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High Peak Royalties Limited ( (AU:HPR) ) has issued an update.
High Peak Royalties has completed the sale of its wholly owned subsidiary Torrens Energy (SA) Pty Ltd, which holds South Australian geothermal licences and applications, to Northstar Energy Limited, receiving a total of 12.5 million Northstar shares and retaining a 1% gross royalty over geothermal energy produced from the Torrens tenements. With ministerial approval now secured and both tranches of the deal finalised, High Peak has exited direct ownership of the geothermal assets while preserving ongoing economic exposure in line with its royalty-focused strategy, as Northstar advances feasibility work on a 2 MW pilot-scale geothermal power demonstration project under a newly approved work programme in South Australia.
More about High Peak Royalties Limited
High Peak Royalties Limited is an ASX-listed resources investment company focused on building a diversified portfolio of royalties over energy and resource assets. Rather than operating projects directly, the company seeks long-term exposure to cashflows from oil, gas, geothermal and other resource developments through royalty interests and strategic equity stakes in project developers.
Average Trading Volume: 183,991
Technical Sentiment Signal: Sell
Current Market Cap: A$11.26M
For detailed information about HPR stock, go to TipRanks’ Stock Analysis page.