Noranda Income Fund Unit NNDIF

What a real independent board does

[ZincDink]

https://www.paidpromotionalmessages.com/companies/news/69243/xstrata-pulls-out-of-possible-acquisition-of-noranda-income-fund-8099.html

So back in 2009, the inedpendent board rejected the 3.9 offer as too low. Back then, they had 200 M$ of real debt (and the plant had an asset value of 300 M$, not like the false accounting the current board allows).

Now we have a plant with significant upgrades in better financial shape with huge improvement of TC and somehow GC thinks its generous to offer us less than half the valuation on the old, lower nameplate throughput, plant.

A real board would have laughed at the offer and not even considered it. Now we have a "independent" board condoining shennigans like this.

I certainly hope this bid fails, but have my doubts and can't understand why the courts are allowing a hostile takeover of minority shareholders with such a low ball share count. Court approved criminal action.

Well, we are getting 10 cents on the dollar, Trifigura paid only 5 cents on the dollar for the European mills (currently sitting idle, lol).