Vox Royalty (TSX-V:VOX) Corp gave shareholders an update on activity at its portfolio of royalty assets, citing “consistent progress” being made by its project partners.
The firm said it is particularly excited by the impending release of a feasibility study on the South Railroad gold project in Nevada, where Vox holds a 0.633% net smelter royalty with advance minimum royalty payments over part of the South Railroad gold project.
"We are excited by yet another month of consistent progress across our royalty assets, particularly by the impending release of the South Railroad feasibility study in Nevada and pre-construction progress at Bulong in Western Australia,” Vox CIO Spencer Cole said in a statement.
READ: Vox Royalty reports strong royalty revenue in 3Q; on track for revenue at high end of expectations for full year
At Bulong, where Vox holds a 1% net smelter royalty, operators Black Cat are quickly advancing the gold project towards production in the second half of 2022.
Other highlights include positive drilling updates from the Bowdens silver project, the Higginsville gold operation, the Pedra Blanca platinum group metals project and the Uley graphite project.
“Our royalty projects continue to exceed Vox management expectations in terms of their pace of development, the volume of discovery drilling and higher likelihood of royalty revenue for Vox,” Cole said.
“Based on this strong operator progress, Vox management expects that 2022 has potential to be a record year for discovery drilling, engineering studies being released and projects moving into production."
Normal course issuer bid renewed
The company also said that it is renewing its normal course issuer bid, which provides it with the option to purchase up to 1,628,289 shares “as appropriate opportunities arise from time to time,” it said in a statement.
Under the terms of the renewed bid, Vox may repurchase for cancellation up to 1,968,056 common shares, being 5% of the total number of 39,361,137 common shares outstanding as at November 11, 2021.
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