Noranda Income Fund Unit NNDIF

Good news - Glendora settlement

[Vancouverboy]

Glencore is now in a position to buy them out. Alternatively Noranda could be sold to Teck or go private. The current model does not favour shareholders.

[BrockHennesy]

I just listened to the CC. Only one question was asked, why had selling costs increased by almost a third. The CEO or CFO said partially it was as a result of change in US fx and partially due to  an increase in consulting fees.  There was a follow up on what kinds of consulting fees, and the question was totally dodged.  Any idea what the increased fees pertain to and why a

[galvanized]

Engineering work related to the upgrade or future improvements to come, would be my guess. You hire consultants to make things better.  It is not a bad thing, it is an investment.

[BrockHennesy]

You miss the whole point why should we have to guess about why costs in a certain area have gone up by a third (and if this will be an onging expense).   Management has been asked a grand total of one question in the last two CC's combined and they couldn't be bothered to answer it, even after being pressed.  There used to be a number of analysts who would show up for the