Capital spending of $8.2 million in the fourth quarter and $25.9 million for the full year are both lower than expected based on 2016 published guidance due to lower equipment expenditures. Drilling and testing of the first well in Block 10 is now scheduled to be completed in the first quarter of 2017, with results to be disclosed shortly thereafter. A second well is planned to be drilled and tested in the second half of 2017. Test results from these two wells will determine whether or not Sherritt will proceed with commercialization of Block 10.
MAY Price at posting:
2.2¢ Sentiment: Buy Disclosure: Held
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