SIGNIFICANT OPERATIONAL AND FINANCIAL ACHIEVEMENTS IN 2014 2014 OPERATIONAL AND FINANCIAL HIGHLIGHTS FULL YEAR OPERATIONAL RESULTS Record nickel production increased by 17% (1) Ambatovy nickel mine achieved guidance, successful…
AMBATOVY: CONTINUED PRODUCTION INCREASES WILL LEAD TO CASH FLOW Ambatovy Finished Nickel Production (tonnes) Q4 HIGHLIGHTS (1): +47% Record PAL throughput of 74% vs 66% in Q3 14,821 Nickel production increased 47% in the fourth…
SECOND ORE THICKENER TO CONTRIBUTE TO HIGHER THROUGHPUT Commissioning commenced during Q4 6
AMBATOVY LOW COST NICKEL PRODUCTION Targeted C1 Costs (US/lb) 12 At 2015 guidance levels of 47,000- 10 52,000 tonnes annually, Ambatovys cash costs are expected to be 4 - 6 8 6 - 8 per pound of nickel 6 Attractive cash flow…
MOA: CONSISTENT AND PROFITABLE Q4 HIGHLIGHTS: Consistent finished nickel production Cash costs were lower than a year ago due to lower mining and processing costs and higher by-product credits Strong contributor to overall Adjusted…
NICKEL FORECASTED TO ENTER INTO SUPPLY/DEMAND DEFICIT POSITION IN 2015 NICKEL MARKET SYNOPSIS World Supply/Demand 2014-2019 Nickel prices were under pressure 2,400 as LME inventories increased, fueled by strong supply and 2,300…
OIL AND GAS: EXTENDING PRODUCTION PROFILE Q4 HIGHLIGHTS: Signed two new Production-Sharing Contracts (PSCs) with 25 year terms Awaiting approval for two additional exploration PSCs Production decreased 5% to 18,701 bopd, due to the…
POWER: INCREASED EBITDA CONTRIBUTION Q4 HIGHLIGHTS: Electricity generation increased 47% in Q4 and 44% for the year due to successful start-up of Boca de Jaruco Combined Cycle Project Increasingly strong contribution to Adjusted…
Dean Chambers, EVP & CFO
STRENGTHENING OUR FINANCIAL POSITION 2014 Financial Results Summary (1)(2) from Continuing Operations Adjusted Operating Cash Adjusted Earnings (Loss) from Combined Revenue Adjusted EBITDA Flow/Share Continuing Operations/Share…
CHANGE IN NET LOSS FROM CONTINUING OPERATIONS BETWEEN Q4 2014 AND Q3 2014 50 (51.3) (147.7) (80.0) 0 (21.4) -50 +11.1 (15.6) (6.3) +67.7 (33.6) millions -100 (15.9) (8.5) (12.8) +6.6 -150 -200 Q3 net…
David Pathe, President and CEO
2014 ACCOMPLISHMENTS FOCUSING ON OUR CORE NICKEL BUSINESS BUILDING BALANCE SHEET STRENGTH Completed the sale of the Coal Reduced debt by 790M business Established normal course issuer bid CONTINUING TO RAMP-UP AT AMBATOVY…
2015 OUTLOOK Production Outlook Finished nickel production +18% (1) Forecast significant increase at Ambatovy Oil and Gas GWI production to increase +3% Power generation forecasted to remain level 2014 Actual Projected 2015…
2015 OUTLOOK Capital Expenditures Metals capital increase of 39 million Sustaining capital increase of 17 million for mining equipment at Moa and Fort Saskatchewan refinery maintenance Growth capital of 20 million towards third acid…
2015 OBJECTIVES: EXECUTING AGAINST OUR STRATEGIC PRIORITIES FOCUSING ON OUR CORE NICKEL BUSINESS Sustaining production and lowering costs at Moa Successful progression of the acid plant project at Moa CONTINUING TO RAMP-UP AT…
Questions and Answers
Sherritt International Corporation 1133 Yonge Street, Toronto, Ontario, Canada M4T 2Y7 Media & Investor Relations Sean McCaughan Telephone: 416.935.2451 Toll-Free: 1.800.704.6698 Email: investorsherritt.com Website: www.sherritt.com 21
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