TORONTO, Feb. 10,
2022 /CNW/ - Vox Royalty Corp. (TSXV: VOX)
(OTCQX: VOXCF) ("Vox" or the "Company"), a high
growth precious metals focused royalty company, is pleased to
announce that it has received its maiden monthly royalty payment of
approximately C$116,750 (US$92,100)(1) from a subsidiary of
Thor Explorations Ltd. (TSXV: THX) ("Thor").
Kyle Floyd, Chief Executive
Officer stated: "We are thrilled to share this major first
royalty revenue milestone from Segilola with Vox shareholders.
Based on production estimates from Thor, we expect that this
royalty has the potential to generate revenue almost five times
Vox's initial investment of C$900,000
within a span of three years. Thor management are to be
congratulated for successfully constructing and commissioning
Nigeria's first commercial gold
mine, particularly given the unprecedented supply chain challenges
for greenfield mining development projects."
Highlights
- Received inaugural royalty revenues of US$92,100 from exported sales of gold and payable
silver by-product credits in December
2021 at the Segilola Gold Project;
- On January 10, 2022, Thor
announced that it expects production for Q1 2022 of 20,000 to
22,000 ounces of gold and full year 2022 production of 80,000 to
100,000 ounces of gold;
- Thor previously announced that Segilola achieved commercial
production on October 5, 2021;
and
- Sales are expected to increase in future months as Segilola
continues to operate and export at steady state rates.
About Vox
Vox is a high growth precious metals royalty and streaming
company with a portfolio of over 50 royalties and streams spanning
eight jurisdictions. The Company was established in 2014 and has
since built unique intellectual property, a technically focused
transactional team and a global sourcing network which has allowed
Vox to become the fastest growing company in the royalty sector.
Since the beginning of 2019, Vox has announced over 20 separate
transactions to acquire over 45 royalties.
Further information on Vox can be found at www.voxroyalty.com.
Cautionary Note Regarding Forward Looking Information
This news release contains certain forward-looking
statements. Any statements that express or involve discussions with
respect to predictions, expectations, beliefs, plans, projections,
objectives, assumptions or future events or performance (often, but
not always, using words or phrases such as "believes", "expects" or
"does not expect", "is expected", "anticipates" or "does not
anticipate" "plans", "estimates" or "intends" or stating that
certain actions, events or results " may", "could", "would",
"might" or "will" be taken, occur or be achieved) are not
statements of historical fact and may be "forward-looking
statements". Forward-looking statements are subject to a
variety of risks and uncertainties which could cause actual events
or results to materially differ from those reflected in the
forward-looking statements.
The forward-looking statements and information in this press
release include, but are not limited to, Vox's anticipated lifetime
revenue from the Segilola project and anticipated future cash
flows, the ability of the project operator to continue to meet
publicly available production guidance and execute sales of its
resources, and continued receipt of royalty payments from the
project operator.
Forward-looking statements and information are based on
forecasts of future results, estimates of amounts not yet
determinable and assumptions that, while believed by management to
be reasonable, are inherently subject to significant business,
economic and competitive uncertainties and contingencies.
Forward-looking statements and information are subject to various
known and unknown risks and uncertainties, many of which are beyond
the ability of Vox to control or predict, that may cause Vox's
actual results, performance or achievements to be materially
different from those expressed or implied thereby, and are
developed based on assumptions about such risks, uncertainties and
other factors set out herein, including but not limited to: the
requirement for regulatory approvals and third party consents, the
impact of general business and economic conditions, the absence of
control over the mining operations from which Vox will receive
royalties, including risks related to international operations,
government relations and environmental regulation, the inherent
risks involved in the exploration and development of mineral
properties; the uncertainties involved in interpreting exploration
data; the potential for delays in exploration or development
activities; the geology, grade and continuity of mineral deposits;
the impact of the COVID-19 pandemic; the possibility that future
exploration, development or mining results will not be consistent
with Vox's expectations; accidents, equipment breakdowns, title
matters, labor disputes or other unanticipated difficulties or
interruptions in operations; fluctuating metal prices;
unanticipated costs and expenses; uncertainties relating to the
availability and costs of financing needed in the future; the
inherent uncertainty of production and cost estimates and the
potential for unexpected costs and expenses, commodity price
fluctuations; currency fluctuations; regulatory restrictions,
including environmental regulatory restrictions; liability,
competition, loss of key employees and other related risks and
uncertainties. Should one or more of these risks, uncertainties or
other factors materialize, or should assumptions underlying the
forward-looking information or statement prove incorrect, actual
results may vary materially from those described herein as
intended, planned, anticipated, believed, estimated or expected.
Vox cautions that the foregoing list of material factors is not
exhaustive. When relying on the Company's forward-looking
statements and information to make decisions, investors and others
should carefully consider the foregoing factors and other
uncertainties and potential events.
Vox has assumed that the material factors referred to in the
previous paragraph will not cause such forward looking statements
and information to differ materially from actual results or events.
However, the list of these factors is not exhaustive and is subject
to change and there can be no assurance that such assumptions will
reflect the actual outcome of such items or factors. The
forward-looking information contained in this press release
represents the expectations of Vox as of the date of this press
release and, accordingly, is subject to change after such date.
Readers should not place undue importance on forward looking
information and should not rely upon this information as of any
other date. While Vox may elect to, it does not undertake to update
this information at any particular time except as required in
accordance with applicable laws.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Technical References
& Notes:
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(1)
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These figures have not
been audited and are subject to change. As the Company has not yet
finished its quarter-end
close procedures, the anticipated financial information presented
in this press release is preliminary, subject to final
quarter-end closing adjustments, and may change
materially.
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SOURCE Vox Royalty Corp.