10-K Filing

MESABI TRUST CIK: 65172 FY 2011

Filing Information

Form Type	10-K
Accession Number	`0001104659-12-025296`
Period End Date	20120131
Filing Date	20120413
Fiscal Year	2011
Fiscal Period	FY
XBRL Instance	msb-20120131.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 36 Income Statement 51 Cash Flow Statement 55 Stockholders Equity 18

Balance Sheet 36 line items

Line Item	Tag	Value	Unit	Period
Certificate of beneficial interest of Land Trust, units	`CertificateOfBeneficialInterestUnits`	13.12M	shares	Point-in-time
Certificate of beneficial interest of Land Trust, units	`CertificateOfBeneficialInterestUnits`	13.12M	shares	Point-in-time
CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsAtCarryingValue`	$10.25M	USD	Point-in-time
CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsAtCarryingValue`	$8.44M	USD	Point-in-time
CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsAtCarryingValue`	$2.25M	USD	Point-in-time
CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsAtCarryingValue`	$8.69M	USD	Point-in-time
U.S. GOVERNMENT SECURITIES, at amortized cost (which approximates market)	`USGovernmentSecuritiesAtCarryingValue`	$668.89K	USD	Point-in-time
ACCRUED INCOME RECEIVABLE	`AccruedIncomeReceivable`	$387.98K	USD	Point-in-time
ACCRUED INCOME RECEIVABLE	`AccruedIncomeReceivable`	$232.79K	USD	Point-in-time
PREPAID EXPENSE	`PrepaidExpenseCurrent`	$50.21K	USD	Point-in-time
PREPAID EXPENSE	`PrepaidExpenseCurrent`	$53.77K	USD	Point-in-time
CURRENT ASSETS	`AssetsCurrent`	$10.70M	USD	Point-in-time
CURRENT ASSETS	`AssetsCurrent`	$9.65M	USD	Point-in-time
U.S. GOVERNMENT SECURITIES, at amortized cost (which approximates market)	`USGovernmentSecuritiesAtCarryingValueNoncurrent`	$473.82K	USD	Point-in-time
Amended assignment of Peters Lease	`AmendedAssignmentsOfLeaseProperty`	$1.00	USD	Point-in-time
Amended assignment of Peters Lease	`AmendedAssignmentsOfLeaseProperty`	$1.00	USD	Point-in-time
Assignment of Cloquet Leases	`AssignmentsOfLeasedProperty`	$1.00	USD	Point-in-time
Assignment of Cloquet Leases	`AssignmentsOfLeasedProperty`	$1.00	USD	Point-in-time
Certificate of beneficial interest for 13,120,010 units of Land Trust	`CertificateOfBeneficialInterestLandTrust`	$1.00	USD	Point-in-time
Certificate of beneficial interest for 13,120,010 units of Land Trust	`CertificateOfBeneficialInterestLandTrust`	$1.00	USD	Point-in-time
TOTAL FIXED PROPERTY, including intangibles, at nominal values	`FixedPropertyIncludingIntagible`	$3.00	USD	Point-in-time
TOTAL FIXED PROPERTY, including intangibles, at nominal values	`FixedPropertyIncludingIntagible`	$3.00	USD	Point-in-time
TOTAL ASSETS	`Assets`	$11.17M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$9.65M	USD	Point-in-time
DISTRIBUTION PAYABLE	`InterestAndDividendsPayableCurrent`	$9.97M	USD	Point-in-time
DISTRIBUTION PAYABLE	`InterestAndDividendsPayableCurrent`	$8.53M	USD	Point-in-time
ACCRUED EXPENSES	`AccruedLiabilitiesCurrentAndNoncurrent`	$129.76K	USD	Point-in-time
ACCRUED EXPENSES	`AccruedLiabilitiesCurrentAndNoncurrent`	$166.32K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$10.14M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$8.66M	USD	Point-in-time
UNALLOCATED RESERVE	`UnallocatedReserve`	$1.03M	USD	Point-in-time
UNALLOCATED RESERVE	`UnallocatedReserve`	$987.80K	USD	Point-in-time
TRUST CORPUS	`CapitalUnits`	$3.00	USD	Point-in-time
TRUST CORPUS	`CapitalUnits`	$3.00	USD	Point-in-time
TOTAL LIABILITIES, UNALLOCATED RESERVE, AND TRUST CORPUS	`LiabilitiesAndStockholdersEquity`	$11.17M	USD	Point-in-time
TOTAL LIABILITIES, UNALLOCATED RESERVE, AND TRUST CORPUS	`LiabilitiesAndStockholdersEquity`	$9.65M	USD	Point-in-time

