OTCPK:NNDIF - Post by User
Comment by
ljp0101on Jun 19, 2022 6:04am
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Post# 34767315
RE:Annual meeting
RE:Annual meetingDid they say anything about how the expansion ramp up is going and if their operational problems have improved?
You should note a couple things: 1) inventory takes time to go through the income statement so Q2 adjusted EBITDA won't benefit from anywhere near that TCRC level and there will still be impact in Q3; 2) zinc is in meanigful backwardation, which means hedging loses ~0.04/lb as CEZ buys cash and sells 3m; 3) Depends on quarter end price but there will likely be a big hedging gain in Q2 so reported earnings will be good.
Q3 is when I expect to see marked adjusted EBITDA improvement that is reflective of curret market conditions.