Vox Royalty Corp (TSX-V:VOX) told investors it has realized record preliminary revenue receipts of $9.7 million for its full 2022 fiscal year, more than a 160% increase compared to $3.6 million for the comparable 2021 period.
The company also noted that its full-year preliminary revenue receipts exceeded its 2022 revenue guidance of $7.8 million to $9.4 million, provided last May.
During the three months ended December 31, 2022, Vox said it realized preliminary revenue receipts of $2.1 million, compared to $575,000 for the comparable period in 2021.
"We are thrilled to announce record preliminary revenues exceeding the upper range of 2022 revenue guidance, in addition to delivering major strategic milestones of a Nasdaq listing and commencing a quarterly dividend for Vox investors,” Vox CEO Kyle Floyd said in a statement.
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Vox noted that annual and quarterly 2022 revenues were largely driven by royalty revenue associated with its Wonmunna iron ore royalty and Segilola gold royalty assets.
It said the preliminary results should be read in conjunction with the company's audited consolidated financial statements for the year ended December 31, 2022, as and when released.
“The Vox royalty portfolio continues to outperform management's high expectations,” Floyd added. “We look forward to building off this strong momentum into 2023 by delivering growing revenues, sustainable quarterly dividends and significant upside linked to organic operator developments."
Vox is a returns-focused mining royalty company with a portfolio of over 60 royalties and streams spanning eight jurisdictions. Established in 2014, it has built unique intellectual property, a technically focused transactional team and a global sourcing network which has allowed Vox to target the highest returns on royalty acquisitions in the mining royalty sector.
Since the beginning of 2020, Vox has announced over 25 separate transactions to acquire over 50 royalties.
Contact the author at stephen.gunnion@proactiveinvestors.com