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Noranda Income Fund is a Canadian based income trust. The fund owns the electrolytic zinc processing facility and ancillary assets located in Salaberry-de-Valleyfield, Quebec. It produces refined zinc metal and by-products from sourced zinc concentrates. The fund's long-term objective is to maximize unitholder value and provide monthly distributions to unitholders.

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Noranda Income Fund Unit > Earnings out

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Post by Scotch12 on Jul 25, 2022 8:14pm

Earnings out

111.9 million profit as a result of 130 million derivative gain. However, production signficantly down due management incompetence & labour shortage issues.

https://www.stockwatch.com/News/Item/Z-C!NIF-3282431/C/NIF

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Comment by HA20200 on Jul 25, 2022 8:19pm

I expected the derivative gain as we alll did, I also figured there was a pretty good chance they would bum up the rest of it. :)

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Comment by schocor on Jul 26, 2022 12:49am

yikes!! that was a terrible quarter. sigh

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Comment by ljp0101 on Jul 26, 2022 8:00am

Wow that was bad even by my low standards. Next quarter will hopefully be better but I don't see much QoQ increase in physical premium and a below market increase in acid, which suggests Glencore trading has taken most of the margin. Even assuming higher TCRCs and lower free metal, I don't think adjusted EBITDA will be in bonanza mode without higher premium and byproducts contribution. ABL ...more

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Noranda Income Fund Unit