OTCPK:NNDIF - Post by User
Comment by
iwasgoldon Feb 24, 2020 1:15am
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Post# 30724238
RE:Reserves
RE:ReservesTo rjb954
Re the cash reservces put aside for smelter closing....
It was reported by the company as being paid into the large ABL that they opened in 2015 I believe. The ABL was supposedly created to fund a massive build up in inventory that year, but I have not done any looking to see what happened to the money when the inventory was sold. I suspect Glencore took the loan to make the inventory, then sold the inventory on to itself cheaply, thereby transfering money from the smelter to itself.