Mesabi Trust is a royalty trust organized under the laws of the State of New York in 1961 to derive income from an iron mine (the Peter Mitchell Mine) located near Babbitt, Minnesota, at the eastern end of the Mesabi Iron Range. Under various agreements the mine is operated by Northshore Mining Company (“Northshore”), a subsidiary of Cleveland-Cliffs Inc. (“CCI”). Northshore mines the ore, which is in the form of taconite, a hard rock containing approximately 21% recoverable iron, crushes it, separates the iron particles from the non-metallic, and forms the resulting concentrate into pellets which are shipped for use in steel-producing blast furnaces of customers of CCI, an international mining company, the largest producer of iron ore pellets in North America.
Company profile
Ticker
MSB
Exchange
Website
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
IRS number
136022277
MSB stock data
Latest filings (excl ownership)
8-K
Results of Operations and Financial Condition
1 Feb 23
8-K
Results of Operations and Financial Condition
12 Jan 23
10-Q
2023 Q3
Quarterly report
13 Dec 22
8-K
Results of Operations and Financial Condition
2 Nov 22
8-K
Results of Operations and Financial Condition
14 Oct 22
10-Q
2023 Q2
Quarterly report
13 Sep 22
8-K
Results of Operations and Financial Condition
2 Aug 22
8-K
Regulation FD Disclosure
22 Jul 22
8-K
Results of Operations and Financial Condition
15 Jul 22
10-Q
2023 Q1
Quarterly report
13 Jun 22
Latest ownership filings
SC 13G
VALUEWORKS LLC
10 Feb 23
SC 13G/A
HORIZON KINETICS ASSET MANAGEMENT LLC
30 Jan 23
SC 13G/A
HORIZON KINETICS ASSET MANAGEMENT LLC
27 Jan 22
SC 13G/A
HORIZON KINETICS ASSET MANAGEMENT LLC
10 Nov 21
SC 13G/A
HORIZON KINETICS ASSET MANAGEMENT LLC
16 Feb 21
SC 13G
HORIZON KINETICS ASSET MANAGEMENT LLC
8 Dec 20
4
Robin M. Radke
12 Jun 19
3
Robin M. Radke
28 Jan 19
Financial summary
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| Annual (USD) | Jan 22 | Jan 21 | Jan 20 | Jan 19 | |
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| Diluted EPS |
| Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
|---|---|---|---|---|---|---|
| Cash on hand (at last report) | 14.50 mm | 14.50 mm | 14.50 mm | 14.50 mm | 14.50 mm | 14.50 mm |
| Cash burn (monthly) | (no burn) | 2.61 mm | 137.90 k | (no burn) | 88.07 k | (no burn) |
| Cash used (since last report) | n/a | 12.42 mm | 655.46 k | n/a | 418.60 k | n/a |
| Cash remaining | n/a | 2.08 mm | 13.85 mm | n/a | 14.09 mm | n/a |
| Runway (months of cash) | n/a | 0.8 | 100.4 | n/a | 159.9 | n/a |
Institutional ownership, Q4 2022
2.1% owned by funds/institutions
| 13F holders | Current |
|---|---|
| Total holders | 51 |
| Opened positions | 5 |
| Closed positions | 8 |
| Increased positions | 15 |
| Reduced positions | 16 |
| 13F shares | Current |
|---|---|
| Total value | 59.49 bn |
| Total shares | 4.89 mm |
| Total puts | 15.20 k |
| Total calls | 64.60 k |
| Total put/call ratio | 0.2 |
| Largest owners | Shares | Value |
|---|---|---|
| Horizon Kinetics Asset Management | 2.68 mm | $48.38 bn |
| Valueworks | 804.96 k | $14.51 mm |
| Beddow Capital Management | 438.38 k | $7.90 mm |
| Mad River Investors | 282.43 k | $5.09 mm |
| MS Morgan Stanley | 167.91 k | $3.03 bn |
| Moors & Cabot | 125.55 k | $2.26 bn |
| BAC Bank Of America | 44.62 k | $803.96 mm |
| Citadel Advisors | 36.71 k | $661.55 mm |
| One Charles Private Wealth Services | 34.00 k | $612.64 mm |
| Millennium Management | 27.05 k | $487.00 k |