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and another leap...
a couple...
Another stair step
Plodding along - love this play
still holding its own..rising with the tides...
looking for this to breakout again soon
Remember our fallen heros....And the soldier who still serve.
Thank You!
setting up for the next move...I hope
Almost made it today, just smaller stairs :)
this one will be in the 20s again soon
MSB still fighting back
Climbing the stairs back up
MSB fighting back
looking for the bounce
Monday is supposed to be reporting day...definitely some "inside" like dumping going on...or just the uncertainty of monday was excuse enough for profit takers to shave...it has been of a hell of a run
Still creeping up
The stock is due for some consolidation just based on technicals...it has run hot for months...But given the need for what the trust property resides iver I hope no major pull back is forth coming...Just an opportunity for sideliners to pounce...
Need to be sure of what time period that they are reporting for.
Would the ice be forming or melting this time of year? Seems like the worst frozen tundra period was pretty darned good...I mean if one looked at the chart as compared to seasonal tempatures...
Sure looks like it.
Not wanting to throw water on the fire this is generally their down quarter
due to ice on the lakes.. Just thinking out loud...
B;ack Candle Looming...c
Lots of resistance at 24...damit...
This is a good pace setter for mining plays...trust just keeps on ticking
Nice uptrend going on here.............
New 'cutting edge' plant soon to open on Iron Range
By Peter Passi
Duluth News Tribune
Updated: 09/27/2009 11:24:29 PM CDT
The sea of vehicles crowding the approach to Mesabi Nugget bespeaks the project's scale.
Somewhere between 600 and 700 contractors are on the job most days, working to launch the Iron Range's newest taconite processor.
At the peak of activity, about a month ago, upward of 800 trades workers were building the $270 million plant that will transform taconite into pig iron.
At the site north of Aurora, seven massive cranes swivel and swoop, delivering steel components to scurrying workers. Skid loaders, mobile booms, delivery trucks and all manner of construction machines weave through the scene, as though performing an intricately choreographed dance.
The rising plant and swarm of workers go unnoticed by most motorists whizzing past on Minnesota 135.
"Our project is kind of tucked back in a corner of the woods, and when people actually come out and see it, they almost always say, 'Holy smokes!' " remarked Dave Bednarz, vice president of iron resources for Steel Dynamics Inc., which is developing the plant in conjunction with Kobe Steel.
Construction began in 2007 and has not stopped despite a bruising economic downturn that has curbed taconite production throughout the region.
Staying the course has not been easy, Bednarz said. "We never stopped ... but for a couple of months we did sort of take our foot off the gas a little bit," he said. "As a company, we had a responsibility to look at the amount of money we were spending here."
Steel Dynamics aimed to have Mesabi Nugget begin production by the third quarter of this year, but now Bednarz predicts a November or December startup.
Revised timeline or not, the project's continued progress in the face of eroding domestic steel production and waning prices made a distinct impression on Peter Kakela, a professor at Michigan State University and a respected monitor of the taconite industry.
"I view it as a real positive sign that the work at Mesabi Nugget has been going ahead despite what the mining industry has gone through these past six months," he said. "Steel Dynamics has been the driving force, and it showed they still have a lot of confidence in the future."
Frank Bailey, a foreman for Jamar Co. and a member of Plumbers and Pipefitters Local 589 in Hibbing, credits the construction of Mesabi Nugget, combined with the revamping of Minnesota Power's Boswell Energy Center in Cohasset, for keeping him employed.
"If we didn't have this project, about 50 percent of our local would probably be unemployed," he said.
Bailey said there has been enough work even to draw distant trades workers into northern Minnesota, as most other locals elsewhere in the state are scratching for work.
The construction jobs will disappear when the plant is completed, but Mesabi Nugget is expected to employ about 65 people. The plant is designed so it could eventually triple in size, if demand warrants. In its initial configuration, Mesabi Nugget should be able to produce 500,000 metric tons of pig iron annually.
Many of Mesabi Nugget's key future operators have been involved in designing and building the facility, including plant manager Jeff Hansen, who has been shepherding the project for more than eight years. Other members of his future operations team also have been on the job for months, if not years, and Hansen expects to reap the benefits.
"When we have a problem on a Saturday night, we'll have people involved who know every bolt and valve in the place and who will know how to fix things. That's invaluable," he said.
Mesabi Nugget will operate the world's largest rotary-hearth furnace. It's 60 meters in diameter — roughly two-thirds the length of a football field.
"This project has the potential to change the way iron mining takes place," Bednarz said, noting the plant is "on the cutting edge of technology."
The plant will produce nuggets with an iron content of about 97 percent. Conventional taconite plants typically produce pellets with an iron content of about 65 percent.
Steel Dynamics plans to use Mesabi Nugget's output to feed its electric arc minimills and produce flat-rolled steel. This will open a new market for Minnesota taconite mines, which have traditionally sold pellets to integrated steel producers operating large blast furnaces.
Bednarz said Mesabi Nugget will perform the same job that it now takes a pellet, sinter and coke plant plus a blast furnace to accomplish.
