VOX:TSX.V

Vox Royalty Corp.

Vox is a growth and precious metals focused mining royalty and streaming company with a portfolio of 41 royalty and streaming assets. Vox's interests span seven jurisdictions, including Australia, Canada, Peru, Brazil, Mexico, U.S. and Madagascar. Vox has been the fastest growing royalty company since January 2019, announcing 15 separate royalty transactions. Vox's exponential growth is enabled by the world’s largest proprietary royalty database of >7000 royalties and a technically focused management team of geologists and mining engineers strategically located in global mining centers.

VOX:TSX.V

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Expert Comments:

Firm Agrees to Buy South African Vanadium Royalty for US$2 Million
(12/1/20)

Vox Royalty Corp. has entered into a binding agreement to acquire a royalty over a portion of Bushveld Minerals Ltd.'s Brits Vanadium Project located in South Africa.

Eric Coffin, HRA Journal

(12/1/20)

"Vox Royalty Corp. announced it is acquiring a royalty over part of the Brits vanadium project in South Africa, currently being operated by Bushveld Minerals Ltd. . .the royalty is a 1.75% sales royalty. . .while this not a producing royalty or a precious metal one, it looks like Vox got a good deal."

David Davidson, Paradigm Capital

(11/26/20)

"Vox Royalty Corp. announced a binding agreement to acquire a royalty over a portion of Bushveld Minerals' Brits vanadium project for total consideration of US$2M. . .Vox will receive a 1.75% gross sales royalty in respect of all products mined from Brits. . .we are increasing our target price."

Derek Macpherson, Red Cloud Securities

(11/26/20)

"Vox Royalty Corp. announced that it has entered into a binding agreement to acquire what is effectively a tonnage royalty on the Brits vanadium project in South Africa. . .this royalty is expected to start paying in 2021, adding some needed near-term revenue ($470K/year) and has once again been bought at a discount to where royalty transactions typically occur (at 0.3x net asset value)."

Royalty Company Reports Quarter of 'Tremendous Growth and Development'
(11/25/20)

Vox Royalty recognized inaugural royalty revenues from the Brauna diamond royalty in Q3.

Mike Kozak, Cantor Fitzgerald

(11/25/20)

"Vox Royalty Corp. announced a transaction whereby it will acquire a 1.75% gross sales royalty on the Uitvalgrond Portion 3 property, part of Bushveld Minerals' Brits vanadium project. . .this is a royalty transaction that we view as bolstering Vox's already robust longer-term pipeline."

Derek Macpherson, Red Cloud Securities

(11/18/20)

"Vox Royalty Corp.'s main value driver comes from its strong growth potential. Per our current estimates, the company is expected to earn about $7.6M in revenue by 2023. . .we except Vox to continue adding royalties to its portfolio, at a similar rate since it came public this year."

Mike Kozak, Cantor Fitzgerald

(11/17/20)

"Vox Royalty Corp. received inaugural revenues from its Brauna diamond royalty in Q3/20. . .since listing on May 25, 2020, the company has added 13 royalties to its portfolio, with eight of those announced post Q3/20E on Nov. 9 with the purchase of a North American portfolio from a subsidiary of Trafigura (private). Vox now has 46 royalty and streaming assets."

Royalty Company Acquires North American Portfolio

(11/11/20)

This set takes the number of assets Vox Royalty purchased since January 2019 to 40.

Coverage Initiated on Royalty Company with 'High Growth Opportunity'

(9/4/20)

Paradigm Capital calls Vox Royalty "the highest acquisitive story in the industry."

Coverage Initiated on Firm 'Set to Outperform Other New Entrants to the Royalty Space'

(9/3/20)

An investment thesis for Vox Royalty is presented in a Red Cloud Securities report.

Precious Metals Firm Acquires Royalty Interest in South America's Largest Active Diamond Mine

(8/27/20)

Vox Royalty Corp. reported it has entered into a binding agreement to acquire a 0.5% gross sales royalty interest on Lipari Mineração's Brauna Diamond Mine in Bahia, Brazil.

Fastest Growing Precious Metals Royalty Company Scoops Up Overlooked Assets

(8/10/20)

Vox Royalty sees its intellectual property and years of experience in the royalty industry as major competitive advantages.

More Expert Comments

	Derek Macpherson, Red Cloud Securities (11/11/20) "Vox Royalty Corp. announced that it has entered into a binding agreement to acquire the rights to a portfolio of up to eight royalties for CA$980,002 from Breakwater Resources. . .this marks the 15th royalty acquisition the company has made since going public in May and brings the total number of royalties and streams held to 52."

Mike Kozak, Cantor Fitzgerald (11/10/20) "Vox Royalty Corp. announced a binding agreement to acquire a portfolio of up to eight development-stage royalties from Breakwater Resources. . .the transaction is highly accretive to Vox's net asset value per share, which increases to CA$2.47 from CA$2.02 after incorporating the new royalties announced this morning."

David Davidson, Paradigm Capital (11/10/20) "Vox Royalty Corp. announced it has entered into a binding purchase agreement to acquire a portfolio of up to eight royalties from Breakwater Resources. Total consideration for the transaction is about CA$980K. . .all eight royalties are located in Canada or the U.S., are precious and base metal focused and are either in development or exploration stage."

Mike Kozak, Cantor Fitzgerald (10/22/20) "VOX Royalty Corp. is rapidly accelerating up the steep end of the production value/growth curve, where shareholder value and share price appreciation typically occur the quickest under the well-established precious metals royalty/streaming model. We are initiating coverage on the company with a Buy rating and a 12-month target price of CA$3.25/share."

