Sherritt International Corporation has released its Q1 2025 financial results, highlighting notable developments in their operations and market conditions. The company reported nickel and cobalt production figures of 2,947 tonnes and 323 tonnes, respectively, while sales for the same metals reached 3,439 tonnes and 456 tonnes. The Net Direct Cash Cost (NDCC) decreased by 18% year-over-year, attributed to higher net fertilizer and other by-product credits, alongside reduced third-party feed costs. In terms of market dynamics, the global oversupply of nickel and cobalt continues to influence challenging market conditions and price forecasts in the near to medium term. Additionally, cobalt export restrictions implemented by the Democratic Republic of Congo (DRC) are expected to introduce volatility in the market. Sherritt's electricity production was lower due to frequency control at Varadero; however, the company is being fully compensated for this reduction and has also completed a new gas well in 2024 to provide additional gas supply. The company's liquidity in Canada stands at $55.7 million, supported by strong Fort Site operating cash flow, proceeds from Cobalt Swap sales, and Power dividends. Furthermore, a debt restructuring in April significantly improved Sherritt's capital structure and extended debt maturities to late 2031. The guidance for 2025 regarding metals and power remains unchanged.