Noranda Income Fund Unit NNDIF

RE:Zinc TC gave bck some money in China

[schocor]

The janitor at Glencore probaly knows more about the future macinations of NSR's that I every will; however:

With Europe banning 2/3 (lol) of Russian oil today they also sent a message; convervation is now required. I cant see this being very good for the incrased production of Aluninium and Zinc on the continent moving forward. But I do see this as good for Noranda. 

China/Korea had energy issues last year. They will have less  - more expensive - gas this year. More - yet higher priced - oil seems like a certaintity as well. 

High worldwide energy costs are what will move this higher by the end of the year. $1.45 still looks like a very good price. 

As such - regarding the deal with Glencore - I am happy if they leave it at spot price for the next year. Management woudl be stupid/criminal to accept say $175/t at this time.