Bullboard - Stock Discussion Forum Noranda Income Fund Unit NNDIF

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Noranda Income Fund is a Canadian based income trust. The fund owns the electrolytic zinc processing facility and ancillary assets located in Salaberry-de-Valleyfield, Quebec. It produces refined zinc metal and by-products from sourced zinc concentrates. The fund's long-term objective is to maximize unitholder value and provide monthly distributions to unitholders.

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Noranda Income Fund Unit > What to expect

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Post by Bigbird9999 on May 13, 2020 6:47pm

What to expect

My guess is:
Decent but not stellar quarter with positive earnings and full production. High TC revenues offset by falling Zn price. Lots of gloom and doom going forward due to reduced free metal and lower TCs due to covid reduced mine supply. Pick any scenario or TCs and metal price you want going forward.

GLTA
BB

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Comment by Finalsay on May 13, 2020 8:46pm

Pretty much nailed it. Pretty much what I was expecting as well. Didnt see as much of the higher TC charges in Q4 2019 so figured we would start seeing it more this quarter. EBITDA not quite where it was Q32019

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Comment by Northforce13 on May 13, 2020 11:03pm

NIF's quarterly results are unreliable as there are too many moving parts with inventory revaluations and hedges, etc Q3 2019 was a bizarre outlier, with an extreme degree of this problem. To whit, in Q3 the price of zinc declined substantially, from 1.32 to 1.13, which normally would result in a decline in inentory value of 24.7 mil. Instead, inventory was written up by 14.6 mil ...more

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