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Newport Exploration Ltd V.NWX

Alternate Symbol(s):  NWXPF

Newport Exploration Ltd is a Canada-based natural resource company. The Company is engaged in the acquisition and exploration of resource properties. In addition, the Company holds a 2.5% gross overriding royalty interest (the Royalty) on any hydrocarbons produced on certain petroleum exploration and production licenses in Australia. These include licenses being operated and explored by Beach Energy Ltd. (Beach) and Santos Ltd. (Santos), both major Australian oil and gas producers. The Company’s mineral exploration project is the Chu Chua Copper Gold Deposit (Chu Chua), which is located approximately 30 kilometers north of Kamloops, British Columbia. 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 known strike length of 400 m and a known depth of 250 m.


TSXV:NWX - Post by User

Bullboard Posts
Post by lookin2retireon May 01, 2014 9:13pm
148 Views
Post# 22515560

Regulatory Approval????

Regulatory Approval????Someone explain to me how the PP got Reulatory Approval???? At the end of October, 2013 the company had $9,375,323.00 Cash, Receivables, Prepaid Expenses, and Short-term investments and Accounts payable and accrued liabilities of only $24,624.00. Weighted average number of common shares outstanding 55,927,352 and was trading somewhere between 5 and 10 cents. Market Cap of approx. 2.75 to 5.5 $Million, right. Earnings per share would have been 10 cents per share over the last 2 quarters. Is the price of the PP strictly based on share price with no regard to current assets on the financial statements??
Bullboard Posts