Vox Royalty to acquire Australian royalty portfolio for A$4.7M

Vox Royalty has executed a binding agreement dated February 12, 2024, to acquire a portfolio of up to four royalties at various stages of development including: construction, development and exploration stages and the rights to one production-linked milestone payment, all located in Australia, from a private Australian group, for cash consideration of up to A$4,700,000. Transaction Highlights: Addition of up to four advanced Australian royalties and the rights to one production-linked milestone payment in Western Australia and New South Wales, heavily weighted to gold and copper; Potential for near-term revenue from the construction-stage Castle Hill gold project in Western Australia, operated by Evolution Mining, which is a key part of the A$250M Mungari Mine Life Extension project and mill expansion to 4.2Mtpa announced by Evolution on 5 June 2023; Further production potential from the past-producing Kunanalling gold project, which is located less than 15km from the Mungari Mill and also part of Evolution’s integrated Mungari 4.2 Project;Provides critical metals exposure to copper, cobalt and rare earth metals across the Halls Creek and Broken Hill exploration projects; and Strengthens Vox’s proportion of royalty assets located in lower risk political jurisdictions of Australia, Canada and USA, totalling more than 80% of all royalty assets. Closing of the Transaction is expected to occur prior to the end of Q1 2024, following satisfaction of customary conditions as well as execution and delivery of standard transaction documentation. Vox will use current cash on hand to fund the payment of the cash consideration for the Transaction. A number of royalties in the portfolio are subject to rights of first refusal, which are typical for the transfer of royalties of this nature.