expertise to unlock the processing value chain for the North American EV sector, as a move to counter Chinese dominance in refining battery materials.

More details: SHERRITT INTL CORP IR

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