Noranda Income Fund Unit T.NIF.UN

Primary Symbol: NNDIF

Metals & Mining Industrial Metals & Minerals

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

Noranda Income Fund Unit > Glencore contract is exclusive

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Comment by Scotch12on Jul 17, 2021 11:31am

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Post# 33565139

RE:RE:RE:RE:RE:Glencore contract is exclusive

The longer I own this stock the more absurd the whole situation seems. Noranda owns the smelter but it is run by Glencore management. The best way for Noranda to get fair value for the smelter would be to sell it but that doesn't seem possible under the current SPA agreement. I would be curious if anyone disagrees with the later (could they sell the smelter to a third party).

Glencore keeps writing down the fair value of the smelter which according to the CEO on a recent conference call would cost more than a billion dollars to replace. But they write it down over and over again, using dubious accounting, with the clear intention to eventually take it over for next to nothing. There is no way they would get away with this in the US where they have strong anti-trust rules.

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