Noranda Income Fund Unit T.NIF.UN

RE:RE:RE:Nyrstar not looking good

[ZincDink1]

So you are of the opinion that Trafigura did not entice Nyrstar to spend on capex, rather, they bought after the problems from an expansion effort.

Good to know. Just trying to look at Nyrstar on investing.com, and the site keeps going down.

I must be getting paraanoid, but was wondering if it was a large shareholder getting a company to do large capex investments without dividends being distributed. You know they type - they get the company to spend 20 M$ so the company can process feed the large investor is willing to sell them. Then the large investor, who's CFO happens to work at the company then begins aggressively writing down the processing plant, based on worries that the large investor may not provide concentrate to process after all.

I do worry that the large investor may saddle us with debt by overbuilding. Sure we have "independent" directors, but I am starting to find that some boards operate as a local social club, just waiting to congratulate the CEO on excellent ideas - can't find the rubber stamp fast enough.

I think we should have a statement in the next AGM that the company can not invest in expansion without approval of 51 % of the shareholders.

How many votes do we need to get this on the agenda?