Sherritt Filings Delayed After Auditor and CFO Resign

Sherritt International expects a delay in its first-quarter financial filings and a potential trading halt in Canada following the exit of its auditor and finance chief. The departures follow a May 1 United States executive order expanding sanctions on Sherritt's Moa Nickel joint venture in Cuba.

Deloitte resigned as Sherritt's auditor on May 12, though the miner stated the move did not involve disagreements over accounting principles or audit procedures. Sherritt has started searching for a replacement. Previous reports from Deloitte did not contain adverse opinions or disclaimers.