Noranda Income Fund Unit NNDIF

Market never ceases to amaze

[ZincDink]

We are getting close to record high TC, which is the main way the company makes money.

https://www.asianmetal.com/Zinc/

The drop in zinc price is actually a good thing when you use an active hedging program (long term shouldn't matter much, but short term could give back 10 M$ lost from last month in hedging during rapid rise in zinc price).

At the current spot TC, we should be returning 15 to 20 M$ per q minimum and yet people are selling like this is going broke.

What makes someone bail when the road ahead is so golden?

[HA20200]

The share price is down a bit over the last week....but I do not agree that people are selling like this is going broke. The sales volume over the last 5 days is very very low. If shares were being tossed at high volume ...I would be scratching my head. Those who own large amounts of this are not selling....in fact I predict they will be adding if they get the opportunity.

[schocor]

I have entered a position here over the last 5 days. My average cost was $1.47 and I am quite pleased with that price and the number of shares I was able to get out of the market. It is not a big position, because I am not a big investor, but I believe I was responsible for buying about 15-20% of the shares traded in the last 5 days. Nobody is dumping shares in any volume from my perspective (5

[schocor]

I took the opportunity to add a little more today at $1.34 and my trades represented about 40% of todays low, low volume.  There is NO/ZERO buying interest in this stock today and what looked like one of two small sellers.  Kept some powder dry in case this one wants to go sub $1.25 tomorrow; but I doubt I will find a seller at that price.  

[HA20200]

I suspect there will be very little volume until, either next quarter results/annual meeting or news regarding TCs....

[schocor]

Yes I think you are right. But I am okay with low volume and dont mind picking up shres where I can.   There were a couple large buyers (I believe) in Mar-April. I cant remember the names, but I think two funds took up positions in Noranda; and if I am not mistaken they are both over the 10% threshold and had to disclose their positions. It woudl be quite hard to get you hands on 10