Noranda Income Fund Unit NNDIF

Seller

[Rudolph25]

The reason the stock is down has nothing to do with fundamentals. It is supply and demand. There is a distressed seller that likely has had redemptions they needed to cover. My guess is probably Polar- Morgan Stanley Canada has sold 950,000 shares since May alone, very likely one seller. Fundamentally, This company has net working capital of $1.65/share, and remains profitable.so it is a Ben Graham net net. Zinc has now rebounded from about .83/lb to .98/lb, suggesting mine production should start rising, which should pressure up treatment charges. Remember in the short term the market is a voting machine, but in the long term a weighing machine. My guess is Glenvore will come back with another bid for the company within a year. Stay patient!

[Finalsay]

Morgan Stanley is the seller again today. Where did you get that data going back to May? 

[ZincDink1]

I am a bit surprised that there is still selling pressure on this. A concern is GC takeover guru left the board this year. Anyone know what happened to Ken Klaussan? Was he voted off the island? He sounded like GC lawyer for merger and acquisitions. One concern is mining countries often try and set up their own processing as a way of adding value. Maybe Cile or another supplier is pushing for

[Finalsay]

The reason given was for Klassen to serve Glencore elsewhere in a consulting capacity. Spot was filled by Glencore by their Director and Vice President of Legal for Glencore (Peter Wright and he is also a lawyer). They announced today that quarter results will be released next wednesday

[ZincDink1]

Thanks. Interesting that it is another lawyer. Expecting this quarter to be a bit weak. Sounds like TC dropped a fair amount which maybe offset by the rise in the price of zinc. Actually, kind of interesting that the price of zinc has recovered back to February...could NIF price recover back to February? A lot of zinc mines have comeback on stream, so I expect we will see TC creep back to Feb

[Finalsay]

There is definitely a large shareholder dumping shares through Morgan Stanley. I can only see the most recent 25 trades through the tsx website so i can't put a number on the volume of this seller but it looks like the majority of all shares whenever I look are sold through morgan stanley. Also interesting that theres someone equally large on the other side of this trade. Anyone watching this