Vox Royalty (TSX-V:VOX) Corp has confirmed that 2021 was a record year for the precious metals royalty and streaming company as it prepared investors for a 2022 that “will be a highly productive year of rapid organic portfolio development, accretive royalty acquisitions and expanded capital markets awareness with a potential secondary Nasdaq listing".
CEO Kyle Floyd said in a statement: "2021 was a significant value accretive year for the company, delivering peer leading shareholder-focused growth. Vox achieved record revenues, gross profits and operating cash flows while continuing to grow value per share through disciplined accretive transactions.”
Vox Royalty reported quarterly royalty revenue of US$574,214 for the three months ended December 31, 2021, taking total revenue for the year to US$3.65 million, the highest in its history. Gross profit for the year also reached a record at $2.68 million and it ended the year with cash on hand of US$5.06 million, working capital of US$6.21 million and total assets of US$27.3 million.
READ: Vox Royalty says “meaningful progress” made in 2022 on development of royalty interest projects in Brazil and Australia
“The current environment for the Vox portfolio of royalties in tandem with the acquisitional growth landscape for the business is the strongest it has been over the nine-year corporate history of Vox,” Floyd added.
Following the end of its 2021 financial year, the company listed the following developments:
- Agreed to acquire two platinum group metals (PGM) royalties for total consideration of up to C$10.4 million from a South African registered company;
- Filed an initial application to list its common shares on the Nasdaq;
- Released feasibility study for the South Railroad gold project in Nevada;
- Announced a 106% increase in mineral resource at the Pedra Branca platinum group element project;
- Released a maiden resources estimate for the Puzzle North gold resource;
- Announced a 113% increase in gold resource estimate at the Bulgera gold project in Australia.
More recently, on April 26, 2022, the company said it entered into a sale and purchase agreement with a subsidiary of hearing aid technology company Nuheara Ltd (ASX:NUH). to acquire all of Terrace Gold's rights and interests in an agreement with Lumina Copper, which includes the right to receive the El Molino 0.5% NSR royalty in Peru.
The El Molino claim is part of the integrated pre-feasibility stage El Galeno porphyry copper-gold-molybdenum-silver property and is owned and operated 60% by China Minmetal Non-Ferrous Metals Co. and 40% by Jiangxi Copper Company Ltd.
Vox said the upfront consideration issued to Nuheara will be US$50,000 in its common shares, subject to the approval of the TSX Venture Exchange. A further payment of US$450,000 is payable, in cash or shares following the registration of the El Molino royalty rights on the applicable mining title in Peru and the satisfaction of other customary completion conditions.
Toronto-based Vox is a precious metals royalty and streaming company with a portfolio of over 50 royalties and streams spanning eight jurisdictions.
Contact the author at stephen.gunnion@proactiveinvestors.com