Income Statement 51 line items

Line Item	Tag	Value	Unit	Period
Royalties under amended lease agreements	`RoyaltiesUnderAmendedLeaseAgreements`	$12.92M	USD	Annual
Royalties under amended lease agreements	`RoyaltiesUnderAmendedLeaseAgreements`	$33.47M	USD	Annual
Royalties under amended lease agreements	`RoyaltiesUnderAmendedLeaseAgreements`	$32.75M	USD	Annual
Royalties under Peters Lease fee	`RoyaltiesUnderPetersLeaseFee`	$305.41K	USD	Annual
Royalties under Peters Lease fee	`RoyaltiesUnderPetersLeaseFee`	$687.03K	USD	Annual
Royalties under Peters Lease fee	`RoyaltiesUnderPetersLeaseFee`	$576.43K	USD	Annual
Interest	`InterestIncomeSecuritiesUSTreasuryAndOtherUSGovernment`	$14.23K	USD	Annual
Interest	`InterestIncomeSecuritiesUSTreasuryAndOtherUSGovernment`	$4.14K	USD	Annual
Interest	`InterestIncomeSecuritiesUSTreasuryAndOtherUSGovernment`	$11.93K	USD	Annual
Total revenues	`Revenues`	$33.34M	USD	Annual
Total revenues	`Revenues`	$34.16M	USD	Annual
Total revenues	`Revenues`	$13.24M	USD	Annual
Compensation of Trustees	`CompensationOfTrustees`	$178.58K	USD	Annual
Compensation of Trustees	`CompensationOfTrustees`	$230.61K	USD	Annual
Compensation of Trustees	`CompensationOfTrustees`	$223.81K	USD	Annual
Corporate Trustee's administrative fees	`TrusteeFees`	$62.50K	USD	Annual
Corporate Trustee's administrative fees	`TrusteeFees`	$62.50K	USD	Annual
Corporate Trustee's administrative fees	`TrusteeFees`	$62.50K	USD	Annual
Legal	`LegalFees`	$238.02K	USD	Annual
Legal	`LegalFees`	$224.80K	USD	Annual
Legal	`LegalFees`	$272.93K	USD	Annual
Accounting	`AccountingExpense`	$125.01K	USD	Annual
Accounting	`AccountingExpense`	$127.32K	USD	Annual
Accounting	`AccountingExpense`	$127.48K	USD	Annual
Mining consultant and field representatives	`MiningConsultantAndFieldRepresentativesExpense`	$22.91K	USD	Annual
Mining consultant and field representatives	`MiningConsultantAndFieldRepresentativesExpense`	$23.51K	USD	Annual
Mining consultant and field representatives	`MiningConsultantAndFieldRepresentativesExpense`	$24.95K	USD	Annual
Insurance	`DirectorsAndOfficersLiabilityInsuranceExpense`	$66.49K	USD	Annual
Insurance	`DirectorsAndOfficersLiabilityInsuranceExpense`	$69.41K	USD	Annual
Insurance	`DirectorsAndOfficersLiabilityInsuranceExpense`	$113.95K	USD	Annual
Annual stock exchange fee	`AnnualStockExchangeFee`	$38.00K	USD	Annual
Annual stock exchange fee	`AnnualStockExchangeFee`	$38.00K	USD	Annual
Annual stock exchange fee	`AnnualStockExchangeFee`	$38.00K	USD	Annual
Transfer agent's and registrar's fees	`TransferAgentAndRegistrarFees`	$11.80K	USD	Annual
Transfer agent's and registrar's fees	`TransferAgentAndRegistrarFees`	$9.97K	USD	Annual
Transfer agent's and registrar's fees	`TransferAgentAndRegistrarFees`	$6.60K	USD	Annual
Other Trust expenses	`OtherExpenses`	$89.75K	USD	Annual
Other Trust expenses	`OtherExpenses`	$84.14K	USD	Annual
Other Trust expenses	`OtherExpenses`	$44.13K	USD	Annual
Total expenses	`GeneralAndAdministrativeExpense`	$920.99K	USD	Annual
Total expenses	`GeneralAndAdministrativeExpense`	$818.01K	USD	Annual
Total expenses	`GeneralAndAdministrativeExpense`	$878.68K	USD	Annual
NET INCOME	`NetIncomeLoss`	$12.42M	USD	Annual
NET INCOME	`NetIncomeLoss`	$33.24M	USD	Annual
NET INCOME	`NetIncomeLoss`	$32.46M	USD	Annual
WEIGHTED AVERAGE NUMBER OF UNITS OUTSTANDING (in units)	`WeightedAverageNumberOfUnitsOutstanding`	13.12M	shares	Annual
WEIGHTED AVERAGE NUMBER OF UNITS OUTSTANDING (in units)	`WeightedAverageNumberOfUnitsOutstanding`	13.12M	shares	Annual
WEIGHTED AVERAGE NUMBER OF UNITS OUTSTANDING (in units)	`WeightedAverageNumberOfUnitsOutstanding`	13.12M	shares	Annual
NET INCOME PER UNIT (in dollars per unit)	`EarningsPerShareBasic`	$0.95	USD	Annual
NET INCOME PER UNIT (in dollars per unit)	`EarningsPerShareBasic`	$2.53	USD	Annual
NET INCOME PER UNIT (in dollars per unit)	`EarningsPerShareBasic`	$2.47	USD	Annual

