Welcome to our dedicated page for Mesabi Trust news (Ticker: MSB), a resource for investors and traders seeking the latest updates and insights on Mesabi Trust stock.
Mesabi Trust (MSB) provides investors with essential updates through this comprehensive news hub focused on its iron ore royalty operations. Track official press releases, financial disclosures, and operational developments from the trust managing mineral rights in Minnesota's historic Mesabi Iron Range.
This resource centralizes critical information about MSB's royalty-based revenue model, Peter Mitchell Mine operations, and strategic asset management decisions. Users will find timely updates on quarterly distributions, production volumes, and trust administration matters.
The page features verified updates including:
• Earnings reports and royalty income statements
• Operational updates from the Peter Mitchell Mine
• Trust administration announcements
• Iron ore market position analyses
Bookmark this page for direct access to Mesabi Trust's official communications and curated industry context. Check regularly for updates that impact understanding of this unique royalty-based investment vehicle.
Mesabi Trust (NYSE:MSB) announced that there will be no distribution declared for April 2023, a significant drop from last year's distribution of $1.04 per Unit. This decision stems from uncertainties surrounding Cleveland-Cliffs’ idling of Northshore Mining Company’s operations, lack of royalty payments in the last two quarters, and no production or shipments reported at Northshore. The Trustees aim to maintain adequate reserves for current and future expenses, citing several risk factors including economic volatility, potential impacts from the ongoing COVID-19 pandemic, and uncertainties in the iron ore market. The quarterly royalty payments related to the first calendar quarter are due on April 30, 2023, with a report to be filed with the Securities and Exchange Commission afterward.
The Trustees of Mesabi Trust (NYSE:MSB) announced that no distribution will be declared for January 2023, in contrast to $1.75 per unit in January 2022. This decision arises from uncertainties regarding the ongoing idling of Northshore Mining Company operations, extended by Cleveland-Cliffs Inc. until at least April 2023. Other factors include potential volatility in the iron ore market, an arbitration against Northshore for underpayment of royalties, and economic uncertainties.
The Trustees of Mesabi Trust (NYSE:MSB) have announced no distribution for October 2022, in contrast to $1.42 per Unit last year. This decision is primarily due to uncertainties surrounding Northshore Mining Company's idling operations, extended by Cleveland-Cliffs Inc. until at least April 2023. The Trustees aim to maintain reserves to meet potential future liabilities. Additionally, Mesabi Trust has initiated arbitration against Northshore and Cliffs for underpayment of royalties from 2020 to 2022.
The Trustees of Mesabi Trust (NYSE:MSB) announced an increased distribution of $0.84 per Unit of Beneficial Interest, payable on August 20, 2022, to unitholders of record by July 30, 2022. This marks a significant rise from $0.09 per Unit from the previous year, primarily due to increased royalties linked to higher iron ore prices and production volume from Cleveland-Cliffs Inc. Significant royalty payments reached $13,542,442 in April 2022, up from $6,340,032 in April 2021. The Trust's cash reserves remain sufficient to meet current and future expenses despite ongoing operational idling at Northshore.
Mesabi Trust (NYSE: MSB) announced receipt of a quarterly royalty report revealing total royalty payments of
The Trustees of Mesabi Trust (NYSE:MSB) announced a distribution of $1.04 per Unit, payable on May 20, 2022, to unitholders recorded by April 30, 2022. This reflects a 15-cent increase from last year's $0.89. The increase is primarily due to a rise in total royalties, with $20,933,315 received from Cleveland-Cliffs Inc. in January 2022, compared to $12,317,853 in January 2021. The Trust has sufficient cash reserves for this distribution while also increasing unallocated reserves amid the potential idling of Northshore Mining operations by Cliffs.
The Trustees of Mesabi Trust (NYSE:MSB) announced a distribution of $1.75 per Unit of Beneficial Interest, payable on February 20, 2022, to unitholders of record as of January 30, 2022. This marks an increase from $0.46 per Unit during the same period last year, driven by total royalty payments of $19,053,159 from Cleveland-Cliffs Inc.. The increase includes underpaid royalties and higher iron ore prices. The Trust maintains sufficient reserves for future liabilities, despite potential production idling at Northshore Mining.
The Trustees of Mesabi Trust (NYSE:MSB) announced a distribution of $1.42 per Unit of Beneficial Interest, payable on November 20, 2021. This represents an increase from $0.36 per Unit during the same period last year. The rise in distribution is primarily due to total royalty payments of $19,495,040 received from Cleveland-Cliffs Inc. for the second quarter of 2021, significantly up from $4,349,830 in 2020. The Trust expects sufficient reserves to meet future expenses and liabilities, reflecting solid operational performance amidst favorable iron ore pricing.
The Trustees of Mesabi Trust (NYSE:MSB) declared a distribution of $0.09 per Unit of Beneficial Interest, an increase from $0.05 last year, payable on August 20, 2021. This rise is attributed to a significant increase in royalty payments from Cleveland-Cliffs Inc., totaling $6,340,032, compared to $449,496 in April 2020. Higher iron ore prices and shipment volumes contributed to this increase. The Trust maintains sufficient reserves for future obligations, with quarterly royalty payments due on July 30, 2021, to be reported to the SEC afterward.
