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 > Dividend halved

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Comment by jsnfernleyon Jul 24, 2024 12:02am

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Post# 36145583

RE:RE:Dividend halved

Thanks for clarifying your statement rad10.

Oil production on Beach's Western Flank is now down 75% from the peak in 2020. Nat gas, LPG, and condensates production are all down +60% from their peak.

Beach's "refresh" is probably more like "let's not spend anything until we see if anything will work." Most of the FY24 holes were duds. There's no point in spending more until something actually works.

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