Noranda Income Fund Unit T.NIF.UN

RE:RE:Prairie Creek isn't even in production

[Bigbird9999]

Which is why we need to see the terms that have been agreed to.  All we know is that Glencore will supply all of the concentrate to NIF at some unknown TC and purchase all of the metal, copper residue and sulphuric acid from NIF at some unknown price.  On the surface it looks like we have to take Glencore's word that the TC and sale prices of the products are "fair".

Under the current SPA NIF recieved a known TC (41 cents CAD per lb of Zn) and the total metal premium of 10 to 13 cents CAD per lb.  They also reported quarterly the average netback on acid and copper residue.  Metal premiums (the price in excess of LME) for 2016 totalled about $60 million.  Where will this show up in the new agreement? 

I believe that they must disclose these details to us as they are material to our decisisions.  I don't see how they can simply say "we got the best deal we could" without giving us details........However, I don't know how we force them to disclose this information.

BB