GEORGE TOWN, Cayman Islands,
May 4, 2021 /CNW/ - Vox
Royalty Corp. (TSXV: VOX) ("Vox" or the
"Company") is pleased to announce that the Company has
realized record preliminary revenue of C$668,600 (US$540,000)(1) for the three-month
period ended March 31, 2021. All
preliminary revenues were derived from royalties, not streams, as
such, the cash operating margin(1) was 100% for the
quarter. During the quarter, the Company recognized inaugural
royalty revenue from the Koolyanobbing royalty, which is an
uncapped 2% Free on Board sales value royalty from iron ore mined
from the recently commissioned Altair Pit and a portion of the
Deception Pit.
![Vox Royalty Corp. Logo (CNW Group/Vox Royalty Corp.) Vox Royalty Corp. Logo (CNW Group/Vox Royalty Corp.)](https://mma.prnewswire.com/media/1502657/Vox_Royalty_Corp__Vox_Royalty_Announces_Record_Revenue_in_Q1_202.jpg)
Quarterly revenue benefitted from increased royalty-linked
production by Mineral Resources Limited (ASX: MIN) and record iron
ore prices at Koolyanobbing, increased production by Karora
Resources Inc. (TSX: KRR) from the Hidden Secret deposit at
Higginsville covered by the Dry Creek royalty and rebounding
quarterly diamond prices associated with the Brauna royalty.
Kyle Floyd, Chief Executive
Officer stated: "Record quarterly revenue for Q1 represents the
start of Vox's anticipated revenue growth through 2023 as numerous
royalty assets are expected to commence production. The Company's
preliminary quarterly revenue is in line with previously announced
2021 full-year revenue guidance of C$1.7M to C$2.5M.
Vox's organic revenue growth is a product of the Company's stated
strategy of acquiring high quality, attractively priced royalties
many of which are near term production opportunities. Vox held one
producing royalty in May 2020 and
anticipates finishing 2021 with seven producing assets based on its
current portfolio of 50 royalties."
About Vox
Vox is a growth precious metals royalty and streaming company
with a portfolio of 50 royalties and streams spanning nine
jurisdictions. The Company was established in 2014 and has since
built unique intellectual property, a technically focused
transactional team and a global sourcing network which has allowed
Vox to become the fastest growing company in the royalty sector.
Since the beginning of 2019, Vox has announced over 20 separate
transactions to acquire over 45 royalties.
Further information on Vox can be found at
www.voxroyalty.com.
Cautionary Note Regarding Forward Looking Information
This news release contains certain forward-looking
statements. Any statements that express or involve discussions with
respect to predictions, expectations, beliefs, plans, projections,
objectives, assumptions or future events or performance (often, but
not always, using words or phrases such as "expects" or "does not
expect", "is expected", "anticipates" or "does not anticipate"
"plans", "estimates" or "intends" or stating that certain actions,
events or results " may", "could", "would", "might" or "will" be
taken, occur or be achieved) are not statements of historical fact
and may be "forward-looking statements". Forward-looking
statements are subject to a variety of risks and uncertainties
which could cause actual events or results to materially differ
from those reflected in the forward-looking statements.
The forward-looking statements and information in this press
release include, but are not limited to Vox's anticipated outlook
for the 2021 fiscal year, completion of certain anticipated
milestones, transactions and developments by the operators of
certain underlying projects and mines in respect of Vox's royalty
and stream portfolio, anticipated future cash flows, future
financial reporting by Vox, the receipt of payments from Vox's
mining royalty and streaming portfolio, the requirements for
regulatory approvals and third party consents, and the completion
of mine construction, production and expansion under construction
phases at the mines or properties that Vox holds an interests
in.
Forward-looking statements and information are based on
forecasts of future results, estimates of amounts not yet
determinable and assumptions that, while believed by management to
be reasonable, are inherently subject to significant business,
economic and competitive uncertainties and contingencies.
Forward-looking statements and information are subject to various
known and unknown risks and uncertainties, many of which are beyond
the ability of Vox to control or predict, that may cause Vox's
actual results, performance or achievements to be materially
different from those expressed or implied thereby, and are
developed based on assumptions about such risks, uncertainties and
other factors set out herein, including but not limited to: the
requirement for regulatory approvals and third party consents, the
impact of general business and economic conditions, the absence of
control over the mining operations from which Vox will receive
royalties, including risks related to international operations,
government relations and environmental regulation, the inherent
risks involved in the exploration and development of mineral
properties; the uncertainties involved in interpreting exploration
data; the potential for delays in exploration or development
activities; the geology, grade and continuity of mineral deposits;
the impact of the COVID-19 pandemic; the possibility that future
exploration, development or mining results will not be consistent
with Vox's expectations; accidents, equipment breakdowns, title
matters, labor disputes or other unanticipated difficulties or
interruptions in operations; fluctuating metal prices;
unanticipated costs and expenses; uncertainties relating to the
availability and costs of financing needed in the future; the
inherent uncertainty of production and cost estimates and the
potential for unexpected costs and expenses, commodity price
fluctuations; currency fluctuations; regulatory restrictions,
including environmental regulatory restrictions; liability,
competition, loss of key employees and other related risks and
uncertainties. Should one or more of these risks, uncertainties or
other factors materialize, or should assumptions underlying the
forward-looking information or statement prove incorrect, actual
results may vary materially from those described herein as
intended, planned, anticipated, believed, estimated or expected.
Vox cautions that the foregoing list of material factors is not
exhaustive. When relying on the Company's forward-looking
statements and information to make decisions, investors and others
should carefully consider the foregoing factors and other
uncertainties and potential events.
Vox has assumed that the material factors referred to in the
previous paragraph will not cause such forward looking statements
and information to differ materially from actual results or events.
However, the list of these factors is not exhaustive and is subject
to change and there can be no assurance that such assumptions will
reflect the actual outcome of such items or factors. The
forward-looking information contained in this press release
represents the expectations of Vox as of the date of this press
release and, accordingly, is subject to change after such date.
Readers should not place undue importance on forward looking
information and should not rely upon this information as of any
other date. While Vox may elect to, it does not undertake to update
this information at any particular time except as required in
accordance with applicable laws.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Notes:
(1)
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These figures have
not been audited and are subject to change. As the Company has not
yet finished its quarter-end close procedures, the anticipated
financial information presented in this press release is
preliminary, subject to final quarter-end closing adjustments, and
may change materially. The Company presents cash operating margin
as it believes that certain investors use this information to
evaluate the Company's performance in comparison to other companies
in the precious metals industry who present results on a similar
basis. Cash operating margin is calculated by subtracting cost of
sales, excluding depletion from revenue.
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SOURCE Vox Royalty Corp.