TORONTO, July 27, 2021 /CNW/ - Vox Royalty
Corp. (TSXV: VOX) ("Vox" or the
"Company"), a high growth precious metals focused royalty
company, is pleased to announce that it has realized record
preliminary quarterly royalty revenue of C$1,628,600 (US$1,314,000)(1) for the three-month
period ended June 30, 2021. During
the quarter, the Company recognized inaugural royalty revenue from
its Janet Ivy gold royalty, acquired on March 29, 2021, which is an uncapped A$0.50 per tonne royalty.
Quarterly revenue benefitted from increased royalty-linked
production by Mineral Resources Limited (ASX: MIN) at
Koolyanobbing, increased production by Karora Resources Inc. (TSX:
KRR) from the Hidden Secret deposit at Higginsville covered by the
Dry Creek royalty, inaugural royalty revenues earned from the Janet
Ivy royalty, and increased production by the operator of the Brauna
royalty.
Vox has successfully grown quarterly revenue figures
exponentially since Q3 2020, which is summarized in the below
chart:
|
Three months
ended
September 30,
2020
|
Three months
ended
December 31,
2020
|
Three months
ended
March 31,
2021
|
Three months
ended
June 30,
2021
|
Royalty revenue
(C$)
|
$13,675
|
$147,659
|
$668,600
|
$1,628,600
|
Royalty revenue
(US$)
|
$10,252
|
$115,975
|
$539,980
|
$1,314,000(1)
|
Royalty revenue %
growth
|
|
1,031%
|
366%
|
143%
|
# of producing
assets
|
1
|
2
|
3
|
4
|
Kyle Floyd, Chief Executive
Officer stated: "This is the continuation of an exciting period
in Vox's growth as revenue and profitability metrics start to
reflect the true earnings power of the Vox royalty portfolio. We
have consistently updated the market with operator updates
concerning our royalty assets and noted that our portfolio
continues to grow ahead of expectations. The coming quarters and
years should continue to reflect a robust increase in revenues from
both in production assets and development stage projects we expect
to come online."
2021 Revised Outlook
On April 13, 2021, the Company
announced that it expected 2021 annual royalty revenues to total
C$1,700,000 – C$2,500,000. The Company is pleased to announce
that it now expects 2021 royalty revenues to double to
C$4,000,000 – C$5,000,000.
The Company's two-fold increase in 2021 revenue guidance is
based on public forecasts and other disclosure by the third-party
owners and operators of its assets or management's assessment
thereof. The increase in guidance since the Company's last issued
guidance is mainly attributable to: (i) higher royalty-linked
production volumes at the Koolyanobbing iron ore operations across
the Deception open pit and recently commissioned Altair open pit,
(ii) first production from the Segilola gold mine anticipated in
July 2021, and (iii) continued
quarter-on-quarter record royalty-linked production from the Hidden
Secret deposit at Higginsville covered by the Dry Creek
royalty.
The revised 2021 outlook does not include the potential sale
proceeds from two graphite royalties in the process of being sold,
as announced on July 5, 2021.
About Vox
Vox is a growth precious metals royalty and streaming company
with a portfolio of over 50 royalties and streams spanning nine
jurisdictions. The Company was established in 2014 and has since
built unique intellectual property, a technically focused
transactional team and a global sourcing network which has allowed
Vox to become the fastest growing company in the royalty sector.
Since the beginning of 2019, Vox has announced over 20 separate
transactions to acquire over 45 royalties.
Further information on Vox can be found at
www.voxroyalty.com.
Cautionary Note Regarding Forward Looking Information
This news release contains certain forward-looking
statements. Any statements that express or involve discussions with
respect to predictions, expectations, beliefs, plans, projections,
objectives, assumptions or future events or performance (often, but
not always, using words or phrases such as "expects" or "does not
expect", "is expected", "anticipates" or "does not anticipate"
"plans", "estimates" or "intends" or stating that certain actions,
events or results " may", "could", "would", "might" or "will" be
taken, occur or be achieved) are not statements of historical fact
and may be "forward-looking statements". Forward-looking
statements are subject to a variety of risks and uncertainties
which could cause actual events or results to materially differ
from those reflected in the forward-looking statements.
The forward-looking statements and information in this press
release include, but are not limited to Vox's anticipated outlook
for the 2021 fiscal year, completion of certain anticipated
milestones, transactions and developments by the operators of
certain underlying projects and mines in respect of Vox's royalty
and stream portfolio, anticipated future cash flows, future
financial reporting by Vox, the receipt of payments from Vox's
mining royalty and streaming portfolio, the requirements for
regulatory approvals and third party consents, and the completion
of mine construction, production and expansion under construction
phases at the mines or properties that Vox holds an interests
in.
Forward-looking statements and information are based on
forecasts of future results, estimates of amounts not yet
determinable and assumptions that, while believed by management to
be reasonable, are inherently subject to significant business,
economic and competitive uncertainties and contingencies.
Forward-looking statements and information are subject to various
known and unknown risks and uncertainties, many of which are beyond
the ability of Vox to control or predict, that may cause Vox's
actual results, performance or achievements to be materially
different from those expressed or implied thereby, and are
developed based on assumptions about such risks, uncertainties and
other factors set out herein, including but not limited to: the
requirement for regulatory approvals and third party consents, the
impact of general business and economic conditions, the absence of
control over the mining operations from which Vox will receive
royalties, including risks related to international operations,
government relations and environmental regulation, the inherent
risks involved in the exploration and development of mineral
properties; the uncertainties involved in interpreting exploration
data; the potential for delays in exploration or development
activities; the geology, grade and continuity of mineral deposits;
the impact of the COVID-19 pandemic; the possibility that future
exploration, development or mining results will not be consistent
with Vox's expectations; accidents, equipment breakdowns, title
matters, labor disputes or other unanticipated difficulties or
interruptions in operations; fluctuating metal prices;
unanticipated costs and expenses; uncertainties relating to the
availability and costs of financing needed in the future; the
inherent uncertainty of production and cost estimates and the
potential for unexpected costs and expenses, commodity price
fluctuations; currency fluctuations; regulatory restrictions,
including environmental regulatory restrictions; liability,
competition, loss of key employees and other related risks and
uncertainties. Should one or more of these risks, uncertainties or
other factors materialize, or should assumptions underlying the
forward-looking information or statement prove incorrect, actual
results may vary materially from those described herein as
intended, planned, anticipated, believed, estimated or expected.
Vox cautions that the foregoing list of material factors is not
exhaustive. When relying on the Company's forward-looking
statements and information to make decisions, investors and others
should carefully consider the foregoing factors and other
uncertainties and potential events.
Vox has assumed that the material factors referred to in the
previous paragraph will not cause such forward looking statements
and information to differ materially from actual results or events.
However, the list of these factors is not exhaustive and is subject
to change and there can be no assurance that such assumptions will
reflect the actual outcome of such items or factors. The
forward-looking information contained in this press release
represents the expectations of Vox as of the date of this press
release and, accordingly, is subject to change after such date.
Readers should not place undue importance on forward looking
information and should not rely upon this information as of any
other date. While Vox may elect to, it does not undertake to update
this information at any particular time except as required in
accordance with applicable laws.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Notes:
(1) These figures have not been audited and are subject to
change. As the Company has not yet finished its quarter-end close
procedures, the anticipated financial information presented in this
press release is preliminary, subject to final quarter-end closing
adjustments, and may change materially.
SOURCE Vox Royalty Corp.