Noranda Income Fund Unit NNDIF

re. motion to pressure directors

[rjk1234]

Per the 2020 Q1, Q2 and Q3 MD&A reports on the NIF website, for these quarters Adjusted EBITDA was $US 17.2M, 9.7M and 14.3M respectively for a total of $US41.3 M. Q4 numbers will come out at end of February but for now we can estimate Adjusted EBITDA for the whole of 2020 at about US$55M or about $CAD1.45 per unit. Recall that “adjusted EBITDA is used by the Fund as an indication of cash generated from operations”. In the past most of available cash from operations has been allocated to CAPEX and this has not generated value for unitholders. My proposed motion is an attempt to pressure the directors to allocate substantially more of cash generated from operations towards regular distributions to unitholders. This would most probably increase market price of the units and would at the very least give Noranda Income Fund unitholders some income.

If anyone would be prepared to second my proposed motion please email me at [e-mail]

[ryanwaters]

sounds like an exellent idea to me ... been  in this for years .. something needs to happen