Business
Vox Royalty Announces Record Revenue in Q1 2023 and Provides 2023 Revenue Guidance
All amounts in U.S. dollars unless otherwise indicated TORONTO, ON / ACCESSWIRE / April 27, 2023 / Vox Royalty Corp. (TSXV:VOX) (NASDAQ:VOXR) ("Vox" or the "Com
About this update from Vox Royalty Corp
[{"type":"text","content":" All amounts in U.S. dollars unless otherwise indicated TORONTO, ON / ACCESSWIRE / April 27, 2023 / Vox Royalty Corp. (TSXV:VOX) (NASDAQ:VOXR) (\"Vox\" or the \"Company\"), a returns focused mining royalty company, is excited to announce that it has realized record preliminary revenue(1) of $3,580,000 for the three-month period ended March 31, 2023 (compared to $1,471,000 for the comparable period in 2022). Record Q1 2023 Preliminary Revenue Record quarterly revenue of $3,580,000 was largely driven by royalty revenue from the Company's Wonmunna and Koolyanobbing iron ore royalties in Australia, as well as its Segilola gold royalty in Nigeria. Royalty revenue for the quarter also benefitted from strong iron ore prices during the period. These preliminary results should be read in conjunction with the Company's unaudited condensed interim consolidated financial statements for the three-month period ended March 31, 2023, as and when released. Kyle Floyd, Chief Executive Officer stated: \"We are thrilled to announce record preliminary quarterly revenue of nearly $3.6M, which is equivalent to our annual royalty revenue for the full 2021 fiscal year. The Vox royalty portfolio continues to outperform management's high expectations, underpinned by growing royalty revenue from Western Australia. We look forward to building on this strong momentum in the coming quarters with significant potential upside linked to expansions of existing operations and new mine developments. We are also pleased to share revenue guidance of $11M - $13M for 2023, building on the strength of over 160% annual growth in 2022 royalty receipts, which reflects the ongoing embedded growth in Vox's royalty portfolio.\" 2023 Revenue Outlook In 2023, Vox estimates royalty revenue to total $11,000,000 - $13,000,000. Revenue growth over the prior year is expected to come from the existing producing royalty assets in the Company's portfolio, including a full year of royalty revenue from the Company's Wonmunna iron ore royalty (acquired in Q2 2022) and the expected commencement of production at additional royalty-linked gold mines in Western Australia. About Vox Vox is a returns focused mining royalty company with a portfolio of over 60 royalties and streams spanning eight jurisdictions. The Company was established in 2014 and has since built unique intellectual prope...