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.

TSXV:NWX - Post by User

Newport Exploration Ltd

Bullboard Posts

Post by lookin2retireon Feb 16, 2015 8:59pm

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Post# 23434252

Quarterly Compensation

During the three months ended October 31, 2014, the Company entered into the following transactions with related parties:

a) Paid or accrued consulting fees of $45,000 (2013 - $45,000) to a company controlled by a director of the Company.
b) Paid or accrued management fees of $37,500 (2013 - $30,000) to a company controlled by a director of the Company.
c) Paid or accrued rent of $18,150 (2013 - $18,150) to a company controlled by a director of the Company.
d) Paid or accrued directors’ fees of $10,000 (2013 - $5,000) to two directors of the Company.
e) Paid or accrued professional fees of $42,740 (2013 - $2,642) to a legal firm of which an officer of the Company is a partner.
f) Paid or accrued consulting fees of $nil (2013 - $6,000) to a company controlled by a director of the Company.