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Newport Exploration Ltd NWXPF


Primary Symbol: V.NWX

Newport Exploration Ltd. is a Canada-based company, which has royalty interests in producing oil and gas permits in the Cooper Basin, Australia, and a mining project in British Columbia, Canada. The Company holds a 2.5% gross overriding royalty (GOR) on several permits in Australia. These include permits being operated and explored by Beach Energy Ltd. (Beach) and Santos Ltd. (Santos), both Australian oil and gas producers. The Cooper Basin is an onshore oil and gas development area. The Company’s Chu Chua is located approximately 30 kilometers (km) north of Kamloops, British Columbia, with access and infrastructure. The deposit is a Cyprus-type volcanogenic massive sulfide body hosted in two steeply dipping lenses of massive pyrite-chalcopyrite and magnetite up to 40 meters (m) thick, with a strike length of 400 m and a known depth of 250 m.


TSXV:NWX - Post by User

Comment by jsnfernleyon May 10, 2021 5:56pm
95 Views
Post# 33170331

RE:RE:RE:RE:RE:New Share Holder

RE:RE:RE:RE:RE:New Share HolderYou did not state you read the FS's, you stated "from what I read."  You could have been quoting from a shameless pumper from another forum, there was no way to tell.

Chu Chua has been written off and the company has stated that they have no plans for further exploration.  It was probably not large enough to support anything other than a satellite operatiojn to a real mine.  Further, it was a related party transaction made because the exchange told them to get a project or they will be delisted.

The O&G royalties are not multi-national.

Expenses are light?  For cashing 4 checks a year?  They even paid bonuses in the quarter ended 1/31/21.  I would suggest you have another look at the Related Party section of the FS's, and the last audited FS's.
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