Noranda Income Fund Unit NNDIF

Volume

[Finalsay]

Odd spike in volume yesterday (largest day volume over the last year). Wasn't watching the order book at all. Price didn't move all that much considering the volume level. Is this accumulation or distribution? Price action suggests its distribution, but at these price levels you gotta think there are some smart money managers out there looking at the risk/return profile of these shares and looking to establish a position looking for outsized returns. Only 9-months ago there was a strong possibility (or decent probability) of Noranda returning to more meaningful and frequent distributions by this time 2020. Obviously that picture (and probability) deteriorated quickly over the last 9 months. However, that same picture could brighten back up over the next 6 months and lead to 100%+ returns from current levels. Signifcant upside over the next 12-15 months with limited downside (we've joked on here that liquidation news would likely improve share prices) are presenting a pretty unique opportunity for those with cash flow, patience and a little bit of guts.