Noranda Income Fund Unit T.NIF.UN

RE:RE:RE:RE:Why woudl I ever invest in Noranda? Help please

[ZincDink1]

They will support them with concentrate, just not sure at what price. I noted that they supported TV, probably at our expense.

They may not be opening up new smelters outside of China, but China is the wild card. They shut in production do to enviromental, but some of the smelters did a revamp so I am not sure how much got taken off line. I did see back in 2016 they took about 500 kt of production off line so maybe they will do the same this time.

Right now, the TC are still dropping (not sure if its only imported or if its local Cina concentrate as well - they seem to walk down in price together, just at different rates).

The wild card IMHO is they could do a Nyrstar moment.

https://iceberg-research.com/2019/10/08/what-really-killed-nyrstar-nv-shareholders-have-a-strong-case-against-nyrstars-board-and-trafigura/

Trafigura are real snakes and make GC look like good guys IMHO.

What concerned me is when the GC nuyout lawyer quit the board this summer. Why did GC pull out? No agreement or are they thinking there will be excess smelter capacity and can keep TC so low that common shareholders get screwed.