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Royalties received	`ProceedsFromRoyaltiesReceived`	$31.20M	USD	Annual
Royalties received	`ProceedsFromRoyaltiesReceived`	$17.84M	USD	Annual
Royalties received	`ProceedsFromRoyaltiesReceived`	$34.00M	USD	Annual
Interest received	`InterestReceivedGovernmentSecurities`	$17.03K	USD	Annual
Interest received	`InterestReceivedGovernmentSecurities`	$17.90K	USD	Annual
Interest received	`InterestReceivedGovernmentSecurities`	$5.41K	USD	Annual
Expenses paid	`PaymentsForOperatingActivities`	$854.43K	USD	Annual
Expenses paid	`PaymentsForOperatingActivities`	$888.00K	USD	Annual
Expenses paid	`PaymentsForOperatingActivities`	$843.82K	USD	Annual
NET CASH FROM OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$30.36M	USD	Annual
NET CASH FROM OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$33.12M	USD	Annual
NET CASH FROM OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$17.02M	USD	Annual
Maturities of U.S. Government securities	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$2.18M	USD	Annual
Maturities of U.S. Government securities	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$329.00K	USD	Annual
Maturities of U.S. Government securities	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$767.40K	USD	Annual
Purchases of U.S. Government securities	`PaymentsToAcquireHeldToMaturitySecurities`	$1.84M	USD	Annual
Purchases of U.S. Government securities	`PaymentsToAcquireHeldToMaturitySecurities`	$998.37K	USD	Annual
Purchases of U.S. Government securities	`PaymentsToAcquireHeldToMaturitySecurities`	$572.33K	USD	Annual
NET CASH FROM (USED FOR) INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$1.18M	USD	Annual
NET CASH FROM (USED FOR) INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.51M	USD	Annual
NET CASH FROM (USED FOR) INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$195.07K	USD	Annual
Distributions to unitholders	`PaymentsOfDistributionsToUnitholders`	$31.29M	USD	Annual
Distributions to unitholders	`PaymentsOfDistributionsToUnitholders`	$9.32M	USD	Annual
Distributions to unitholders	`PaymentsOfDistributionsToUnitholders`	$31.75M	USD	Annual
NET CHANGE IN CASH AND CASH EQUIVALENTS	`NetCashProvidedByUsedInContinuingOperations`	$248.99K	USD	Annual
NET CHANGE IN CASH AND CASH EQUIVALENTS	`NetCashProvidedByUsedInContinuingOperations`	$1.56M	USD	Annual
NET CHANGE IN CASH AND CASH EQUIVALENTS	`NetCashProvidedByUsedInContinuingOperations`	$6.19M	USD	Annual
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$10.25M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$8.44M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$2.25M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$8.69M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$10.25M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$8.44M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$2.25M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$8.69M	USD	Point-in-time
Net income	`NetIncomeLoss`	$12.42M	USD	Annual
Net income	`NetIncomeLoss`	$33.24M	USD	Annual
Net income	`NetIncomeLoss`	$32.46M	USD	Annual
Decrease (increase) in accrued income receivable	`IncreaseDecreaseInAccruedInvestmentIncomeReceivable`	$155.19K	USD	Annual
Decrease (increase) in accrued income receivable	`IncreaseDecreaseInAccruedInvestmentIncomeReceivable`	$-1.85M	USD	Annual
Decrease (increase) in accrued income receivable	`IncreaseDecreaseInAccruedInvestmentIncomeReceivable`	$-641.15K	USD	Annual
Decrease (increase) in prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$19.79K	USD	Annual
Decrease (increase) in prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$3.56K	USD	Annual
Decrease (increase) in prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$-1.00	USD	Annual
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$44.03K	USD	Annual
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-25.81K	USD	Annual
Increase (decrease) in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$36.56K	USD	Annual
(Decrease) increase in deferred royalty revenue	`IncreaseDecreaseInDeferredRevenue`	$-2.77M	USD	Annual
(Decrease) increase in deferred royalty revenue	`IncreaseDecreaseInDeferredRevenue`	$2.77M	USD	Annual
NET CASH FROM OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$30.36M	USD	Annual
NET CASH FROM OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$33.12M	USD	Annual
NET CASH FROM OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$17.02M	USD	Annual
Distributions declared	`DistributionsDeclared`	$7.22M	USD	Annual
Distributions declared	`DistributionsDeclared`	$9.97M	USD	Annual
Distributions declared	`DistributionsDeclared`	$8.53M	USD	Annual

