secwatch.observer — SEC 8-K summary
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Issuer:     MESABI TRUST (MSB)
CIK:        0000065172
Form:       8-K
Filed at:   2026-07-31T20:30:12+00:00
Accession:  0001104659-26-089248
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 2.02, 7.01
LLM model:  deepseek-v4-flash:cloud@v2

Mesabi Trust receives $1.81M royalty for Q2 2026; shipments down 2.4% YoY, no bonus
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- Total royalty payment of $1,807,779 received July 30, 2026: base royalty $1,585,696, bonus royalty $0.
- Iron ore shipments credited: 902,331 tons in Q2 2026 vs 924,442 tons in Q2 2025 (down ~2.4%).
- Bonus royalty threshold for 2026 is $71.70/ton; all deemed shipments priced below, resulting in no bonus.
- No additional third-party pellet sales since September 2025; pricing based on Sep/Dec 2025 sales.
- Royalties subject to continued due diligence; variations expected quarter to quarter.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/65172/000110465926089248/0001104659-26-089248-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/65172/000110465926089248/msb-20260730x8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-089248

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer