Noranda Income Fund Unit NNDIF

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

[iwasgold]

The only possible reason to buy into Noranda is to take advantage of the low price right now and hope that it recovers sometime down the road.  The 3 cent distribution is nice but represents only $1.1 million in non-Glencore money so is clearly pathetic, just a sop to shareholders.  Let's not forget that only aboout 5 years ago Noranda took 40 million in cash tht should have been given to us,  and put it into reserves, then used the money later to pay off debt that had been created for that purpose (sure they called it something else, but they didn't need the money).  Shareholders own 37.5% of the smelter, but that has a market cap of less than 50 million - for a smelter!! You couldn't build it for ten times that!  Clearly the stockmarket knows that Glencore has its fat finger on the scales. So take a chance - the rest of us sure did. It will only take another 30 years of distributions to get me back to par, so it should work out for you too.