Carnegie pockets gold royalty STAFF REPORTER APRIL 14, 2014 3:45PM
Carnegie Wave Energy has pocketed $950,000 in royalties from its tenements in the Higginsville Gold Operations being operated by Metals X Ltd.
The royalty interests stem from Carnegie's previous life as a minerals exploration company in the 1990s, prior to its switch to the renewable wave energy business.
The payments, which remain "uncertain" and depend on a "number of variables", are earned with no expenditure by the company, Carnegie said.
Under the royalty, Carnegie receives a cash payment for every ounce of gold extracted.
Carnegie shares were up 0.5 per cent, or 2c, to 52c, at 11.37 AEST.
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