Newport Exploration Ltd V.NWX

Alternate Symbol(s): NWXPF

Metals & Mining Industrial Metals & Minerals

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.

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Newport Exploration Ltd

Bullboard Posts

Post by lookin2retireon May 10, 2014 10:20am

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Post# 22547221

Question for directors and officers of Newport

According to Bob Moriarty's write up and can be verified in company financials and with no news releases in 2013 about the royalty,

Holders of the 5.45 million options refused to pay $.10 a share up to December 18 of 2013 knowing the company had twice that in cash and Ms. Dunfield had agreed to reissue the options at $.05 based on inside information.

Why was it necessary to let the 10 cent options expire and grant the 5 cent options when you knew that the company had all that cash?

Bullboard Posts

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