Vox Royalty Corp (TSX-V:VOX), which has over 60 royalties and streams spanning eight jurisdictions, has updated on recent progress from some of its partners, regarding several near-term gold assets.
The news concerns royalty partners Aurenne, Black Cat Syndicate Ltd (ASX:BC8), Orla Mining Ltd, Norwest Minerals Ltd (ASX:NWM) and Genesis Minerals (ASX:GMD) Ltd.
"The past two months have seen exciting developments by our royalty operating partners on several near-term gold assets, including construction progress at Mt Ida to establish a 1.2Mtpa gold plant in early 2023 and selection of a mining contractor at Bulong ahead of potential toll milling," said Spencer Cole, Vox's chief investment officer.
"Medium term growth continues to be supported by Orla's plans at the recently acquired South Railroad project in Nevada and the mining lease application at Bulgera. This progress supports management's excitement for organic growth within the Vox royalty portfolio heading into 2023 and beyond," he added.
At Mt Ida, Vox holds a 1.5% net smelter return royalty (NSR) subsequent to the first 10,000 ounces of cumulative gold production over part of the project in Western Australia, which was acquired in May 2020 for US$200,000.
READ: Vox Royalty acquires 'overlooked' gold royalty in Western Australia
"Mt Ida construction continues to progress favourably towards first production in mid-2023. Aurenne is also constructing the project at a higher plant capacity of 1.2Mtpa compared to the prior 750Ktpa scale outlined by the previous project holder in 2020. All of this progress continues to support Vox management expectations around near-term royalty revenue from Mt Ida," said Vox.
Elsewhere, Vox holds an uncapped 1% NSR over part of the Bulong gold project. The company said: "Black Cat has recently engaged a mining contractor and appears to be very close to locking in toll milling terms to commence production in 2023.
"This royalty fits Vox's ideal royalty acquisition target as at the time of acquisition we believed it had near term production potential as a high grade open pit alongside meaningful exploration potential at depth."
Meanwhile, at the South Railroad asset in Nevada, USA, Vox has a 0.633% NSR with advance minimum royalty payments over key portions of the property.
"Vox management anticipates additional material permitting, resource expansion and development newsflow from Orla in 2023," it said in the statement.
Vox acquired the uncapped 1% NSR over the Bulgera gold project in Western Australia for A$225,000 in March, 2021.
"Norwest is continuing to take major steps towards a capital-light development solution for the Bulgera gold royalty. Vox management anticipates the granting of a mining license and looks forward to the outcome of discussions with the local gold plant operator regarding potential toll treatment," the firm told investors.
Finally, Vox acquired a "growing gold exploration royalty" on part of the Kookynie gold project in Western Australia for under A$150,000 in 2020. Vox said it "believes that it continues to appreciate in value with the ongoing expansion of the royalty-linked Puzzle North discovery".
"These broad drilling intersections suggest the Puzzle North gold discovery is a much larger mineralised zone than initially expected."
Contact the author at giles@proactiveinvestors.com