Business
Vox Royalty Announces Record Quarterly Revenues In 2022 First Quarter Results
TORONTO, May 24, 2022 /CNW/ - Vox Royalty Corp. (TSXV: VOX) (OTCQX: VOXCF) ("Vox" or the "Company"), a returns focused precious metals royalty company, is pleas
About this update from Vox Royalty Corp
[{"type":"text","content":" TORONTO, May 24, 2022 /CNW/ - Vox Royalty Corp. (TSXV: VOX) (OTCQX: VOXCF) (\"Vox\" or the \"Company\"), a returns focused precious metals royalty company, is pleased to announce its operating and financial results for the first quarter ended March 31, 2022. All amounts are in U.S. dollars unless otherwise indicated. Kyle Floyd, Chief Executive Officer stated: \"The first quarter of 2022 was incredibly productive for Vox, with record quarterly revenues and gross profit, significant organic growth in development stage assets and the progression of an initial application to list on The Nasdaq Stock Market. I am excited about the next chapter of the Company's corporate development – a period of expanded investor awareness and rapid organic growth from 5 to 10 producing assets by late 2023. During these uncertain inflationary and macroeconomic times, Vox continues to deliver sector leading returns on deployed capital through its differentiated and disciplined royalty strategy and presents as a strong outlet for investors to counter many inflationary pressures.\" First Quarter 2022 Highlights Record revenues for the quarter of $1,471,019, an increase of 172% over Q1 2021; Record gross profit of $1,164,293 for the quarter; Strong balance sheet position at quarter end, including cash on hand of $5,621,565, working capital of $6,371,247 and total assets of $27,008,128; Released its inaugural Asset Handbook for best practice investor transparency; Announced submission of an initial application to list its common shares on The Nasdaq Stock Market; Significant operating partner updates in Q1, including: Feasibility study released by Gold Standard Ventures for the South Railroad gold project in Nevada; 106% increase in mineral resource by ValOre Metals at the Pedra Branca platinum group element project in Brazil; Maiden Puzzle North gold resource estimate from Genesis Minerals in Western Australia; and 113% increase in gold resource estimate from Norwest Minerals at the Bulgera gold project in Western Australia. Subsequent to First Quarter 2022 Completed the acquisition of a portfolio of two PGM royalties from a private, South African registered company for total consideration of up to C$10,400,000, including upfront consideration of C$1,500,000, settled by the issuance of 409,500 common shares of Vox; On April 26, 2022, Vox ente...