Great Northern Iron Ore Properties (NYSE:GNI)

Madeline: I'm sorry, who are you again?
Fletch: I'm Frieda's boss.
Madeline: Who's Frieda?
Fletch: My secretary.

Trust has less than three years to go before dissolving, paying $14 per year in distributions. $15 per year was the best year ever for the stock. You can do the math - that adds up to a lot less than $75.

Only one way to go for this trust and it is down.

RoE

Magic Formula 11-29-12

This is going out of business.

Yet another swing trade that Great Northern Iron Ore Properties is well ahead of reality. I do think I might be early and that it could hit the low $80's before the next dividend, which is generally the "biggest" of the year as it represents the best mining "weather" and as the general commodity trend has been improving.

Overall, as discussed many times, those diving in for the apparent "lucrative" dividend need to research trusts with finite lives. This trust has about three years left last time I checked and even at a maximum dividend payout will not return even half of the current share price back to investors. Currently this is swinging up pre-dividend as some knowingly risk getting left as a bagholder to draw another dividend and then unload the shares. This will collapse in the next few quarters.

all the way to ZERO

Not clear how they will recover.

This stock is a death trap. From Rueters:

"Great Northern Iron Ore Properties (Trust or GNIOP) will cease to be a going concern and all shares will be cancelled, on April 6, 2015. According to the terms of the Great Northern Iron Ore Properties Trust Agreement, created on December 7, 1906, the Trust terminates 20 years from April 6, 1995, that being April 6, 2015. On April 6, 2015, GNIOP, by its terms, will dissolve, and all of its trusts will be terminated and shares will be cancelled. At the end of the Trust on April 6, 2015, the certificates of beneficial interest (shares) in the Trust will cease to trade on the New York Stock Exchange."

The total value of dividend payments and residual value is about $60-80. You were warned!

expires 2015

Trying to pick up some free points due to inevitable decline.

It dissolves in 2years

magic formula

This royalty trust is ending its operation in 5 years.

Short Watchlist - part of the terminal trust triumvirate with WHX and BPT. Will try to short in RL if it gets back to $135-140. Anyone shorting these or selling puts in RL?

I missed CAPS-shorting this one at over $130, but it looks like I am getting a decent chance here. Rising iron prices could hike the dividend to make this less profitable, but that would be a pretty rosy picture.

The company goes out of existence in 2015; how could it not under perform the market. Even if the dividend stream continues this is a losing investment.

The Mining industry supposed to grow 22% from 2006 to 2016