Noranda Income Fund Unit T.NIF.UN

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Some sizeable trades lately

[ZincDink]

Prior to Covid, refinery demand was higher and it was the surprise mine curtailments that killed refinery demand and caused the TC price errosion.

Comparing Flin Flon to Noranda is comparing a sour grape to a sweet watermelon. There is no comparison.

Zhuzhou recently built a new 300 MT/yr plant as a replacement (slighlty bigger than NIF capacity). Can't find the reference now, but I recall the plant was built for 750 M$/USD. Not sure if this included closure of the original plant which was closed due to heavy pollution. China may be able to build plants cheaper than North America, but they don't get to build it for free.

Just think, they could have bought NIF for a 250 M$ and been able to party with the 500 M$ saved!

I wouldn't agree that CEZ has always been cost competitive. Just a few years ago, the European refiners were significantly better cost wise (how times change).

I personally never saw this energy crunch coming. France is mainly nuclear and wow, uranium price has exploded. CEZ was getting a break on electricity price, so we shall see how long that gets extended.

Now, we just need for curtailment announcements to come from China, zinc concentrate prices to tank, and TC will move up.