Kyle Floyd, CEO and Chairman of Vox Royalty (TSX: VOXR) (NASDAQ: VOXR), joins us to review the key metrics and takeaways from Third Quarter financial results, as well as discussing the growth in their pipeline of royalties. We also recap the 6 current cash-flowing royalties, along with 2 near-term producing royalties in the next year, and 2-3 more which are on tap to enter production in the next 2 years.

 Third Quarter 2023 Highlights

• Q3 2023 revenue of $3,514,929 and record year-to-date revenue of $9,313,168 (compared to revenue of $3,181,574 and $6,403,347 for the three and nine months ended September 30, 2022, respectively);
• Record gross profit of $3,109,818 and $7,906,163 for the three and nine months ended September 30, 2023 (compared to $2,463,007 and $5,072,178 for the three and nine months ended September 30, 2022, respectively);
• Q3 2023 net income of $1,046,532 and year-to-date net income of $316,850 (compared to $83,940 and $276,117 for the three and nine months ended September 30, 2022, respectively);
• Generated cash flows from operations of $1,359,501 and $2,929,309 for the three and nine months ended September 30, 2023 (compared to $966,106 and $351,452 for the three and nine months ended September 30, 2022, respectively);
• Strong balance sheet position at quarter end, including: o Cash and accounts receivable of $12,474,468; o Working capital of $9,749,118; and o Total assets of $50,720,916.

Additionally, we discuss another recently announced value driver from on the news on October 25^th highlighting the IP Licensing Agreement, that Vox has granted to Perpetual RoyaltyCo in order to access just the coal royalties in Vox’s proprietary royalty database. This collaboration has the potential to unlock meaningful latent value for Vox shareholders in a nondilutive and opportunistic manner through the receipt of transaction-linked cash fees payable to Vox on successful completion of any database-linked coal royalty acquisition by Perpetual RoyaltyCo.

We wrap up discussing some of the distinguishing advantages Vox Royalty has in discovery optionality within it’s portfolio of 70 royalties, and some thoughts from Kyle on why they are currently trading at a discount to peer royalty companies in the sector.

If you have any follow up questions for Kyle and the team at Vox, then please email us at Fleck@kereport.com  and Shad@kereport.com.

• In full disclosure, Shad is a shareholder of Vox Royalty at the time of this recording.

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