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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Comment by lookin2retireon Oct 20, 2015 8:58pm

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Post# 24211019

RE:Austrailan Withholding Tax

Possible 10 % Withholding Tax? During the year ended July 31,2014, the Company earned $13,120,651 (2013 $2,719,542) of petroleum royalty income. During the nine months ended April 30, 2015, the Company earned $4,971,037 of petroleum
royalty income. So just under $21 Million in Royalties X 10% would be about 2.1 million. I believe almost $3 million in Royalties have been withheld by Beach so far so that would cover the 10%. Other than LOL IAMADUMBA$$, as he is on ignore, any comments.

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From now on, dynaCERT instead of Bitcoin or NVIDIA?