| | Business Summary | | Great
Northern
Iron
Ore
Properties
owns
interests
in
fee,
mineral
and
non-mineral
lands
on
the
Mesabi
Iron
Range
of
Minnesota.
Income
is
derived
through
royalties
on
iron
ore
minerals
(principally
taconite)
taken
from
these
properties
by
lessees.
The
Company
is
involved
solely
with
the
leasing
and
care
of
these
properties.
Essential
to
the
Company's
business
are
the
minerals
contained
in
the
properties
it
owns
and
leases.
Since
the
Company
leases
its
properties
to
mining
interests,
which
control
the
amount
of
ore
production,
the
Company
itself
has
no
direct
control
over
the
tonnage
mined
from
its
properties,
but
is
solely
involved
with
administering
the
leases
on
the
properties.
Since
operating
companies
insist
on
freedom
to
move
from
property
to
property
as
mining
requirements
dictate,
such
changes
in
production
cannot
be
precisely
reduced
to
financial
forecasts. | | More
from
Market Guide: Expanded
Business Description |
| | Financial Summary | | Great
Northern
Iron
Ore
owns
in
fee,
12,033
acres
of
mineral
and
non-mineral
lands
on
the
Mesabi
Iron
Range
of
Northern
Minnesota.
For
the
six
months
ended
6/30/01,
total
revenues
increased
33%
to
$5.4
million.
Net
income
increased
38%
to
$4.5
million.
Revenues
reflect
increased
royalty
income
due
to
greater
taconite
tonnage
mined
from
properties.
Net
income
also
reflects
decreased
costs
and
expenses
as
a
percentage
of
revenues. | | More
from
Market Guide: Significant
Developments |
| | Officers | | | FY2000 Pay | |
| Joseph Micallef, 67
Pres,
CEO | $125K | Thomas Janochoski, 42
CFO,
VP, Sec. | -- | | Dollar amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors:
Expanded
List, Bios,
Compensation,
Options
|
|
![[one-year price graph]](http://chart.yahoo.com/c/0b/g/gni.gif)