Noranda Income Fund Unit T.NIF.UN

Primary Symbol: NNDIF

Metals & Mining Industrial Metals & Minerals

Noranda Income Fund is a Canadian based income trust. The fund owns the electrolytic zinc processing facility and ancillary assets located in Salaberry-de-Valleyfield, Quebec. It produces refined zinc metal and by-products from sourced zinc concentrates. The fund's long-term objective is to maximize unitholder value and provide monthly distributions to unitholders.

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Noranda Income Fund Unit > To Fix or Not to Fix

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Comment by ljp0101on Oct 20, 2022 3:32pm

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Post# 35037248

RE:RE:To Fix or Not to Fix

What a mess. There's zero chance CEZ shuts down. Questions are how the capex gets fund and how badly operations perform over the next two years. Think bankruptcy is unlikely given it could cause the SPA to get cancelled. Guessing they do some sort of highly dilutive financing where Glencore teams up with a politically linked entitity like Caisse de Depot. Given where the price is today, they could justify taking 80% of NIF for this (not agreeing with the valuation but Glencore will take what it can). Does anyone know if the trust prevents new unit issuance and what preemptive rights unitholders might have like having to approve unit issuance beyond a certain level or antidilution rights?

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Advancing an underexplored area of the Yukon with the same geology as B.C’.s Golden Triangle