With offices in Perth and Sydney, High Peak's aim is to build a portfolio of high-value resource royalties with exposure to projects in exploration, pre-production and producing phases.
() substantial holder Noontide Investments Ltd has increased its holding in the company to 28.2% from 26.8%.
On April 30, the Sydney-based boutique investment company acquired more than 53.32 million shares under a follow-on public offering (FPO).
HPR has seen a positive impact from the increased gas prices in Eastern Australia - reflected in the royalties received on the Peat Gas Field in Queensland for the December quarter of $33,000.
The company expects this trend to continue with () announcing that the Peat Gas field may have a significant increase in production in 2020 from extended horizontal wells and test results from the deep South Burunga-2 well.
Emmerson Resources change of interests
() also saw Noontide Investments increase its stake in the company from 16.8% to 18.2% in late April.
The change of interests in the company increased from more than 69.75 million shares to more than 77.52 million shares.
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