Noranda Income Fund Unit NNDIF

Opened OTC position

[petersburggray]

today, having watched on sidelines for a long time. Got surprisingly fast and niceOTC fills. Valuation compellingly low from several different angles and float is small. As Glencore stated in article, zinc smelting is bottleneck and with European zinc refiners uneconomic due to high energy costs, cezinc has a serious cost advantage vs the competition plus potentially this lack of economic refining capacity/refining bottleck translate into a surplus of zinc con miners must sell for fiat, giving cezinc good pricing power and profit.