Noranda Income Fund Unit T.NIF.UN

Annual meeting

[Bwrbhk]

For those of you who did not tune in to the annual meeting, there were two very important charts shown by Noranda's market consultant.  The first one was showing a graph of spot TC's which bottomed out at $70/t in March of 2021 and hit a recent high of $250/t last month.  Spot TC's have recently backed of to around $220/t.  Still a good number for Noranda.  The other graph showed that zinc metal premiums in North America have increased from around $0.07/lb. this time last year to a recent high of about $0.37/lb.
Based on Noranda's latest guidance, they will likely process around 500,000 tonnes of zinc concentrate this year and produce about 260,000 tonnes (570,000,000 lbs.) of zinc metal.  Also, the LME price of zinc averaged $1.32/lb. in the 2ndQ of last year and will likely average a around $1.75/lb in this years 2ndQ..
It is not hard to see that Noranda could have blow out quarters for the balance of this year.