Noranda Income Fund Unit T.NIF.UN

RE:RE:RE:AGM motion to pressure NIF directors

[ZincDink1]

Well, it was alot easier to answer back in March. Current assets minus all liabilities it was worth 59 M$ USD or $ 1.53 alone. That has dropped significantly now to 23 M$USD or 60 cents per share. That 2nd quarter blew some holes in the balance sheet.

Now there is almost 1000 acres of industrial land with readily available low cost electricity. The whole plant is valued at 115 M$ since they took a bull shirt impairment of 80 M$ a few years back, but lets say we only get half of the value. That would make it worth at least $ 2 by the time the dust clears.

Back in 2010, Xstrata wanted to buyout everyone for almost $ 4 per share, which was low.