Noranda Income Fund Unit T.NIF.UN

Divvie cut

[Armcorp]

 I think it is inevitable that GC is going to convert its shares into priority shares.  They can, so why wouldn't they? Hello 12.5 million more payouts of the divvie.  At that time I expect that the independent committee will take the opportunity to cut the divvie, citing the increased number of shares and the need for a cash reserve, and possibly by then it may become clear that they can't obtain enough concentrate to run flat out and/or the new union contract is on unfavourable terms for the company and/or the new SPA is unfavourable. There'll be lots of excuses they can point to, and the fact that they don't have to cut the divvie won't matter, and there's nothing we can do about it.   A cut to 18 cents or so would accomplish their goals.  I would expect the share price to fall again, so THEN would be a good time for GC to make an offer to buy the rest of us out.   If I thought of this then they surely have, and it looks like a winner if you are GC so why not do it? Nothing illegal or unethical about it that I can see - after all, business is business.