ROYALTY AGREEMENT, UNALLOCATED RESERVE AND DISTRIBUTIONS (Tables)

6 Months Ended

Jul. 31, 2016

ROYALTY AGREEMENT, UNALLOCATED RESERVE AND DISTRIBUTIONS

Schedule of unallocated cash and U.S. Government securities portion of the Trust's Unallocated Reserve

As of July 31, 2016 and January 31, 2016, the unallocated cash and U.S. Government securities portion of the Trust’s Unallocated Reserve was comprised of the following components:

	July 31, 2016 (unaudited)			January 31, 2016
Cash and U.S. Government securities	$	6,817,915		$	8,783,882
Distribution payable	(2,624,002		)	(656,001		)
Unallocated cash and U.S. Government securities	$	4,193,913		$	8,127,881

Schedule of reconciliation of Trust's Unallocated Reserve

A reconciliation of the Trust’s Unallocated Reserve from January 31, 2016 to July 31, 2016 is as follows:

Unallocated Reserve, January 31, 2016	$	8,989,164
Net income, six months ended July 31, 2016	1,989,995
Distributions declared	(5,248,004		)
Unallocated Reserve, July 31, 2016	$	5,731,155