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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Revenue (Details)
3 Months Ended 6 Months Ended 12 Months Ended
Jul. 31, 2024
USD ($)
shares
Jul. 31, 2023
USD ($)
shares
Jul. 31, 2024
USD ($)
contract
MT
$ / T
shares
Jul. 31, 2023
USD ($)
shares
Jan. 31, 2024
USD ($)
$ / T
Jan. 31, 2023
$ / T
Disaggregation of Revenue [Line Items]            
Number of units outstanding | shares 13,120,010 13,120,010 13,120,010 13,120,010    
Revenue from Contract with Customer [Abstract]            
Royalty income (loss) $ 6,254,719 $ 9,730,596 $ 12,265,326 $ 11,441,912    
Base overriding royalties, first tier portion percentage     90.00%      
Base overriding royalties, first tier shipment ceiling (in million tons) | MT     4      
Base overriding royalties, second tier portion percentage     85.00%      
Base overriding royalties, second tier shipment ceiling (in million tons) | MT     2      
Base overriding royalties, third tier portion percentage     25.00%      
Base overriding royalties, third tier shipment threshold (in million tons) | MT     6      
Bonus royalty percentage     0.50%      
Bonus royalty, gross proceeds percentage     3.00%      
Royalty bonuses, price above adjusted threshold price per ton | $ / T     2.00      
Adjusted threshold price (in dollars per ton) | $ / T         67.75 66.00
Percentage of fee interest owned by Mesabi Land Trust in the lands subject to the Peters Lease     20.00%      
Accrued income receivable 2,584,690   $ 2,584,690   $ 1,960,358  
Number of customer contracts | contract     1      
Net contract asset 1,740,232   $ 1,740,232   451,896  
Contract asset 1,740,232   1,740,232   451,896  
Contract liability 0   $ 0   $ 0  
Minimum            
Revenue from Contract with Customer [Abstract]            
Bonus royalty, gross proceeds percentage     1.00%      
Royalty bonuses, adjusted threshold price | $ / T     10.00      
First Million Tons Shipped or Deemed Shipped [Member]            
Revenue from Contract with Customer [Abstract]            
Royalty earned on tons shipped or deemed shipped, percentage     2.50%      
Second Million Tons Shipped or Deemed Shipped [Member]            
Revenue from Contract with Customer [Abstract]            
Royalty earned on tons shipped or deemed shipped, percentage     3.50%      
Third Million Tons Shipped or Deemed Shipped [Member]            
Revenue from Contract with Customer [Abstract]            
Royalty earned on tons shipped or deemed shipped, percentage     5.00%      
Fourth Million Tons Shipped or Deemed Shipped [Member            
Revenue from Contract with Customer [Abstract]            
Royalty earned on tons shipped or deemed shipped, percentage     5.50%      
Beyond Four Million Tons Shipped or Deemed Shipped [Member]            
Revenue from Contract with Customer [Abstract]            
Royalty earned on tons shipped or deemed shipped, percentage     6.00%      
Base Overriding Royalties            
Revenue from Contract with Customer [Abstract]            
Royalty income (loss) 3,564,067 5,373,668 $ 6,981,711 6,335,466    
Bonus Royalties            
Revenue from Contract with Customer [Abstract]            
Royalty income (loss) 2,546,664 4,090,094 4,996,797 4,797,934    
Fee Royalties            
Revenue from Contract with Customer [Abstract]            
Royalty income (loss) $ 143,988 $ 266,834 $ 286,818 $ 308,512