Vox Royalty (TSX-V:VOX) Corp has noted that a subsidiary of Zijin Mining Group Co, Limited has disclosed that the Binduli North expansion at its producing Janet Ivy gold mine in Western Australia is targeted for completion as early as March 2022.
Vox said the expansion was the key near-term catalyst the company anticipated when it acquired an uncapped A$0.50 per tonne production gold royalty on Janet Ivy in March 2021.
“The Binduli North heap leach expansion is expected to re-rate Janet Ivy royalty revenues from 2022 onwards,” Vox Royalty (TSX-V:VOX) Australia executive vice-president Riaan Esterhuizen said in a statement.
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“This royalty has the potential to generate A$1.5M – A$2.5M of annual revenues from Binduli North production on average across the life of mine and assuming a target production rate from Norton Gold of 5Mtpa (million tonnes per annum) from Binduli North,” Esterhuizen added.
The company noted that Zijin began construction on Binduli North in June 2021 and Janet Ivy deposit has been mined since 2017.
Vox added its royalty-linked tenure covers the core of Binduli North, including the full Janet Ivy resource as well as portions of the Fort William, Karen Louise and Fort Scott deposits.
Based on a mining proposal submitted to the Western Australian Environmental Protection Authority (EPA) in December 2020, the Binduli North expansion is a 5 Mtpa heap leach project that is expected to mine 41 million tonnes of ore grading 0.6 grams per tonne (g/t) gold over a nine-year mine life.
As well, Vox has announced the filing on SEDAR (System for Electronic Document Analysis and Retrieval ) of a technical report by Kangari Consulting LLC, “NI 43-101 Technical Report, Janet Ivy Gold Mine (M26/446), Western Australia , Australia,” dated October 5, 2021.
Toronto-based Vox Royalty (TSX-V:VOX) is a precious metals royalty and streaming company with a portfolio of over 50 royalties and streams spanning eight jurisdictions.
Contact Sean at sean@proactiveinvestors.com