Vox Royalty (TSX-V:VOX) Corp said it remained on track to deliver revenue from its portfolio at the higher end of its expectations of between C$4 million and C$5 million for full-year 2021.
In a statement, the royalty group, which has 50 royalties and streams spanning eight jurisdictions, reported it had realized preliminary quarterly royalty revenue of around C$1.56 million in the third quarter to September 30 this year.
"We are pleased to announce another quarter of strong royalty revenue and multiple royalty-linked production records at Higginsville and Koolyanobbing," said Kyle Floyd, the company's CEO in a statement.
"The Vox portfolio remains on track to deliver revenue at the higher end of our expectations, even in light of revenue guidance doubling in July 2021.
READ: Vox Royalty hails successful start of production at Segilola gold mine in new asset update
"Further, we anticipate first royalty revenue from our Segilola asset during Q4/Q1, following the achievement of commercial production at Segilola in October.
"The coming quarters present even more value accretive developments for Vox shareholders to look forward to, as we continue our industry-leading organic growth trajectory from 5 to 10 producing assets by late 2023."
The third-quarter revenue benefitted from record royalty-linked gold production by Karora Resources Inc from its Hidden Secret and Mousehollow deposits at Higginsville, Australia covered by the Dry Creek royalty and record royalty-linked iron ore production volumes by Mineral Resources' at Koolyanobbing, also in Australia, along with consistent royalty revenues from each of Vox's Janet Ivy gold royalty and Brauna diamond royalty.
Royalty revenues compared to the second quarter this year were in line despite a significant reduction in realized iron ore pricing at Koolyanobbing, Vox also noted.
Contact the author at giles@proactiveinvestors.com