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Peak signs on to Royalco register

2nd February 2015

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – ASX-listed High Peak Royalties has taken a 19.99% stake in fellow-listed royalty house Royalco Resources.

Royalco holds a collection of royalty interests across Australia, as well as other jurisdictions, with its key royalty interest being a 1% interest in the Weeks petroleum royalty, covering all production from the Bass straits field, which is jointly owned by ExxonMobil and BHP Billiton.

High Peak said on Monday that the acquisition of the Royalco interest was consistent with the company’s strategy of gaining exposure to attractive royalty interests, and complemented High Peak’s existing portfolio of oil and gas royalties, which cover 23 producing areas and high potential exploration areas in Australia, the US and Seychelles.

The 10.54-million shares were acquired from London-listed Anglo Pacific Group at 20c each, valuing the transaction at A$2.1-million.

Edited by Creamer Media Reporter

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