Mesabi Trust swung to a net loss of USD 95,013 for the quarter ended July 31, 2026, from net income a year earlier.
Revenue dropped 55.75% to USD 2.48 million.
Royalty income fell 42.99% to USD 2.33 million, attributed to no bonus royalties versus USD 2.02 million previously.
Expenses climbed to USD 2.58 million, driven by higher legal fees and costs tied to the pending AAA arbitration.
Distributions declared dropped to USD 0.05 per unit, from USD 0.12 per unit in the prior-year quarter.
Cliffs’ quarterly report credited USD 1.59 million in base royalties for the June quarter, with no bonus royalties; total cash royalties received were USD 1.81 million.
MSB•
