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Subsequent Event
3 Months Ended
Jun. 30, 2023
Subsequent Events [Abstract]  
Subsequent Event

(12) Subsequent Event.

 

In the ordinary course of business, the Company’s mining tenants make estimated royalty payments and conduct an annual volumetric analysis to reconcile the actual amounts due. This process is complicated, especially when the mining tenant is simultaneously mining separate tracts with different owners. On August 8, 2023, the Company received correspondence from one of its mining tenants asserting that the tenant had overpaid royalties by approximately $840,000. The Company is reviewing this analysis to make its own determination as to the amount of the royalties. Depending on the outcome of that analysis, the Company expects to enter into a separate agreement or negotiate an amendment to the mining lease regarding the issue. The Company cannot be certain as to the outcome of its separate analysis or such negotiations.