Noranda Income Fund Unit 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

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Comment by ZincDink1on Mar 02, 2017 11:11am

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Post# 25919398

RE:RE:115 690 000 $ in Impairment loss for 2016.

Previous slaughter on plant value, at least the CFO had some basis in reality (no sure zinc concentrate). The 50 M$ this time had no basis - GC said we had 5 years supply! We may not know the cost, but we had supply.

Back of napkin calculation based on KoreanZinc suggests plant should be 500 MUSD (lets make 1 Can$= 1 USD for arguement). 50 Mshares, plant should have $ 10 value. GC originally offered $ 4/share, I want $ 5.

I would have thought CFO (if he was honest) may have added back some of the previous impairment. Silly me.

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