Business
Vox Royalty Announces Record Revenue in Q2 2021 and Increases 2021 Revenue Guidance by +100%
TORONTO, July 27, 2021 /CNW/ - Vox Royalty Corp. (TSXV: VOX) ("Vox" or the "Company"), a high growth precious metals focused royalty company, is pleased to anno
About this update from Vox Royalty Corp
[{"type":"text","content":" TORONTO, July 27, 2021 /CNW/ - Vox Royalty Corp. (TSXV: VOX) (\"Vox\" or the \"Company\"), a high growth precious metals focused royalty company, is pleased to announce that it has realized record preliminary quarterly royalty revenue of C$1,628,600 (US$1,314,000)(1) for the three-month period ended June 30, 2021. During the quarter, the Company recognized inaugural royalty revenue from its Janet Ivy gold royalty, acquired on March 29, 2021, which is an uncapped A$0.50 per tonne royalty. Quarterly revenue benefitted from increased royalty-linked production by Mineral Resources Limited (ASX: MIN) at Koolyanobbing, increased production by Karora Resources Inc. (TSX: KRR) from the Hidden Secret deposit at Higginsville covered by the Dry Creek royalty, inaugural royalty revenues earned from the Janet Ivy royalty, and increased production by the operator of the Brauna royalty. Vox has successfully grown quarterly revenue figures exponentially since Q3 2020, which is summarized in the below chart: Three months ended September 30, 2020 Three months ended December 31, 2020 Three months ended March 31, 2021 Three months ended June 30, 2021 Royalty revenue (C$) $13,675 $147,659 $668,600 $1,628,600 Royalty revenue (US$) $10,252 $115,975 $539,980 $1,314,000(1) Royalty revenue % growth 1,031% 366% 143% # of producing assets 1 2 3 4 Kyle Floyd, Chief Executive Officer stated: \"This is the continuation of an exciting period in Vox's growth as revenue and profitability metrics start to reflect the true earnings power of the Vox royalty portfolio. We have consistently updated the market with operator updates concerning our royalty assets and noted that our portfolio continues to grow ahead of expectations. The coming quarters and years should continue to reflect a robust increase in revenues from both in production assets and development stage projects we expect to come online.\" 2021 Revised Outlook On April 13, 2021, the Company announced that it expected 2021 annual royalty revenues to total C$1,700,000 – C$2,500,000. The Company is pleased to announce that it now expects 2021 royalty revenues to double to C$4,000,000 – C$5,000,000. The Company's two-fold increase in 2021 revenue guidance is based on public forecasts and other disclosure by the third-party owners and operators of its assets or management's assessment...