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Newport Exploration Ltd V.NWX

Alternate Symbol(s):  NWXPF

Metals & Mining Industrial Metals & Minerals
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

Newport Exploration Ltd
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Post by Betteryear2on Sep 01, 2023 2:30pm
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Post# 35616506

NEWPORT RECEIVES AUD$1,279,749 (GROSS)/AUD$895,824 (NET)

NEWPORT RECEIVES AUD$1,279,749 (GROSS)/AUD$895,824 (NET)VANCOUVER, BC, Sept. 1, 2023 /CNW/ - Newport Exploration Ltd ("Newport" or "the Company") is pleased to report the receipt of its after tax 2.5% Gross Overriding Royalty ("GOR") payment from Beach Energy Ltd. ("Beach") for the May 2023 – July 2023 quarter. Gross royalty income for the quarter was AUD$1,279,749. The AUD$895,824 payment received by Newport is net of 30% Australian withholding tax (AUD$383,925).

NEWPORT RECEIVES AUD$1,279,749 (GROSS)/AUD$895,824 (NET) QUARTERLY ROYALTY PAYMENT (newswire.ca)
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