Guidance


Actual Projected

2015 2016
Production volumes and spending on capital December 31 December 31
Production volumes

Mixed sulphides (tonnes, Ni+Co contained, 100% basis)

Moa Joint Venture 37,000
Ambatovy Joint Venture 48,995
Total 86,015
Nickel, finished (tonnes, 100% basis)

Moa Joint Venture 33,706 33,500-34,500
Ambatovy Joint Venture 47,271 48,000-50,000
Total 80,977 81,500-84,500
Cobalt, finished (tonnes, 100% basis)

Moa Joint Venture 3,734 3,300-3,800
Ambatovy Joint Venture 3,464 3,300-3,800
Total 7,198 6,600-7,600
Oil – Cuba (gross working-interest, bopd) 18,257 14,500
Oil & Gas – All operations (net working-interest, bopd) 11,158 8,900
Electricity (GWh, 33 1/3% basis) 902 860
Spending on capital ($ millions)

Metals – Moa Joint Venture (50% basis), Fort Site (100% basis) 64 US$38 (52)
Metals – Ambatovy Joint Venture (40% basis) 24 US$25 (34)
Oil & Gas 55 US$43 (59)
Power (33 1/3% basis) 4 US$1 (1)
Power (33 1/3% basis) Pipeline Construction on Service Concession Arrangements
US$4 (5)
Spending on capital (excluding Corporate) 147 US$111 (151)
TSX: S.TO 1.22 +0.04 +3.39% Volume: 800,722 ~20 MIN. DELAY February 21, 2017

Contact info:

Flora Wood,
Director,
Investor Relations.

Telephone: 1 416 935 2451
Email: investor@sherritt.com