Noranda Income Fund Unit NNDIF

RE:RE:RE:RE:RE:ZINC TC's continue to rise

[Armcorp]

Glad t see you are still posting BB.  I like to see your info and thoughts.  However I do not agree with your thinking on the independent trustees (nb the board is not independent,  Four of the seven members are not directly affiliated with Glencore is all). I do not see them threatening to shut the place down.  I can't believe they would ever try to stand up to Glencore.  My reasoning is firstly that they are paid insanely well to do what they do, close to $800k among the four of them before meeting expenses.  They can point to the "abuse" they receive from shareholders to justify it to Gencore, who are quite happy to pay it to them to make us go away.  The money is tiny compared to the close to $1 billion the plant grosses. They are not going to jeapordize this sweet deal.  Secondly they don't have the power to shut the plant down. Gencore would not allow it.  The mechanics of it through the trustee agreement are foggy.  They would get fired before this happened. If the mill gets shut down it would be at Glencore's doing and/or blessing.  

On another topic, does anyone know if Polar is friendly to Glencore? I would love to see someone take on a class action suit against the independent trustees and Glencore for financial abuse of shareholders.

I think the best we can hope for is a small divvie down the road, just to make us barely miserable instead of outright pissed off as is the case now.