{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-26-054941","form_type":"8-K","ticker":"MSB","cik":"0000065172","company_name":"MESABI TRUST","filed_at":"2026-05-04T23:59:59+00:00","discovered_at":"2026-05-14T18:02:33.635924+00:00","generated_at":"2026-05-15T00:08:30.789574+00:00","sec_items":["2.02","7.01","8.01","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Mesabi Trust Q1 2026: no bonus royalty paid; shipments up but pricing below threshold","bullets":["Total royalty payment of $1,625,300 received Apr 30, 2026; bonus royalty $0 – first time in years (excl. 2022-23 idling).","Base royalty $1,201,501; bonus royalty threshold $71.70/ton not met; prices based on Sept 2025 third-party sale.","Shipments credited: 938,572 tons in Q1 2026 vs 457,728 tons in Q1 2025 – volume up 105% YoY.","Positive adjustments of $243,986 from prior quarters included; $179,813 paid to Mesabi Land Trust.","Cliffs reported no additional third-party pellet sales since Sept 2025, limiting pricing data."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-26-054941","json":"https://secwatch.observer/filing/0001104659-26-054941.json","markdown":"https://secwatch.observer/filing/0001104659-26-054941.md","text":"https://secwatch.observer/filing/0001104659-26-054941.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/65172/000110465926054941/0001104659-26-054941-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/65172/000110465926054941/msb-20260430x8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-15T00:08:30.789574+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"820b53d1aab90942027361e309d5a9249efab8b3","claim":"MESABI TRUST reported financial results for the quarter ended March 31, 2026.","evidence_excerpt":"On April 30, 2026, Mesabi Trust received the quarterly royalty report of iron ore shipments out of Silver Bay, Minnesota during the quarter ended March 31, 2026 (the \"Royalty Report\") from Cleveland-Cliffs Inc.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/65172/000110465926054941/0001104659-26-054941-index.htm","confidence":0.85,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the quarter ended March 31, 2026"},{"label":"Result","value":"reported results"}]}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}