3. Mesabi Trust (MSB) is a grantor, deriving income from royalties from the production of iron ore at Minnesota mining properties. The Agreement of Trust has a duration ending 21 years after the death of the last survivor of 25 individuals living at inception of the Trust, all of whom were alive several years ago when the matter was investigated. Mesabi offers a yield of 8.9%. It has a three-year distribution growth rate of 31% and a five-year growth rate of 14%. It has more than tripled in 2010 on commodity optimism. Investors should investigate further.
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