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Noranda Income Fund Reports 2017 First Quarter Financial Results
Apr. 28, 2017 08:36AM PST
Base Metals Investing Noranda Income Fund (TSX:NIF.UN) (the “Fund”) today reported its financial results for the three month period ended March 31, 2017. All amounts are in Canadian currency unless otherwise stated. As quoted in the press release: “In a few days, we will begin to purchase concentrate on market terms. This transition requires that we operate as …
Noranda Income Fund (TSX:NIF.UN) (the “Fund”) today reported its financial results for the three month period ended March 31, 2017. All amounts are in Canadian currency unless otherwise stated.
As quoted in the press release:
“In a few days, we will begin to purchase concentrate on market terms. This transition requires that we operate as efficiently and cost-effectively as possible in light of tight zinc concentrate supply conditions and low treatment charges,” said Ms. Eva Carissimi, President and Chief Executive Officer of Canadian Electrolytic Zinc Limited. “Within this context, we are disappointed that we have been unable to settle the dispute with the unionized employees.”
Ms. Carissimi added, “Our Q1 financial and operating results were impacted by the effects of the strike initiated by unionized workers at our Processing Facility. We are very happy to report that staff have sustained an operating rate of 60% of normal levels in March and that we have been able to re-establish the supply of metal to customers.”
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