OTCPK:NNDIF - Post by User
Comment by
Bwrbhkon Feb 17, 2022 1:02am
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Post# 34436966
RE:RE:RE:RE:NIF financials
RE:RE:RE:RE:NIF financialsThe agreement for the 12 month period ending April 30, 2022 was market terms. The question is, what do they mean by market terms. It certainly does not include benchmark. The only thing that it can relate to is spot which is reported monthly by Wood Mackenzie, CRU and others including Open Mineral, Fastmarkets and SMM. They likely use either CRU or Wood Mackenzie as those are the ones that they mention in the quarterly conference calls. For the last 9 months or so, the average has been around $80/t and is currently $100+ per tonne. This can be confirmed by backcalculating the first 9 months results. Noranda broke even in the first 9 months of 2021 at $80/t TC's and $1.36/lb. zinc. With zinc currently at $1.65/lb. and TC's at $100+/t they should generate decent earnings in coming quarters.