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Mesabi Trust Message Board

  • ncgo4 ncgo4 Jul 16, 2009 6:16 PM Flag


    Last year earnings were released on July 18, a Friday. The year before it was July 13, a Friday. One might be led to expect earnings to come out tomorrow or Friday. Ya think?

    It really will all depend on adjustments for prior periods and I don't know anyone who can figure this out in advance. If it's like last quarter there could be another distribution of $.25 - $.35, or so. If so the share price should stay about the same.

    I expect, however, the adjustment will be negative because of the downward price adjustments we've been reading about. If so this, may be one of those rare quarters where the distribution from Cleveland Cliffs is negative.

    Remember that MSB retains between $650,000 and $1 million of cash for just such a contingency. If so, the market reaction over the next 60 days could be pretty negative. Shares could become pretty attractive again.

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