Noranda Income Fund Unit T.NIF.UN

RE:RE:RE:RE:RE:Earnings out

[Bigbird9999]

Depends on which expert is doing the talking.  Most of the industry think the benchmark will settle somewhere around $190 - $200.  Open markets has the China TC at $85 in Nov, $140 in Dec and $170 in Jan.  It appears to be still going up but who knows what will happen with the shooting and sanctions that are now unfolding. 

In 2019 China spot averaged >$250.  2020 TC fell from $325 in Jan to $80 in Dec and stayed there through 2021.  2022 Market price will settle somewhere between Benchmark and China spot.  Optimists can see the possiblity of >$220 TC which would produce a $50 million bump in annual EBITDA.  Pessimists will see more of the same breakeven performance of the past 2 years.  Personally, I don't believe there is much downside and there is a very real possiility of a big upside.  But this is coming from a guy who has held this stock for years.  Buying in now depends on your personal appetite for risk and what you know/believe will happen tomorrow

GLTA


BB