Mesabi Trust (NYSE:MSB) -4.9% premarket after announcing that no distribution will be paid in November due to a delay in the reporting of Cliffs Natural Resources (NYSE:CLF) regarding shipments of iron ore products from Silver Bay, Minn.
MSB says it was unable to consider the declaration of a distribution using anticipated royalty revenues earned during the quarter ended Sept. 30.
MSB derives income from the Peter Mitchell Mine, which is operated by CLF's Northshore Mining subsidiary.
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