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BRIEF-Noranda Income Fund Announces Q3 Results, Extension Of Agreements With Glencore Canada

Published 2020-11-05, 08:36 p/m
Updated 2020-11-05, 08:42 p/m
© Reuters.

Nov 5 (Reuters) - Noranda Income Fund NIF_u.TO :

* ANNOUNCES THIRD QUARTER 2020 RESULTS AND EXTENSION OF AGREEMENTS WITH GLENCORE CANADA

* LOSS BEFORE INCOME TAXES WAS $4.1 MILLION IN Q3 OF 2020

* QTRLY ZINC METAL PRODUCTION DECREASED 2% TO 64,748 TONNES

* QTRLY ZINC METAL SALES DECREASED 2% TO 64,749 TONNES

* ADJUSTED NET REVENUES WERE $49.3 MILLION FOR Q3 2020 COMPARED TO $58.0 MILLION IN SAME PERIOD 2019

* SPA NON-RENEWAL NOTICE PERIOD HAS BEEN AMENDED TO 540 DAYS BEFORE APRIL 30, 2025 OR ANY SUBSEQUENT RENEWAL DATE THEREAFTER

* FUND'S ESTIMATES FOR ITS 2020 ZINC METAL PRODUCTION AND SALES CONTINUES TO BE BETWEEN 260,000 TO 270,000 TONNES

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