Noranda Income Fund Unit NNDIF

2nd Quarter

[Bwrbhk]

Noranda will likely report 2ndQ results in the last week of April.  Revenues should be much higher than the 1st Q because the price of zinc averaged $1.77/lb. in the 2 ndQ vs. $1.70/lb. in the 1st Q, TC's should be much higher,  zinc premiums should be at record levels and sulphuric acid prices should be higher.  Also, operating results should be better than the 1st Q.  On top of all of that, they should recoup much of the hedging losses from the previous quarters.  Could be a blowout quarter.