Noranda Income Fund Unit T.NIF.UN

RE:How to paint a bleak picture this time

[Bigbird9999]

It is possible that we might be pleasantly surprised by the Q2 results  At the very least I would expect a small EPS.  My reasoning is::

1. 2 months of Q2 are at the New TC.  Of course we don't know what it is but I believe it could be higher than last year. 
2. Also they will have revenue from tolling the cathode they sold to Glencore during the strike.  Of course we don't know the tolling fee but it is revenue that they don't have normally. 
3. Also the complete quarter is at full production rate under the new CBA. 
4. The falling Zn price should have little effect because the 60 -80,000 tonnes of inventory is all hedged (they call it an inventory management program) in order to protect against the massive losses that would be incurred when there is a drop in Zn price in the time between the purchase of the concentrate and the sale of finished metal.  

If I am correct, we will probably see a SP bump on Tuesday.  I definitely do not see a further impairment charge but we all know the creative accounting praactices that have been applied in the past.  So like always the Sp will either go up or down or stay the same....
GLTA
BB