Vox Royalty (TSX-V:VOX) Corp told investors they can look forward to a catalyst-rich period ahead as the royalty firm grows its five producing assets to ten by 2023.
Reporting results for its third quarter to end-September 2021, Vox revealed that the period had seen it break royalty-linked production records, grow its portfolio organically to now five producing royalties, and see record trading liquidity.
Revenue in the three months grew to US$1.22 million from US$10,252 in the third quarter of 2020, while the net loss narrowed to US$1.25 million compared to a loss of US$2.2 million a year earlier.
"Based on strong Q3 royalty revenues, Vox remains on track to meet the upper-end of 2021 annual revenue guidance of C$4M - C$5M, which was doubled in July 2021," Kyle Floyd, the company's CEO, noted in a statement.
READ: Vox Royalty says it is expecting 2022 to be a 'record year' for its asset portfolio in an operations update
"Growing investor interest in Vox's high-growth asset portfolio and disciplined focus on sector-leading returns has been further validated through the initiation of additional independent research coverage by Laurentian Securities earlier this month. Vox shareholders can look forward to catalyst-rich upcoming quarters as the company continues its rapid organic growth from 5 to 10 producing assets by late 2023," he added.
Among the highlights of the quarter was record royalty-linked gold production in Western Australia from the Hidden Secret deposit at Higginsville covered by the Dry Creek royalty and record royalty-linked iron ore production volumes from the Koolyanobbing royalty.
Commercial production was also achieved at the Segilola gold mine in Nigeria, as reported by Thor Explorations Ltd (TSX-V:THX, AIM:THX, OTC:THXPF) on October 5 this year.
Vox ended the period with a strong balance sheet, including cash on hand of US$4.6 million, working capital of US$7.8 million and total assets of US$28.1 million.
The company is a high-growth precious metals royalty and streaming company with a portfolio of over 50 royalties and streams spanning eight jurisdictions.
Contact the writer at giles@proactiveinvestors.com