What's more, Steel Dynamics said Mesabi Nugget is expected to use 30 percent less energy than an integrated steelmaker would consume to make the same quantity of product. Another advantage is that the process is projected to reduce emissions of carbon dioxide and pollutants by about 40 percent, compared with traditional methods.
Mesabi Nugget plans to eventually mine its own taconite, but until then the company will buy concentrate from other producers on the Range.
"I do feel it (Mesabi Nugget) is potentially a very important next step in iron mining," Kakela said, noting that the process should make for more efficient transport of iron from the Range.
Such industry innovation is nothing new, said Craig Pagel, president of the Iron Mining Association of Minnesota.
"Iron mining is often thought of as a mature industry, but the Mesabi Nugget project is yet another example of how the industry keeps reinventing itself," he said.
rebounding nicely from recent lows...
Cliffs production expectations at 17 million tons in 2009
By CHARLES RAMSAY
Regional Editor
Published: Saturday, September 12, 2009 12:11 AM CDT
CLEVELAND — Cliffs Natural Resources has ramped up its production and sales goals for 2009, following plans announced Sept. 2 to boost production at its United Taconite plant on the Range.
Cliffs said Friday in a statement that it expects to make a production level of 17 million tons for the year, up from a previous goal set at 15 million tons. Cliffs Vice President Steve Baisden had said in a Sept. 6 Mesabi Daily News story that their production volume was expected to be around 15 million tons.
Cliffs’ North American Business Unit, which consists of six iron ore mines it operates, including United Taconite, Hibbing Taconite and Northshore Mining in Northeastern Minnesota, is expected to reach 16 million long tons in sales volume in 2009, up from 13-14 million long tons previously expected in sales. Cliffs North American Business Unit President Don Gallagher noted that as customers are increasing steel production and restarting blast furnaces, “we are seeing modest improvements in orders and in market expectations for steelmaking raw materials. We will continue to monitor the markets closely to ensure we adjust production appropriately to meet demand as needed.”
Cliffs shut down one of the plants it operates on the Range from last fall on when the recent economic downturn started, and with all three shut down for maintenance or no demand at one point this spring.
Hibbing Taconite is expected to remain closed until the spring of 2010, while U-Tac is ramping up to full 40-hour weeks for its workers (who were on 32-hour schedules) and to both production lines. Northshore has been producing pellets since June.
Cliffs owns U-Tac and Northshore, while it operates Hibbing Taconite with part ownership with two other companies.
Taconite is lower-grade iron ore that is mined, crushed, concentrated and agglomerated into 60-65 percent iron pellets for shipment via the Great Lakes to blast furnaces in the Chicago and Cleveland areas for steelmaking.
I still may collect a few....should do well as market creeps up...the dividend news absorbed...
I did..........
2 buys at various $
Only 100 total.........nice core
Damit I took my eye off it for a second...did not take adv of the dip...
Well this explains it.............
Mesabi Trust Declares No Distribution
Friday 07/17/2009 5:01 PM ET - BusinessWire
The Trustees of Mesabi Trust (NYSE: MSB) have determined to not distribute any royalty income for the three months ended July 31, 2009. The decision to not pay a quarterly distribution is the result of a significant decrease in shipments of iron ore credited to the Trust during the second calendar quarter of 2009, combined with the extended shutdown of mining operations at Northshore Mining Company, the lessee/operator of Mesabi Trust lands ("Northshore"), which, as the Trust previously reported, extended from April 2009 through early July 2009. The entirety of the second quarter royalty payment, after the payment of the Trust's expenses, will be retained by the Trust and added to the Trust's unallocated reserve, which was ($392,377) as of April 30, 2009.
In making this decision, the Trustees considered the per-unit royalty income that would have been available for distribution to the Trust's Unitholders, as well as the need for the Trust to maintain adequate reserves to cover the Trust's present and future liabilities. As reflected on the Trust's unaudited balance sheet as of April 30, 2009, the Trust is carrying a $2.37 million deferred royalty revenue liability. See the discussion under the heading "Comparison of Unallocated Reserve as of April 30, 2009, April 30, 2008 and January 31, 2009," in the Trust's quarterly report on Form 10-Q for the three months ended April 30, 2009 for additional information.
Shipments credited to the Trust by Northshore during second calendar quarter of 2009 decreased approximately 88% to 309,895 tons, as compared to 2,494,369 tons during the second calendar quarter of 2008 when the Trust paid a distribution of $1.00 per Unit. The total royalty payment expected to be received by Mesabi Trust from Northshore is $853,016, before the payment of the Trust's expenses and allocation for reserves. The Trust's total royalty payment for the second quarter consists of a base royalty payment of $281,766 (which reflects the base royalty payment received after deducting the minimum base royalty payment of $202,044 which the Trust earned during the first calendar quarter of 2009). Mesabi Trust is also expecting to receive a bonus royalty in the amount of $545,224, based on the average sales price per ton of iron ore pellets and the volume of shipments during the second calendar quarter of 2009. Adjustments to first quarter base and bonus royalties of $26,026 have been added to the second quarter royalty payment. The net royalty income earned by the Trust, to be received on July 31, 2009, will be added to the Trust's Unallocated Reserve upon receipt, leaving no funds available for distribution to Unitholders.
