Vox Royalty (TSX-V:VOX) Corp has told investors it realized record preliminary quarterly revenue of C$1.86 million for the three-months ended March 31, 2022, largely driven by the first full quarter of gold royalty revenues from its Segilola gold royalty asset in Nigeria.
The precious metals royalty and streaming company said Segilola benefited from high production and gold prices. This was complemented by a rebound in quarterly iron ore prices associated with its Koolyanobbing iron ore royalty in Western Australia.
“We are excited to announce record quarterly revenue for 1Q 2022 that exceeded management's high expectations,” Vox CEO Kyle Floyd said in a statement. “This result is the continuation of a particularly exciting period in Vox's eight-plus year history as revenue and profitability continue to grow, validating the unique competitive advantages which Vox leverages in generating sector-leading returns on invested capital.”
READ: Vox Royalty prepares for productive year ahead after reporting record 2021 results
Vox’ said its organic revenue growth is a product of its stated strategy of acquiring high-quality third-party royalties, many of which are over projects with productive near-term development and production catalysts.
“The coming quarters and years should continue to reflect a robust increase in revenues from both current production-stage assets and development-stage projects that we expect to come online in the near-term,” Floyd added.
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