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Distribution paid (in dollars per unit)	`DistributionPaidPerUnit`	$1.12	USD	1 Quarter
Distribution paid (in dollars per unit)	`DistributionPaidPerUnit`	$0.12	USD	1 Quarter
Distribution paid (in dollars per unit)	`DistributionPaidPerUnit`	$0.60	USD	1 Quarter
Distribution paid (in dollars per unit)	`DistributionPaidPerUnit`	$0.38	USD	1 Quarter
Distribution paid (in dollars per unit)	`DistributionPaidPerUnit`	$0.80	USD	1 Quarter
Distribution paid (in dollars per unit)	`DistributionPaidPerUnit`	$0.91	USD	1 Quarter
Distribution paid (in dollars per unit)	`DistributionPaidPerUnit`	$0.22	USD	1 Quarter
Distribution paid (in dollars per unit)	`DistributionPaidPerUnit`	$0.05	USD	1 Quarter
Distributions declared (in dollars per unit)	`DistributionDeclaredPerUnit`	$0.55	USD	1 Quarter
Distributions declared (in dollars per unit)	`DistributionDeclaredPerUnit`	$0.65	USD	1 Quarter
Distributions declared (in dollars per unit)	`DistributionDeclaredPerUnit`	$0.76	USD	1 Quarter
BALANCE	`CapitalUnits`	$3.00	USD	Point-in-time
BALANCE	`CapitalUnits`	$3.00	USD	Point-in-time
Net income	`NetIncomeLoss`	$12.42M	USD	Annual
Net income	`NetIncomeLoss`	$33.24M	USD	Annual
Net income	`NetIncomeLoss`	$32.46M	USD	Annual
BALANCE	`CapitalUnits`	$3.00	USD	Point-in-time
BALANCE	`CapitalUnits`	$3.00	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.