Noranda Income Fund Unit T.NIF.UN

RE:RE:RE:RE:RE:NORANDA AND TREVALI SHAREHOLDERS BEING SCREWED BY GLENCORE

[ZincDink1]

Being the expert (I read some reports on the internet!), there is a China market Zinc TC and a China Import Market for zinc TC. If you look at some of the smelters, some are near inland mines and therefore don't rely on import material while I believe there are a few near the coast that obtain material from Australia and South America. The South America, for whatever reason, tends to fill the spot market. Along come Corona, bye bye chunks of concentrate. Didn't hit in the 2nd or maybe even the 3rd quarter much as parts of the China economy were shut down (one plant couldn't move sulfuric acid, they are up and runing now).

The quality of the zinc concentrate is beyond my paygrade, but there is enough concern over this.