secwatch.observer — SEC 8-K summary
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Issuer:     MESABI TRUST (MSB)
CIK:        0000065172
Form:       8-K
Filed at:   2022-05-03T23:59:59+00:00
Accession:  0001558370-22-006837
Event type: other_material
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Mesabi Trust gets Q1 royalty $13.5M; Northshore idling starts May 1 for ~4 months
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- Total royalty payments received from Cliffs on April 29 were $13,542,442 for Q1 2022 (base $6,032,086 + bonus $7,055,223).
- Iron ore shipments credited to Trust: 1,069,456 tons in Q1 2022 vs 919,457 tons in Q1 2021 (+16%).
- Northshore Mining idling commenced May 1 at Babbitt and Silver Bay; expected to last ~4 months until at least fall 2022.
- Royalty payments based on estimated prices subject to adjustments; negative pricing changes could reduce future distributions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/65172/000155837022006837/0001558370-22-006837-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/65172/000155837022006837/msb-20220429x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-22-006837

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