Noranda Income Fund Unit T.NIF.UN

RE:Zinc TC gave bck some money in China

[Scotch12]

I am pretty sure that every year from now on they are not going to be able to negotiate a deal, and will just go  to the default position which presumably is the spot price.   Funny, but I recall management indicating "in the unlikely event they can’t reach a deal” they will go with a predetermined formula. Glencore, of course, does nothing in good faith, and just tries to extract as much out of the smelter as they possibly can.

There has been a temporary slow down in China in part because of extreme Covid lockdowns.   I suspect that the high price of energy will have some affect on Noranda's improved earnings as they are responsible for transporting the finished product which shows up as “selling costs.”