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Noranda Income Fund Unit NNDIF

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.


OTCPK:NNDIF - Post by User

Post by rjk1234on Feb 15, 2021 12:14pm
252 Views
Post# 32568416

re. motion to pressure directors

re. motion to pressure directors

Per the 2020 Q1, Q2 and Q3 MD&A reports on the NIF website, for these quarters Adjusted EBITDA was $US 17.2M, 9.7M and 14.3M respectively for a total of $US41.3 M. Q4 numbers will come out at end of February but for now we can estimate Adjusted EBITDA for the whole of 2020 at about US$55M or about $CAD1.45 per unit. Recall that “adjusted EBITDA is used by the Fund as an indication of cash generated from operations”. In the past most of available cash from operations has been allocated to CAPEX and this has not generated value for unitholders. My proposed motion is an attempt to pressure the directors to allocate substantially more of cash generated from operations towards regular distributions to unitholders. This would most probably increase market price of the units and would at the very least give Noranda Income Fund unitholders some income.

If anyone would be prepared to second my proposed motion please email me at rjk1234@rogers.com


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