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 > WTF is wrong here?

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Comment by Scotch12on Nov 16, 2020 9:06am

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Post# 31905542

RE:RE:RE:RE:RE:RE:RE:WTF is wrong here?

I think the issue with somebody making an offer for the plant is Glencore's 25 % ownership. They are unlikely to ever approve a takeover. If I recall you need 65% approval of shareholders to accept a takeover. However, many shareholders don't vote so Glencore probably could effectively veto any such attempt.

In my hometown Labatt’s took over a discount private brewery that was cutting into their sales and then almost immediately closed it down just to help their own sales and margins. If a large Chinese firm bought the zinc plant and closed it this would drive up the price of TC as there is no excess zinc processing capacity.

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