"Q3/20 marked another quarter of tremendous growth and development for the company," CEO Kyle Floyd said in the release. "Vox continues to grow in all key areas as a royalty company. Vox's portfolio continues to build, with world-class operating partners and high-quality royalty assets. Vox received its first revenue from royalties during the quarter, and expects a significant ramp-up in revenue over the coming quarters and years."
The company reported development progress on some of the projects on which Vox holds a royalty or stream. At the Hidden Secret deposit in Western Australia, Karora Resources started mining. As for the Mt Ida gold project, also in Western Australia, it and Alt Resources Ltd.'s other assets were acquired by Aurenne Group Holdings, a private Australian equity group. Regarding the Pitombeiras vanadium project in Brazil, Jangada Mines released an NI 43-101-compliant resource estimate for it.
Vox stated that it intends to continue acquiring royalties in Q4/20, targeting near-term producing precious metals assets.
The Toronto-based royalty and streaming firm also announced in the release that the TSX Venture Exchange approved it starting a normal course issuer bid program. As such, Vox may acquire for cancellation up to 1,628,289 shares, 5% of its outstanding share total on Nov. 5, 2020.
"We believe the company is significantly undervalued relative to our peers and other market valuation metrics. The company will purchase shares for cancellation at market prices from time to time over the next 12 months," Floyd added.
Read what other experts are saying about:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Vox Royalty. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Vox Royalty, a company mentioned in this article.