Related Links

Guidance

2018 PRODUCTION FORECASTS

Production volumes 2018
Guidance
Year-to-date actual at
June 30, 2018
Updated Guidance at
June 30, 2018
Moa Joint Venture (tonnes, 100% basis)      
Nickel, finished 31,500 - 32,500 13,206 Unchanged
Cobalt, finished 3,500 - 3,800 1,448 Unchanged
Ambatovy Joint Venture (tonnes, 100% basis)      
Nickel, finished 40,000 - 43,000 15,125 35,000 - 38,000
Cobalt, finished 3,500 - 3,800(1) 1,233 3,100 - 3,400
Oil – Cuba (gross working-interest, bopd) 4,300 - 4,800 5,128 Unchanged
Oil and Gas – All operations (net working-interest, boepd) 2,300 - 2,600(1) 2,862 Unchanged
Electricity (GWh, 33⅓% basis) 750 - 800 406 Unchanged

2018 UNIT COST FORECASTS

Unit operating costs 2018
Guidance
Year-to-date actual at
June 30, 2018
 Updated Guidance at
June 30, 2018
NDCC (US$ per pound)      
Moa Joint Venture $1.75 - $2.25(1) $1.84 Unchanged
Ambatovy Joint Venture $2.50 - $3.00(1) $3.85 $3.00 - $3.50
Oil and Gas - Cuba (unit operating costs, $ per barrel) $22.00 - $23.50 $19.63 Unchanged
Electricity (unit operating cost, $ per MWh) $20.75 - $21.50 $17.90 Unchanged

2018 SPENDING COST FORECASTS

Spending on capital (US$ millions) 2018
Guidance
Year-to-date actual at
June 30, 2018
 Updated Guidance at
June 30, 2018
Moa Joint Venture (50% basis), Fort Site (100% basis)(2) US$41 (CDN$52) US$13.8 (CDN$17.6) Unchanged
Ambatovy Joint Venture (12% basis)(3) US$13 (CDN$17) US$4.4 (CDN$5.6) Unchanged
Oil and Gas US$39 (CDN$50) US$7.5 (CDN$9.5)  US$25 (CDN$32)
Power (33⅓% basis) US$1 (CDN$1) US$0.2 (CDN$0.3) Unchanged
Spending on capital (excluding Corporate) US$94 (CDN$119) US$25.2 (CDN$32.1) US$80 (CDN$102)

1Guidance updated March 31, 2018

2Spending is 50% of US$ expenditures for Moa JV and 100% expenditures for Fort Site fertilizer and utilities

3Sherrit's ownership interest at the Ambatovy Join Venture was reduced to 12% following a restructuring completed on December 10, 2017.

TSX: S 0.83 +0.01 +1.22% Volume: 1,487,439 ~20 MIN. DELAY September 21, 2018

Contact info:

Joe Racanelli,
Director,
Investor Relations.

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