Again the 2% NSR was owned by Century Bull P/L on NCZ's acquisition of the initial 70% interest. But New Century then acquired the remaining 30% interest by acquiring Century Bull P/L which is now a 100% owned subsidiary.
Century Bull P/L would still own the 2% NSR but the expense would wash out in the consolidated accounts. They could cancel this 2% NSR but there is probably Qld stamp duty ramifications.
If Walta, Cranston and Carr still had any indirect interest in this royalty then it would have to be declared in Related Party Transactions in the Annual Accounts - the 2019 Financial Statements will be out next week.
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- Ann: NCZ Secures Landmark Royalty Deferral Agreement with QLD Gvt
Ann: NCZ Secures Landmark Royalty Deferral Agreement with QLD Gvt, page-29
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