Gold Price: $1,792/oz
TSXV: VOX
Last: 3.65
Change: -0.14

Royalties & Streams

Portfolio Summary

Vox’s portfolio is predominantly geared towards precious metals royalties which make up over 70% of our portfolio weighting by NAV. In addition to our precious metals’ royalties, the Company has underlying exposure to a more diverse array of commodities, including base, battery, and certain bulk commodities. Our portfolio spans four continents but is heavily weighted to Australia and North America where >80% of our assets are located. The company has a track record of buying assets with significant near-term growth and development catalysts.

Vox has both immediately cash-flowing royalties generating recurring revenue and royalties over several long-life, economically robust development-stage assets with great operating counterparties. In recognizing the potential for huge upside that exploration success can have for royalty holders, we continue to make opportunistic investments and hold an exciting portfolio of royalties over exploration-stage assets.

54

Royalties and Streams

24

Transactions Since 2019

52

Royalties Acquired Since 2019

Portfolio Highlights

Strong weighting to precious metals royalties

Precious metals royalties make up >70% of our portfolio weighting by NAV. Our precious metals exposure includes gold, silver, and platinum groups metals.

Robust and growing organic cash-flow

Royalties over several producing assets producing assets and an organic pipeline of several long-life, economically robust development-stage assets

Track record of investing in royalties with significant growth or expansion catalysts

Our team has a track record of acquiring royalties which later go on to achieve significant resource or production increases post-acquisition

Built in diversification

In addition to our precious metals’ royalties, the Company has underlying exposure to a more diverse array of commodities, including base, battery, and certain bulk commodities.

Exceptionally strong M&A pipeline

Evaluating more than $500m of potential royalty deals, enabled by our proprietary royalty database of over 7,000 royalties.

Producing Mines
Growth Assets
Early Stage

Producing Mines

Project Operator Location Commodity Interest
Brauna Lipari Mineração Ltda Brazil Diamonds 0.5% Gross Sales Royalty
Dry Creek RNC Minerals (TSX:RNX) – renamed Karora Resources (TSX:KRR) Western Australia Gold A$0.73/g gold per tonne of ore (eg. A$1.46/tonne treated for 2.0g/t gold ore) – an effective 0.85% net smelter return royalty
Janet Ivy Norton Gold Fields Pty Ltd. Australia Gold A$0.50/t
Koolyanobbing Mineral Resources Limited Western Australia, Australia Iron Ore 2.0% F.O.B. Royalty
Segilola Thor Explorations Ltd (TSX-V:THX) Nigeria Gold 1.5% net smelter return

Growth Assets

Project Operator Location Commodity Interest
Anthiby Well Hancock Prospecting Australia Iron Ore 0.25% GRR
Ashburton Kalamazoo Resources Ltd (ASX:KZR) Australia Gold 1.75% GRR (>250koz Au production)
Bowdens Silver Mines Limited Australia Silver, Lead, Zinc 0.85% Gross Revenue Royalty
British King BK Gold Mines Ltd Australia Gold 1.5% NSR Royalty (first 10,000oz Au) converting to a 5.25% stream on gold
Brits Bushveld Minerals South Africa Vanadium 1.75% Gross Sales Royalty (or ~C$1.03/t annual cap)
Bullabulling Norton Gold Fields Pty Ltd. Australia Gold A$10/oz
Bulong Black Cat Syndicate (ASX:BC8) Western Australia Gold 1.0% NSR Royalty
Kangaroo Caves Venturex Resources Australia Zinc, copper A$0.80/t ore production
Lynn Lake (MacLellan) Alamos Gold Manitoba, Canada Gold 2% Gross Proceeds (post capital recovery)
Montanore Hecla Mining Montana, USA Silver and copper US$0.20/t
Mt Ida Alt Resources Western Australia, Australia Gold 1.5% NSR (>10koz production)
Otto Bore Northern Star Resources Australia Gold 2.5% NSR (42,000-100,000oz production)
Pedra Branca ValOre Metals Inc. Brazil Nickel Sulfides, Platinum Group Metals, Cobalt, Gold 1.0% NSR Royalty
South Railroad Gold Standard Ventures USA Gold 0.633% NSR + advance royalty payments
Sulphur Springs Venturex Resources Australia Zinc, copper A$2/t ore production
Uley Quantum Graphite Limited (ASX:QGL) South Australia Graphite 1.5% Gross Revenue
Yellow Giant MCC Canadian Gold Ventures Canada Gold-silver Stream on 100% of silver produced

Early Stage

Project Operator Location Commodity Interest
Alce Titan Minerals Peru Copper, gold 3% GRR
Barabolar Silver Mines Limited Australia Silver, Lead, Zinc 1.0% Gross Revenue Royalty
Bulgera Norwest Minerals Limited Australia Gold 1% NSR
Comet Gold Accelerate Resources Limited Australia Gold 1% NSR
Forest Reef Newcrest Mining Australia Gold, copper 1.5% NSR
Glen Sinosteel Midwest Australia Iron ore 0.2% FOB
Green Dam St Barbara Australia Gold 2.0% NSR
Holleton St Barbara Australia Gold 1.0% NSR
Kelly Well Dacian Gold Limited Earn-In Australia Gold 1.0% NSR Royalty
Kenbridge Tartisan Nickel Corp. Ontario, Canada Nickel, copper and cobalt 1% NSR (fully buyback C$1.5M)
Kookynie (Consolidated Gold) Nex Metals Limited (under earn-in by Metalicity Limited) Australia Gold A$1/t Ore Production Royalty
Kookynie (Melita) Genesis Minerals Ltd (ASX:GMD) Australia Gold A$1/t Ore Production Royalty
Las Antas Titan Minerals Peru Copper, gold 2% GRR
Lynn Lake (Nickel) Corazon Mining Ltd Manitoba, Canada Nickel, copper and cobalt 2% Gross Proceeds (post capital recovery)
Merlin Northern Star Resources Australia Gold 0.75% gross revenue royalty (>250Koz Au production)
Mexican Royalties Privately held Mexico Lead, Zinc, Silver and Gold 1.0% NSR Royalty
Millrose Jindalee Resources Limited Australia Gold 1.0% Gross Revenue Royalty
Montana Royalties Privately held United States Copper, Gold and Silver 1.5% NSR Royalty
Mount Monger Mt Monger Resources Ltd Australia Gold 1% NSR
Mt Moss Curtain Bros QLD Australia Zinc, copper, iron, silver 1.5% net smelter royalty
New Bore Dacian Gold Limited Earn-In Australia Gold 1.0% NSR Royalty
Ptombeiras Jangada Mines Plc. Brazil Vanadium, Titanium, Iron Ore 1.0% NSR Royalty
Thaduna Sandfire Resources Australia Copper 1.0% NSR
Volga Novel Mining Australia Copper 2% GRR
West Kundana Northern Star Resources Limited (75%) and Tribune Resources NL (25%) Australia Gold Sliding scale 1.5% to 2.5% NSR royalty
West Malartic (Chibex South) Agnico Eagle Mines Limited Canada Gold 0.66% NSR
Yamarna Gold Road Resources Australia Gold A$7.50/oz discovery payment

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