With respect to the remainder of 2009, Northshore has not advised Mesabi Trust as to expected shipments of iron ore products or what percentage of such shipments will be from Mesabi Trust iron ore. Cleveland-Cliffs Inc ("CCI"), Northshore's parent, has previously reported that it estimates scheduled 2009 pellet production at Northshore (using iron ore mined from both Mesabi Trust lands and from other than Mesabi Trust lands) will be approximately 3.2 million tons. CCI has not provided Mesabi Trust with any projections about possible pricing (and resulting royalty) adjustments that might impact future distributions, although CCI did indicate that the royalty payments being reported today are based on estimated iron ore pellet prices under CCI Pellet Agreements, which are subject to adjustment.
Notwithstanding that production at Northshore has resumed as planned, the Trustees believe that decision to not distribute any royalty income for the second quarter of 2009 is necessary and prudent given the unpredictable nature of the current economic conditions, a possible prolonged global, national or regional economic recession, the possibility of future negative price adjustments under the long-term customer contracts between Northshore, CCI and certain customers (the "CCI Pellet Agreements"), and other unforeseeable events that could cause major changes in demand patterns. The foregoing factors may continue to have a material adverse effect on the volume of shipments and sales prices of iron ore products shipped by Northshore, thereby potentially significantly reducing future royalties received by the Trust.
The royalties paid to Mesabi Trust are based on the volume of shipments of iron ore pellets for the quarter and the year to date, the pricing of the iron ore product sales, and the percentage of iron ore pellet shipments from Mesabi Trust lands rather than from other lands. The volume of shipments of iron ore pellets by Northshore varies from quarter to quarter and year to year based on a number of factors, including the requested delivery schedules of customers, general economic conditions in the iron ore industry, and weather conditions on the Great Lakes. Further, the prices under the CCI Pellet Agreements are subject to interim and final pricing adjustments, dependent in part on multiple price and inflation index factors that are not known until after the end of a contract year. These adjustments can result in significant variations in royalties received by Mesabi Trust (and in turn the resulting amount available for distribution to Unitholders by Mesabi Trust) from quarter to quarter and on a comparative historical basis. These variations, which can be positive or negative, cannot be predicted by the Trustees of Mesabi Trust. Royalty payments received in 2007, 2008 and 2009 continue to reflect pricing estimates for shipments of iron ore products that may be subject to further adjustment (upward or downward) pursuant to the CCI Pellet Agreements. It is possible that future negative price adjustments could offset, or even eliminate, royalties or royalty income that would otherwise be payable to the Trust in any particular quarter, or at year end, thereby potentially reducing cash available for distribution to the Trust's Unitholders in future quarters.
This press release contains certain forward-looking statements with respect to iron ore pellet production, iron ore pricing and adjustments to pricing, shipments by Northshore in 2009, royalty (including bonus royalty) amounts, which statements are intended to be made under the safe harbor protections of the Private Securities Litigation Reform Act of 1995, as amended. Actual production, prices (and price adjustments) and shipments of iron ore pellets, as well as actual royalty levels (including bonus royalties) could differ materially from current expectations due to inherent risks such as general and industry economic trends, uncertainties arising from war, terrorist events and other global events, higher or lower customer demand for steel and iron ore, environmental compliance uncertainties, higher imports of steel and iron ore substitutes, processing difficulties, consolidation and restructuring in the domestic steel market, indexing features in Cliffs Pellet Agreements resulting in adjustments to royalties payable to the Trust and other factors. Further, substantial portions of royalties earned by Mesabi Trust are based on estimated prices that are subject to interim and final adjustments, which can be positive or negative, and are dependent in part on multiple price and inflation index factors under agreements to which the Trust is not a party and that are not known until after the end of a contract year. Although the Mesabi Trustees believe that any such forward-looking statements are based on reasonable assumptions, such statements are subject to risks and uncertainties, which could cause actual results to differ materially.
SOURCE: Mesabi Trust
And this also on Friday
Mesabi Trust Cites Decreased Iron Shipments, Extended Shutdown Of Northshore Ops
WOWSER...........
Mesabi Trust (MSB) Bearish Technical Alert - Trend Down 20.7%
57 minutes ago - Comtex Smartrend(r)
Related Companies
Symbol Last %Chg
MSB 8.35 -20.25%
As of 11:54 AM ET 7/20/09
Mesabi Trust (NYSE:MSB) is trading 21.2% lower (down $2.22 to $8.25) today on volume of 177,596 shares. The stock has traded within a 52-week range of $5.00 and $29.76.
Mesabi Trust is currently below its 50-day moving average of $11.10 and below its 200-day moving average of $9.98.
SmarTrend is bearish on shares of MSB and our subscribers received a Downtrend alert on June 17, 2009 at $10.41, which has returned 20.7% to date.
Write to Chip Brian at cbrian@tradethetrend.com
Sure has been quiet on here. Hope to see MSB head back up soon.
Tim
Wow.................
This was recently placed on my radar,and a good guy on ihub even talked nicely of this one.
Now just wished I had some coin to toss at this at these levels.
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