Author Topic: NIF-UN.TO - Noranda Income Fund  (Read 3082 times)

Lakesider

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Re: NIF-UN.TO - Noranda Income Fund
« Reply #10 on: May 22, 2019, 09:16:09 PM »
I was thinking about adding when the price dipped but my stupid brain passed because the price is much higher than what I originally paid.

If this is paying a dollar out in free cash it could still have a long way to run.


samwise

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Re: NIF-UN.TO - Noranda Income Fund
« Reply #11 on: May 23, 2019, 06:11:28 PM »
I was thinking about adding when the price dipped but my stupid brain passed because the price is much higher than what I originally paid.

Same. I would buy 3xFCF any day. But I bought a bit of this at 1.2, sold at 1.5 and 2.1. Now buying more at $3 is mentally stressful. Price history should not matter. Anyway this is still about a 5% position for me now, and I am holding on for now, since the fundamentals do seem to have improved.

BTW if they do want to pay off the ABL, that might be 4 years of FCF. They didn't sound in a hurry to resume dividends, but some will be forced on them to keep the income fund status.
« Last Edit: May 23, 2019, 08:02:11 PM by samwise »

Maple Fun

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Re: NIF-UN.TO - Noranda Income Fund
« Reply #12 on: November 08, 2019, 10:03:25 AM »
Q3 out yesterday, it has been a bumpy road to say the least...

now share price at $2.2

Lakesider

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Re: NIF-UN.TO - Noranda Income Fund
« Reply #13 on: November 08, 2019, 02:17:20 PM »
Glad I added to this when it dropped back down. This quarter still has some inventory going out at the lower TCs so EBITDA should be higher still in Q1.
« Last Edit: November 09, 2019, 05:15:52 PM by Lakesider »

Maple Fun

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Re: NIF-UN.TO - Noranda Income Fund
« Reply #14 on: November 12, 2019, 02:18:37 PM »
Interesting quote from earnings

Doug Warwick, TD Asset Management
Well, you do know several variables. You have a good
idea of what volume you can put through the plant and
you know what’s the tolling charge price is, so you can
figure out the revenues. So, you’ve got most of the
variables, I hope you guys are sitting down and doing
some numbers here.


Paul Einarson, Chief Executive Officer of Canadian
Electrolytic Zinc Limited, the Fund’s manager
Certainly we’re looking at our forecast, but we’re not in
the habit of providing guidance on these kind of matters.