Business
Vox Acquires Pre-Production Plutonic East Gold Royalty in Western Australia
TORONTO, ON / ACCESSWIRE / October 19, 2023 / Vox Royalty Corp. (TSX:VOXR) (NASDAQ:VOXR) ...
About this update from Vox Royalty Corp
[{"type":"text","content":"Vox Acquires Pre-Production Plutonic East Gold Royalty in Western AustraliaTORONTO, ON / ACCESSWIRE / October 19, 2023 / Vox Royalty Corp. (TSX:VOXR)(NASDAQ:VOXR) (\"Vox\" or the \"Company\"), a returns focused mining royalty company, is pleased to announce today that it has completed the acquisition of a gold royalty over a portion of the Plutonic Gold Mine complex in Western Australia (the \"Royalty\"), from an Australian company (the \"Vendor\") for A$1,250,000 (approximately US$800,000).The Plutonic Gold Mine is currently operated by Australian gold producer Catalyst Metals Ltd. (ASX:CYL) (\"Catalyst\"), following their merger with Superior Gold Inc. (\"Superior\") in June 2023. The Royalty covers 11 mining leases adjacent to and in proximity to the Plutonic mill, and is a sliding scale tonnage royalty(1) based on ore feed type and head grade of the mill feed.Riaan Esterhuizen, Executive Vice President - Australia stated: \"We are excited to acquire this pre-production gold royalty in Western Australia that has historically generated more than A$4M of royalty revenue for a purchase price of less than US$1M. The opportunistic timing of this royalty acquisition coincides with Catalyst's recent consolidation of the prolific Plutonic/Marymia Greenstone Belt, a belt which has historically produced over 7 million ounces of gold and is still relatively underexplored below 100m depth. This acquisition increases Vox's exposure to Australia, where more than two-thirds of its royalty assets are located. Over the next few months, we expect Catalyst to release updated resource and reserve estimates, followed by commencement of satellite mining operations within 6 - 24 months.\"Kyle Floyd, Chief Executive Officer added: \"I am pleased to announce the closing of another strategic pre-production gold royalty that further strengthens our portfolio of Australian royalties, at a time when current spot gold prices are elevated above A$3,000/ounce. Our competitive deal-sourcing advantages and discipline in our capital allocation strategy will continue to create long-term value for our shareholders.\"Figure 1 - Plutonic Gold Belt, Plutonic East Royalty Area and existing Vox Bulgera gold royalty area (5)(Base Map Source: https://www.investi.com.au/api/announcements/cyl/18325175-b5a.pdf) Project Overview - Plutonic East (2)(3)(4)The Plutonic East P...