Noranda Income Fund Unit NNDIF

Seller

[Rudolph25]

The reason the stock is down has nothing to do with fundamentals. It is supply and demand. There is a distressed seller that likely has had redemptions they needed to cover. My guess is probably Polar- Morgan Stanley Canada has sold 950,000 shares since May alone, very likely one seller. Fundamentally, This company has net working capital of $1.65/share, and remains profitable.so it is a Ben Graham net net. Zinc has now rebounded from about .83/lb to .98/lb, suggesting mine production should start rising, which should pressure up treatment charges. Remember in the short term the market is a voting machine, but in the long term a weighing machine. My guess is Glenvore will come back with another bid for the company within a year. Stay patient!