Clive Maund, CliveMaund.com (10/14/20) "The accumulation distribution of Vox Royalty Corp. stock does not confirm breakdown and thus suggests recovery. . .in all probability we have seen the bottom in it. . .the company is rated a Buy here."

Clive Maund, CliveMaund.com (10/10/20) "The good news is that Vox Royalty Corp. appears to have hit bottom on Thursday when a big 'dragonfly doji' appeared on the chart, which should mark the low for the move. It is quite heavily oversold here and looking set to reverse to the upside, so we stay long, and it is rated a Buy here."

Ryan Long, Proactive Investors (9/16/20) "Vox Royalty Corp. is a precious metals focused, mining royalty and streaming business. The company is creating a portfolio of cash generating mining and development stage royalties that should generate significant economic returns over the long-term. . .Vox has adopted a disciplined and focused approach to building its business that focuses on acquiring royalties where it can see long-term value being returned."

David Davidson, Paradigm Capital (9/2/20) "We are initiating coverage of Vox Royalty Corp. with a Buy recommendation. . .our positive outlook stems from our view of the high growth potential related to the company's exclusive database of 7,000 potential transactions, focus on precious metals in mining friendly jurisdictions and an attractive valuation."

	Derek Macpherson, Red Cloud Securities (9/2/20) "We are initiating coverage on Vox Royalty Corp. with a Buy rating and a target price representing 60% upside from the current share price. . .the company is set to outperform other new entrants to the royalty space as it grows organically via previously acquired assets and inorganically through its innovative and lower cost approach."

	Eric Coffin, HRA Journal (8/25/20) "Vox Royalty Corp.'s latest addition is a 0.5% gross sales royalty on the Brauna diamond mine located in Bahia, Brazil. . .I expect the company will generate $200K+ from the royalty. Vox is paying $330K, half shares, half cash, to acquire the royalty, which sounds like a good deal."

	Derek Macpherson, Red Cloud Securities (8/25/20) "Vox Royalty Corp. announced that it has entered into a binding agreement to acquire a producing royalty on Lipari Mineração's Brauna diamond mine in Brazil for CA$330,000 from a private seller; the Brauna royalty is expected to generate immediate cash flow for the company. We note that the Brauna royalty is the sixth royalty acquisition Vox has made since going public in May and brings the total number of royalties and streams held by it to 43."

Derek Macpherson, Red Cloud Securities (7/13/20) "Vox Royalty Corp. announced that it has entered into an agreement to acquire a construction-stage, near-to-production royalty on Thor Exploration's Segilola gold project in Nigeria for CA$900K; the Segilola royalty is expected to generate cash flow for Vox in 2021. The Segilola royalty marks the fifth royalty acquisition the company has made since going public in May."

	Eric Coffin, HRA Journal (7/10/20) "Vox Royalty Corp. has acquired two more royalties in the past month on advanced stage assets. . .the company seems to be making the right moves but not getting much market love for them. . .buy in the current range as Vox continues to build its platform."

	Derek Macpherson, Red Cloud Securities (6/30/20) "Vox Royalty Corp. announced that it has entered into an agreement to acquire a royalty on certain tenements within Black Cat Syndicate's prefeasibility stage Bulong gold project in Australia for AU$750K. This announcement marks the fourth acquisition agreement out of the four that the company had previously indicated it was close to completing when it came public."

Derek Macpherson, Red Cloud Securities (6/16/20) "Vox Royalty Corp. announced that it has entered into two agreements to acquire a 1.5% gross revenue royalty on the Uley graphite project in South Australia for AU$500K and a 1.5% net smelter returns royalty on Strategic Energy Resources' Saxby gold project in Queensland, Australia for US$80K. We are encouraged by Vox's pace and disciplined growth strategy."

	Eric Coffin, HRA Journal (6/12/20) "Vox Royalty Corp. announced the acquisition of a new royalty in the first of what I expect will be several announcements over the next few weeks; as promised, this is a gold royalty and a near production one. The royalty covers part of RNC Minerals' Higginsville mine operation in Western Australia."

	Brien Lundin, Gold Newsletter (Jefferson Financial) (6/1/20) "Vox Royalty Corp. began trading Monday, post a reverse takeover of a shell. This is a hot, eagerly awaited 'new' royalty company that is coming to market at a decent valuation. . .it just announced its first royalty acquisition as a listed company, a royalty over part of RNC Minerals' Higginsville gold operations."

	Derek Macpherson, Red Cloud Securities (5/28/20) "Three days after becoming a public company, Vox Royalty Corp. announced that it has entered into an agreement to acquire a royalty on select tenements within RNC Minerals' Higginsville gold operations. . .the company is focused on acquiring royalties in noncompetitive processes, often using its proprietary database of existing royalties to locate under the radar royalties in areas where exploration is accelerating or new discoveries are being made."

Experts Following This Company

	Eric Coffin, Owner – HRA Journal
David Davidson – Paradigm Capital
Mike Kozak, Analyst – Cantor Fitzgerald
	Brien Lundin, Author – Gold Newsletter (Jefferson Financial)
	Derek Macpherson, VP Mining Analysis – Red Cloud Securities
Clive Maund – CliveMaund.com

The information provided above is from analysts, newsletters and other contributors. Please contact the company and visit its website before making an investment decision.See disclaimer for more details.

Investing Highlights

	Fastest growing royalty company globally – 15 deals in 18 months
	World’s largest proprietary royalty database of >7000 royalties
	Technical team, strategically located globally, with >30 years royalty experience

catalyst Calendar

Q3 2020	First quarterly report – late August 2020
Q3 2020	New royalty acquisitions, averaging one per month
Q3 2020	Organic project development newsflow for existing 41 royalty assets