Mesabi Trust(US:MSB)2025-07-11 20:30Form 8-K Current Report Item 2.02 & 7.01: Results of Operations, Financial Condition, and Royalty Payments Mesabi Trust received a $2.42 million royalty payment for Q1 2025, reflecting significantly lower iron ore shipments and inherent income volatility Royalty Payment Details for Q1 2025 Mesabi Trust's Q1 2025 royalty payment totaled $2,422,329, comprising base and bonus royalties with no prior period adjustments Q1 2025 Royalty Payment Breakdown (as of April 30, 2025) | Category | Amount (USD) | | :--- | :--- | | Total Royalty Payment | $2,422,329 | | Base Royalty | $1,067,762 | | Bonus Royalty | $1,281,315 | | Payment to Mesabi Land Trust | $73,252 | - The royalty payment received by the Trust did not include any adjustments related to prior quarters6 Shipment Volume and Influencing Factors Q1 2025 iron ore shipments significantly decreased to 457,728 tons from 1,006,692 tons year-over-year, underscoring royalty payment volatility due to operational and market factors Iron Ore Shipment Volume Comparison (Q1 YoY) | Period | Tons Shipped | | :--- | :--- | | Q1 2025 | 457,728 | | Q1 2024 | 1,006,692 | - No additional third-party arms'-length sale transactions of iron ore pellets have been reported since two low-volume shipments in December 20247 - Royalty variations are driven by multiple factors including Cliffs' operational decisions (like the idling from May 2022 to April 2023), customer delivery schedules, economic conditions, and weather. These variations can be significant and are unpredictable8 Item 8.01: Other Events Mesabi Trust filed its Annual Report on Form 10-K for FY2025 with the SEC on April 24, 2025, providing unitholders access instructions - The Annual Report on Form 10-K for the fiscal year ended January 31, 2025, was filed with the SEC on April 24, 20259 - Unitholders can obtain a hard copy of the audited financial statements free of charge upon request or access them via the Mesabi Trust website9 Forward-looking Statements This report includes forward-looking statements on production, pricing, and royalties, subject to various economic and operational risks, with no obligation for updates - The forward-looking statements are made under the safe harbor protections of the Private Securities Litigation Reform Act of 199510 - Key risks that could cause actual results to differ include: adverse economic trends, war, tariffs, customer demand for steel, mine curtailments, and environmental compliance uncertainties10 - Mesabi Trust undertakes no obligation to publicly update or revise any forward-looking statements1011 Item 9.01: Financial Statements and Exhibits The report includes exhibits such as a press release dated May 2, 2025, and the Cover Page Interactive Data File Exhibits Filed | Exhibit No. | Description | | :--- | :--- | | 99.1 | Press Release dated May 2, 2025 | | 104 | Cover Page Interactive Data File (Inline XBRL) |