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Vox Royalty Reports Second Quarter 2021 Results

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Vox Royalty Reports Second Quarter 2021 Results

 

 

 

 

 

Vox Royalty Corp. (TSX-V: VOX) (OTCQX: VOXCF) is pleased to announce its operating and financial results for the second quarter ended June 30, 2021. All amounts are in U.S. dollars unless otherwise indicated.

 

Kyle Floyd, Chief Executive Officer stated: “The second quarter of 2021 saw record royalty revenues, record net incomes and unprecedented organic growth for Vox. Management’s confidence in the underlying performance of the Vox royalty portfolio was demonstrated in our doubling of 2021 annual revenue guidance to C$4M – C$5M. This quarter saw exceptional organic growth in our portfolio, further strengthened by first gold pour from our Segilola royalty asset on July 30. We are also excited to grow our strategic partnership with Electric Royalties Ltd. (TSX-V: ELEC), following the completion of our initial graphite royalty transaction. Vox shareholders can look forward to a catalyst-rich second half of 2021, with construction activity at multiple royalty assets, the release of multiple engineering studies and over 80,000m partner-funded drilling expected.”

 

Second Quarter 2021 Highlights

 

  • Record revenue of $1,314,030 reported for the quarter, with inaugural revenues received from the Janet Ivy royalty;
  • Record net income of $2,057,694 for the quarter;
  • Increased production stage royalty asset count from one asset at May 2020 listing to five assets by end of the quarter;
  • Strong balance sheet position at period end, including cash on hand of $5,308,977, working capital of $8,684,985 and total assets of $30,161,290;
  • Executed binding documents for a strategic partnership with Electric Royalties Limited (TSX-V: ELEC) and divested two non-core graphite royalties;
  • Completed four royalty transactions to acquire an additional seven royalties, including the rancher royalty at Gold Standard Ventures (TSX-V: GSV) South Railroad project, reaching a total critical mass of over 50 royalties and streams;
  • Subsequent to June 30, 2021:
    • Announced record revenue in Q2 2021 and increased 2021 revenue guidance by +100% on July 27, 2021;
    • Increased producing royalty count to 5 assets following first gold pour at the Segilola Gold Mine, as reported by Thor Explorations Ltd on July 30, 2021; and
    • Commenced trading on OTCQX on August 10, 2021

 

 

Summary of Quarterly Results

 

Three months

ended

June 30, 2021

Three months

ended

June 30, 2020

Six months

ended

June 30, 2021

Six months

ended

June 30, 2020

$ $ $ $
Statement of income (loss) and comprehensive income (loss)
Revenues 1,314,030 1,854,010
Gross profit 1,053,487 1,532,758
Net income (loss) 2,057,694 (4,155,243) 1,440,277 (5,195,006)
Net income (loss) per share 0.05 (0.15) 0.04 (0.20)

 

For complete details, please refer to the Unaudited Condensed Interim Consolidated Financial Statements for the three and six months ended June 30, 2021 and 2020 and associated Management Discussion and Analysis for the three and six months ended June 30, 2021, available on SEDAR (www.sedar.com) or on the Company’s website (www.voxroyalty.com).

 

About Vox

 

Vox is a 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.

 

Posted August 17, 2021

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