Vox Royalty Corp (CVE:VOX) (OTCMKTS:VOXCF) has told investors it expects to finish 2021 with more than seven producing royalties as it posted results for its full year and for the fourth quarter to December 31, 2020.
"This growth in producing royalties is expected to increase our annual royalty revenues by approximately C$2 million from 2020 to 2021," noted Vox CEO Kyle Floyd in an accompanying statement.
"Our 40 operating partners continue to actively progress our exploration and development royalties towards production, which will support Vox's growth into 2022 and beyond," he added.
READ: Vox Royalty reveals notable developments on its Australian and Brazilian royalty interests
Cayman Islands-based Vox, which started trading on the Toronto Venture Exchange in August last year, now boasts a portfolio of 50 royalties and streaming assets, which span Australia, Canada, Peru, Brazil, Mexico, the United States, Madagascar and Nigeria. It began 2020 with just one producing royalty.
For the year to December 31, 2020, the company reported revenue of US$126,227, with first revenues received from its Brauna royalty beginning in 3Q and from its Higginsville (Dry Creek) royalty in Australia staring in the fourth quarter. In the fourth quarter alone, the group recorded revenue of US$115,975.
Among other highlights of the full year, Vox completed a brokered and non-brokered private placing in May 2020, raising total gross proceeds of C$13.75 million.
It also completed 14 transactions to acquire a total of 30 royalties during the year and secured the acquisition of a proprietary royalty database from Mineral Royalties Online, which includes over 7,000 global royalties.
In the fourth quarter, the group revealed that more than 34,000 metres of partner-funded drilling was completed on Vox Royalty-linked claims and tenements, while the period also saw it announce the acquisition of the Brits vanadium royalty operated by Bushveld Minerals.
Regarding its production stage assets, Vox listed the following details based on guidance from the projects' operators:
- Segilola: advanced construction 1.5% NSR royalty in Nigeria, capped at US$3.5 million, with operator Thor targeting first gold pour in Q2, 2021
- Bulong: pre-construction 1% NSR royalty in Western Australia, with Black Cat targeting commencement of production in Q4, 2021.
- Koolyanobbing (Deception & Altair Pits): producing 2% FOB revenue iron ore royalty over part of the Deception Pit and all of the Altair Pit in Western Australia
- Higginsville (Dry Creek): producing grade-linked tonnage royalty in Western Australia, covering part of the Hidden Secret, Mousehollow and Paleochannels deposits
- Brauna: producing 0.5% gross sales royalty interest in Brazil, South America's largest operating diamond mine, currently mining one of 21 kimberlite occurrences on the property
- Janet Ivy: producing tonnage royalty in Western Australia, covering the Janet Ivy gold mine.
- Mt Moss: pre-restart 1.5% NSR royalty over base metal, magnetite and silver production from a lease, which covers the Mt Moss iron-copper-zinc Skarn project, which was on care and maintenance when Vox acquired the royalty in 2020 with plans to be reopened in Q2, 2021.
Contact the author at giles@proactiveinvestors.com