Mesabi Trust Files 8-K on Financials
Ticker: MSB · Form: 8-K · Filed: Oct 17, 2024 · CIK: 65172
Sentiment: neutral
Topics: financial-reporting, 8-K, mineral-royalty
TL;DR
MESABI TRUST FILED ITS 8-K ON 10/17/24 - FINANCIALS UPDATE.
AI Summary
Mesabi Trust filed an 8-K on October 17, 2024, reporting on its results of operations and financial condition. The filing includes financial statements and exhibits, with the company's fiscal year ending on January 31st. Mesabi Trust is a mineral royalty company incorporated in New York.
Why It Matters
This filing provides investors with an update on Mesabi Trust's financial performance and condition, which is crucial for evaluating the company's stability and future prospects.
Risk Assessment
Risk Level: low — This is a routine 8-K filing providing financial updates, not indicating any immediate operational or financial distress.
Key Numbers
- 0001558370-24-013375 — Accession Number (Unique identifier for the filing)
- 1-4488 — Commission File Number (SEC file number for Mesabi Trust)
- 13-6022277 — I.R.S. Employer Identification No. (Tax identification number)
Key Players & Entities
- MESABI TRUST (company) — Registrant
- October 17, 2024 (date) — Date of earliest event reported
- New York (location) — State of incorporation
- 0131 (date) — Fiscal year end
- Deutsche Bank Trust Company Americas (company) — Trustee/Agent
FAQ
What specific financial results are being reported in this 8-K?
The filing indicates it pertains to 'Results of Operations and Financial Condition' and includes 'Financial Statements and Exhibits', but the specific details of the results are not provided in the provided text.
When is Mesabi Trust's fiscal year-end?
Mesabi Trust's fiscal year ends on January 31st (0131).
What is the primary business of Mesabi Trust?
Mesabi Trust is identified as a mineral royalty trader, with the Standard Industrial Classification code [6795].
Where is Mesabi Trust incorporated?
Mesabi Trust is incorporated in New York.
Who is acting as the trustee or agent for Mesabi Trust at the principal executive offices?
Deutsche Bank Trust Company Americas, Trust & Agency Services, is listed as the entity at the principal executive offices.
Filing Stats: 674 words · 3 min read · ~2 pages · Grade level 11.3 · Accepted 2024-10-17 16:59:05
Key Financial Figures
- $0.39 — ed a distribution of thirty-nine cents ($0.39) per Unit of Beneficial Interest payabl
- $0.35 — . This compares to a thirty-five cents ($0.35) per Unit distribution declared for the
- $71,185,029 — Cleveland-Cliffs Inc. paid Mesabi Trust $71,185,029 on October 4, 2024. This payment satisf
Filing Documents
- msb-20241017x8k.htm (8-K) — 41KB
- msb-20241017xex99d1.htm (EX-99.1) — 10KB
- 0001558370-24-013375.txt ( ) — 175KB
- msb-20241017.xsd (EX-101.SCH) — 3KB
- msb-20241017_lab.xml (EX-101.LAB) — 16KB
- msb-20241017_pre.xml (EX-101.PRE) — 11KB
- msb-20241017x8k_htm.xml (XML) — 5KB
02 Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition. Announcement of Distribution On October 17, 2024, Mesabi Trust (the "Trust") issued a press release announcing that the Trustees of Mesabi Trust declared a distribution of thirty-nine cents ($0.39) per Unit of Beneficial Interest payable on November 20, 2024, to Mesabi Trust Unitholders of record at the close of business on October 30, 2024. This compares to a thirty-five cents ($0.35) per Unit distribution declared for the same period last year. A copy of the press release is being furnished as Exhibit 99.1 to this Form 8-K.
01 Regulation FD
Item 7.01 Regulation FD. AAA Arbitration Final Award As previously reported, the arbitration initiated by the Trust in October 2022 concluded in June 2024. Pursuant to the AAA tribunal's final award dated September 6, 2024, Northshore Mining Company and Cleveland-Cliffs Inc. paid Mesabi Trust $71,185,029 on October 4, 2024. This payment satisfied the AAA panel's unanimous award of damages (including pre-award interest) for underpayment of royalties due to the Trust in 2020, 2021 and the first four months of 2022. The distribution announced today also reflects the Trustees' determination to hold these funds in reserve pending the expiration of procedural deadlines related to the arbitration, and an assessment of all other facts and contingencies. In the interim, the Trustees have invested the funds in appropriate interest-bearing accounts.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits . Exhibit No. Description 99.1 Press Release dated October 17, 2024 104 Cover Page Interactive Data File (formatted in Inline XBRL and included as Exhibit 101) In accordance with general instruction B.2 to Form 8-K, the information in this Form 8-K shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MESABI TRUST By: /s/ Chris Niesz Chris Niesz Director Deutsche Bank Trust Company Americas, Corporate Trustee of Mesabi Trust Dated: October 17, 2024 3