OTCPK:NNDIF - Post by User
Comment by
stopedouton Nov 20, 2014 9:25pm
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Post# 23150476
RE:glencore ownership 25%
RE:glencore ownership 25%From Glencore's point of view: If they get the board, which they control, to cancel the dividend then all that cash flow stays on the balance sheet until May 2017 when their ordinary units convert and everyone has the same rights to dividends. So it looks very bad for us, unless an activist shareholder has been buying up this stock and can keep the board on the side of minority shareholders. Yes we own 75% of the company but we are minority shareholders. Crazy is it not? Also, from Glencore's point of view, 10 years from now do you think it would be good idea to own the largest zinc smelter on the east coast of north America? I think yes, at some point zinc is going to do what copper did and run from the $1 level to the $3 level and lots of zinc will be coming on line. They should want to own this asset, so at some point they will throw out a stink bid. I just hope it is above my current average of about $2.60.