Noranda Income Fund Unit NNDIF

Boliden investing 700M euro in zinc smelter. WOW!!

[galvanized]

https://codeitworldwide.com/news/expansion-of-boliden-odda-and-more-zinc-with-world-leading-climate-performance/

So this is really extraordinary news.  The zinc smelter outlook is so improved that boliden is willing to invest 700M euro in a zinc smelter upgrade.  They enjoy exactly the same advantage NIF has, which is access to cheap hydro electric power.  So the 700M where their mouth is says zinc treatment charges are going up.

[Eric1212]

Seeing a 700m euros investment as an indicator that TC will get better is logical but it's seems evident that it's will get better with less mines employes shortgage from covid. A thing that they probably didn't see is they are on sea level, there is a hill up to 30 meters but many key installation are below 3 meters and will be highly affected in next 10-20 years... NIF is at 50 meter

[galvanized]

I haven't looked at Boliden very closely but my guess it that the difference in concentrate costs may be that Boliden operates some mines or has some long term supply contracts in place, whereas NIF has been operating on spot in recent history. There is lots of zinc in the crust of the earth, and higher prices are incentivising greater mine production, and forecasts suggest that concentrate

[Eric1212]

Clearly, 2020 & 2021 are exceptionals. China also taked a big long term hit that will change the market for large electricity consuming activities. For Boliden, it's kind similar to what we could see with Teck Resource, we might having that info from the Boliden's doccuments but probably that they are at spot, simply because too low would make hard to maintain the activity of the

[ZincDink1]

So why didn't we let Boliden know they could have our mill for a few hundred million. Heck, they could try and offer 100 M$ now and tell GC no thanks, we have our own concentrate. Its outrageous that the management team keeps driving down the value of this mill. So sick of this, still think GC is going to try and drive value to under 25 M$ so they can come in white knight and offer 35 M$. Mr

[Scotch12]

I think it has been brought up by others, can the independent board agree to the sale of the smelter without the permission of Glencore? I suspect they can't under the current contract. I recently emailed management and asked them this question but have not yet received a response. As we speak 40 million dollars is being spent to improve our smelters capacity by approx. 10 percent and that is

[Martincat]

Only in Canada Scotch 12....All people and all provincial, federal instutitions responsible for protecting investors are asleep at the wheel....NIF is well ensnared much like a deer by a phyton and nobody cares...I do have to mention the efforts of ERIC to shake up the BOD out of its topor. Thanks ERIC!

[JasonBilly]

Seconded! Is there any concrete action that can be taken to follow up?

[Eric1212]

I did send the new calculation to the Bureau. You always could contact the bureau using Ref R718578 . They will not inform you their progress as they did not informed me but your testimony will surely help to proove the prejudice.   I've also contacted SSR Mining ( [e-mail] ) and Teck Resources ( [e-mail] ) to let them informed of the

[Scotch12]

I would also like to thank you Eric for your efforts.  I don't know if they will ultimately lead to any real change but I admire and appreciate your efforts.  I did one time complain to the OSC about Noranda's refusal to advise shareholders the terms of the contract with Glencore and they said they would look into. However, I never heard back from them again. I think your

[Eric1212]

I did also complaint to the AMF here in Quebec, not much too. Every lawyer states tons of fees so no way there. For the bureau, there is no email, only the reference number https://www.competitionbureau.gc.ca/eic/site/cb-bc.nsf/frm-eng/GH%C3%89T-7TDNA5

[JCW]

Thanks Eric, for your ongoing efforts. It's disappointing that there hasn't been a "white knight" with enough interest to go after the mill. I wonder if all the potential players know about it...I would think so, by now. In any case...it's hardly worth selling at this level..better to see what might still be around the corner .....I'll hold....GLTA