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

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Post by lookin2retireon Aug 31, 2015 5:10pm

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Post# 24066426

Might go lower??

Depending on tax ruling by ATO. Second Royalty cheque held.

Newport Exploration Ltd. has been advised by Beach Energy Ltd. that the royalty payment due to the company for the period from May 1 to July 31, 2015, is $1,783,185 (Australian). This amount is to be held in an interest-bearing account pending a ruling from the Australian Tax Office (ATO).

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