Cleveland Cliffs Inc (CLF)

[chmcnfunds]

Time wise it is after, but not sure of the explanation. The most reasonable I see is this:

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Higher ore demand fuels Mesabi Trust's financials
Dec 12, 2017 Updated 4 hrs ago

Revenues and net income climbed substantially for the quarter and fiscal year-to-date for Mesabi Trust, according to its third quarter report.

Revenue was $12.2 million for the quarter and $29.2 million for the year compared with $3.4 million and $6.0 million for the same 2016 periods.

North Shore Mining extracts the ore and pays a royalty to the Mesabi Trust. The primary reason for higher sales and profits was an industry rebound, with pellet production increasing by about 1.2 million tons in 2017 versus the nine-month period a year earlier.

The increase in total royalty income was due to the increase in shipments during the fiscal quarter ended Oct. 31, 2017, as compared with the fiscal quarter ended Oct. 31, 2016, Mesabi Trust said.

Mesabi’s trustees previously declared a distribution of 64 cents per unit payable on Nov. 20 to unitholders of record at the close of business on Oct. 30.
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