OTCPK:NNDIF - Post by User
Post by
indoubtgetouton Aug 22, 2021 11:38am
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Post# 33746091
Objective is to Pay Cash Distributions
Objective is to Pay Cash DistributionsNIF.UN has not paid distributions for years. The interium CEO, Paul Einarson needs to revist their corporate objective with their "so called board of directors". This is not a real corporation, this is a company that Glencore should privatize as it is being run for the sole interest of Glencore and not for non-Glencore shareholders. It is a shame that Canadians are being treated this way by Glencore - Swiss based company that really does not give two hoots about Canada. It is a crying shame.
This is their current corporate mandate:
"The primary objective of the Fund is to provide stable, monthly cash distributions to its unitholders. Canadian Electrolytic Zinc Limited (the "Manager"), a wholly-owned subsidiary of Glencore Canada, aims to achieve the Fund’s objectives by maximizing production, increasing by-products and recoveries and continuing to develop premium products, as well as continuing to minimize unit costs."
They have not paid distributions for years. Furthermore, NIF.UN is down from $13 fifteen years ago to now 90 cents!!! What crying shame!! Maybe Paul and board should change the corporate objective to" The primary objective of the Fund is to never pay distributions or operate NIF.UN in the best interests of non-Glencore shareholders. It seeks to such as munch value out of NIF.UN for Glencore and anyone who invested in NIF.UN is a FOOL!"