leadon's Blog : Mesabi or no Mesabi?

I bought, a year ago, saying "What's not to like about a 13% ballast stock yield in a recovering iron and steel industry?"  Considering the yield received, though dwindling, it has been a good pick.

Today, I sell, saying "What's still to like about a big dividend gone south as the iron and steel industry seems at risk of slowing with theapparent continuing economic malaise?"

I am also concerned - Cliff's past two quarterly reports indicate increasing ore production, sales, and pricing, yet Mesabi's reports suggest that isn't coming from the Mesabi Range, given lower production, royalties, and distributions.

I post seeking input from fellow players -  I have no expertise in evaluating the iron industry.  Pure conjecture by me, so what do you think?   Could it be that the Mesabi Range is no longer as desirable for the operators to produce, or am I perhaps stepping away at the wrong time, given that royalties, and thus dividends, seem higher in 3rd and 4th quarters in past years? Qualifier.  From actual portfolio, I also sold Vale - didn't care for the changing poltics down the way where the lights are gay - and I continue to hold Cliffs here in the good ole USA.

Leadon