Fitzroy River Corp Reports Decline in Annual Royalties

Fitzroy River Corp. Ltd. (AU:FZR) has released an update.

Fitzroy River Corporation Ltd reported a decline in total royalty receipts for the year ending September 2024, receiving $906,795 compared to the previous year’s $1,088,694. Buru Energy operations remained suspended, resulting in no royalty income this quarter, but plans are in place to commercialize the Rafael Gas Discovery and restart oil production in 2025. The company also highlighted the potential impact of global oil price volatility on future royalty receipts.

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