Noranda Income Fund Unit T.NIF.UN

Re: SPA

[Scotch12]

I like Big Bird as much as everyone else, with the possible exception of you Westcoast who seem to be constantly auditioning for the role of his personal lap dog.  BB analysis and background knowledge has been very helpful.

I am long this stock and plan to continue to be because I think eventually the value of the plant (cheap electricity, location etc)  will be reflected in the market. However, I agree with Armcorp that it is unlikely the new SPA will be as good as the current one.  The TD analyst and more importantly the market is clearly telling us this or the stock would be going up.  The problem right now is there is a shortage of Zinc being mined and therefore smelters are scrambling for supply putting the miners in the driver seat. Noranda's CEO said as much in the CC though he added eventually the smelters should benefit from the high zinc price. I would be interested in your comment BB why the market is so at odds with your financial model and analysis.