Newport Exploration (TSE:NWX) has released an update.
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Newport Exploration Ltd. has received a substantial quarterly royalty payment of AUD$613,339 after taxes from Beach Energy Ltd., bolstering its financial position with around CDN$2 million in reserves. However, the company has deferred dividend payments as it awaits Beach’s operational plans, which directly impact Newport’s income from its enduring 2.5% Gross Overriding Royalty interests in the Cooper Basin, Australia.
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