The company earns revenue through oil and gas royalties held in numerous locations.
() substantial holder Noontide Investments Ltd has increased its stake in the company from 25.7% to 26.8% through the on-market purchase of fully paid ordinary shares.
This brings the Sydney-based boutique investment management company’s total current holding to 50,729,020 shares.
The company receives revenue from existing multiple royalties and has benefited from strong oil prices in 2019.
Gas prices in the first half of the year oscillated but remained steady on average.
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