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Vox Royalty Acquires Australian Gold Royalty Over Cardinia Gold Project And Closes First Quantum Minerals Royalty Portfolio Deal
TORONTO, Nov. 22, 2022 /CNW/ - Vox Royalty Corp. (TSXV: VOX) (NASDAQ: VOXR) ("Vox" or the "Company"), a returns focused mining royalty company, is pleased to an
About this update from Vox Royalty Corp
[{"type":"text","content":" TORONTO, Nov. 22, 2022 /CNW/ - Vox Royalty Corp. (TSXV: VOX) (NASDAQ: VOXR) (\"Vox\" or the \"Company\"), a returns focused mining royalty company, is pleased to announce that it has executed a binding royalty sale and purchase agreement dated November 21, 2022 with Gloucester Coal Ltd (\"Gloucester\") and acquired Gloucester's Cardinia development-stage gold royalty in Western Australia for A$450,000 (approximately US$300,000) cash (the \"Transaction\"). The Company is also pleased to announce that it has completed the acquisition of First Quantum Minerals Ltd.'s (TSX: FM) (\"FQM\") Canadian royalty portfolio, previously announced on November 10, 2022, which closed on November 21, 2022. The acquired royalty, previously produced on a bulk sampling basis, is a 1% Gross Value of Sales royalty above 10,000oz cumulative gold production (~9,100oz remaining hurdle) on mining lease M37/86, which is operated by Kin Mining Ltd (ASX: KIN) (\"Kin\"), and is part of Kin's flagship Cardinia Gold Project, which is located 30km east of Leonora in Western Australia (the \"Cardinia Royalty\"). The Cardinia Royalty was created in 1993 pursuant to an Option Agreement between Sons of Gwalia Ltd and Centenary International Mining Ltd, the latter of which became CIM Resources Ltd, and eventually, Gloucester. Riaan Esterhuizen, Executive Vice President - Australia stated: \"This overlooked 1993 vintage gold royalty is Vox's ideal low-cost acquisition – a fully-permitted and shovel-ready gold project, located in the prolific Leonora district of Western Australia within trucking distance of 4 existing mills with over 10Mtpa processing capacity. This transaction was originated using Vox's proprietary royalty database of over 8,500 royalties, to identify an overlooked gold royalty inherited through a broader 2012 corporate acquisition. Regional consolidation within the Leonora region is underway with Genesis Minerals' acquisition of Dacian Gold and merger talks ongoing between Genesis and St Barbara, all of which bodes well for Kin Mining's prospects at the Cardinia Gold Project.\" Transaction Highlights(1)(2) Provides exposure to the pre-feasibility-stage 1.4Moz (34.5Mt @ 1.27g/t) resource(1) Cardinia Gold Project (\"CGP\") that is strategically located within 100km of 4 existing gold mills (with total processing capacity of over 10Mtpa) in th...