Noranda Income Fund Unit NNDIF

Value of the NIF land

[rjk1234]

According to the description of the NIF business at the URL

https://www.marketscreener.com/NORANDA-INCOME-FUND-1411009/company/

“the Processing Facility ..... is located in Salaberry-de-Valleyfield, Quebec, ......... on an 820-acre site situated on the St. Lawrence Seaway”.      At

https://www.realtor.ca/real-estate/25006261/ch-du-canal-o-salaberry-de-valleyfield-saint-timoth%C3%A9e

a parcel of about 80 acres of vacant industrial land in the same area is listed at $20 Million. That suggests that the NIF land is worth roughly $200 Million. Per the Q3-2022 NIF balance sheet Residue Ponds rehabilitation liabilities stand at about $US 20 Million, so net value of the NIF land would be roughly $170 Million or $3.40 per NIF unit.

[ljp0101]

There's an environmental remediation cost associated with the land according to NIF and they say decommissioning the plant is a nonstarter. Only the pond remediation is on the balance sheet. I find this hard to believe but they have some studies from awhile back supporting their position.

[Scotch12]

The new guy "Stocky" who just established an account to make a thinly disguised pro-management takeover post - "take the crumbs they offer you"; yes, the situation is dire we have a board that appears to only be working in Glencore's interest.   Two votes on a 7-member board did not control the direction of the company. IJP, I assume you are a "no" on

[JasonBilly]

Thumbs up from me.  

[JCW]

Well said Scotch!....NO from me.   Lets get on with it!