I received an email as well. What is bothersome is the way the MSB trustees see their duties to the trust. According to the bylaws, the trustee are allowed to monitor the tonnage and sale price at the port only. The trustees seems to repeat the data from CLF. The Q2 report did not report the average price per ton, just the tonnage and the total price. In back tracking the price per ton, I found that the price per ton for the "overriding" tonnage was different than the "Bonus" tonnage. How can that be? I believe the trustees are just pushing paper rather than controlling the interest of the trust and the units holders. I lessoned the interview of the CLF CEO. The North America mining pricing is study, the Australian mining cost is up. The problem is with MT, their stock is down by $20 in one month. MT been the largest client of CLF, is Q3 and Q4 in play for lesser tonnage?
At what point would there be enough people ready to start a professional investigation into the trustees relationship with CLF? At some point, if we believe we are being had, it may pay to force this issue. J Dude has done some yoeman's work as have others to get a responsible answer from the trustees. When does it become time to push the issues further? How much would it cost? Would others be willing to contribute?
Unfortunately no. The corporate sent me a brief e-mail stating that they would look into the matter and issue a press release if they found anything material. Unfortunately I haven't heard anything since then. Maybe it's time to send another e-mail.