Mesabi Trust receives $5.06M royalty on 1.0M tons shipped in Q1 2024 vs zero in Q1 2023

MESABI TRUST

Total royalty payment of $5,059,648 received on April 30, 2024 from Cleveland-Cliffs.
Q1 2024 shipments of 1,006,692 tons; Q1 2023 had zero shipments due to Northshore idling.
Base royalty: $2,106,086; bonus royalty: $2,520,601; plus $279,222 in prior-quarter adjustments.
Northshore partially restarted in April 2023; no updated 2024 shipment guidance from Cliffs.

item 2.02 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MESABI TRUST reported financial results for quarter ended March 31, 2024.

Period: quarter ended March 31, 2024
Result: reported results

Exact text from the filing

On April 30, 2024, Mesabi Trust received the quarterly royalty report of iron ore shipments out of Silver Bay, Minnesota during the quarter ended March 31, 2024

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Source: SEC EDGAR

accession 0001558370-24-006557

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