Vox Royalty – A 5th Producing Royalty Asset And Other Key Operational Partner Updates
Spencer Cole, Executive VP at Vox Royalty (TSX.V:VOX – OTCQX:VOXCF) joins us to recap the news released this morning highlighting some key operational partner updates in the Company’s royalty portfolio. First we discuss the move by Thor Explorations into commercial production at their Segilola gold mine in Nigeria, taking VOX up to 5 producing royalties, out of 54 total royalties. Next we review the work that Jangada is doing to prepare a Feasibility study for Q4 on their Pitombeiras vanadium-iron ore project. We also unpack the high-grade exploration results that Kalamazoo recently put out on their Ashburton project and how that project is moving along in development. We wrap with some general comments about the strength of the royalty business model.
If you have any follow up questions for Spencer please email us at either Fleck@kereport.com or Shad@kereport.com.
It is really nice to see the Jr Royalty companies like VOX starting to get re-rated for their growing revenue profiles. Last year they had 1 producing royalty to start the year, and now they officially have 5 producing royalties. If they are on track to have 7-10 producing royalties in place by the end of 2022, then there is still a great deal of upside to get rerated, even if metals prices just trade sideways. Also, when one compares their revenues to that of some of the other mid-tier royalty names, they have a lot of room to get a valuation more on par with similar revenue profiles.