RE: Interesting blue printHello Stopedout
I like your suggestion (dream) that NIF might use Hardwoods as a blueprint; but I do not think that Xstrata will want to recognize basic fairness with a possible conversion to a corporation.
On the other hand I like the current trend in market price of NIF and also note the opinion of Brandon Osten of Venator Capital Management as seen in the Financial post of April 8 from which I quote below.
“Noranda Income Fund recently rejected a takeover bid from Xstrata. However, the share structure is fairly favourable to non-Xstrata shareholders, Mr. Osten said.
"We think the net asset value could be worth over $10 alone. We believe the situation gets resolved in the next six months to the benefit of Noranda Income Fund shareholders."”
His opinion ties in with my own opinion that once the long term financing is properly set in place distributions should start again and I can see the price increasing to recognize the earning power of the plant and also the real, or replacement value - which in my opinion is much higher than Brandon's net asset value, of the plant which serves Xstrata’s needs.
Xstrata has tried a stink bid takeover and been rebuffed – I believe that Xstrata will eventually recognized that they are much better off to recognize reality and make an acceptable long term deal with NIF