Bullboard - Stock Discussion Forum 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... see more

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TSXV:NWX - Post Discussion

Newport Exploration Ltd > Dividend halved

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Post by rad10 on May 17, 2024 5:38am

Dividend halved

Half a cent declared.

These shares don't owe us much.

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Comment by jsnfernley on Jul 04, 2024 4:58pm

Could you please defne what you mean by "These shares don't owe us much"? Management is paying itself $80k a month, directors fees are $7.5k a month. For what? Cashing checks every quarter? Complex lease accounting for the office space rent? Travel expense over $100k per year. For what? It now takes two quarters of royalties to pay for the annual blue chip ...more

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Comment by jsnfernley on Jul 24, 2024 12:02am

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 ...more

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Newport Exploration Ltd