Royalty Companies

  • EMX Executes Agreement to Sell Råna Battery Metal Project in Norway to Kingsrose Mining

    https://www.newsfilecorp.com/release/157264
    Vancouver, British Columbia--(Newsfile Corp. - March 6, 2023) - EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the "Company" or "EMX") is pleased to announce the execution of an agreement to sell its Råna battery metal project in Norway (the "Project") (see Figure 1) to Kingsrose Mining Limited, a publicly traded ASX-listed company. The agreement provides EMX with cash payments and work commitments during a one-year option period, and upon exercise of the option, EMX will receive additional work commitments, advance royalty payments, milestone payments and a 2.5% NSR royalty.


    [Blockierte Grafik: https://images.newsfilecorp.com/files/1508/157264_901fd7910403da29_002.jpg]


    Figure 1: Project Location Map
    To view an enhanced version of this graphic, please visit:
    https://images.newsfilecorp.co…fd7910403da29_002full.jpg
    [Blockierte Grafik: https://images.newsfilecorp.com/files/1508/157264_901fd7910403da29_003.jpg]


    Figure 2: Råna Project Geologic Map

  • Orogen Royalties Sells Ball Creek West to P2 Gold and Options Ball Creek East to Kingfisher Metals
    https://www.accesswire.com/742…East-to-Kingfisher-Metals
    Orogen creates two new royalties, acquires rights to two additional royalties, and sees advancement of its Hank royalty.
    VANCOUVER, BC / ACCESSWIRE / March 7, 2023 / (TSX.V:OGN)(OTCQX:OGNRF) Orogen Royalties Inc. ("Orogen" or the "Company") is pleased to announce it has signed a purchase and sale agreement (the "Purchase Agreement") with P2 Gold Inc. (TSX.V:PGLD) ("P2 Gold"), and an option agreement (the "Option Agreement") with Kingfisher Metals Inc. (TSX.V: KFR) ("Kingfisher") on the Ball Creek Property in the Golden Triangle in northwest British Columbia, Canada.
    [Blockierte Grafik: https://www.accesswire.com/users/newswire/images/742392/picture2.jpg]

  • [Blockierte Grafik: https://voxroyalty.com/_templates/2/source/img/logo.png]


    VOX ANNOUNCES RECORD 2022 FINANCIAL RESULTS AND INCREASES QUARTERLY DIVIDEND


    Quarterly DividendThe Company is also pleased to announce that its Board of Directors has approved a quarterly cash dividend of $0.011 per common share, representing a 10% increase to the Company’s last quarterly dividend, to be paid on April 14, 2023 to shareholders of record as of the close of business on March 31, 2023.

  • Sailfish Royalty Declares Q1 2023 Dividend

    https://www.newsfilecorp.com/release/158431


    Tortola, British Virgin Islands--(Newsfile Corp. - March 14, 2023) - Sailfish Royalty Corp. (TSXV: FISH) (OTCQX: SROYF) (the "Company" or "Sailfish") is pleased to announce that its Board of Directors has declared the Company's first quarterly cash dividend for 2023 in the amount of US$0.0125 per common share that will be payable on April 17, 2023 to Sailfish shareholders of record as of the close of business on March 31, 2023.

  • Eagle Plains Provides Corporate Update, Future Outlook


    https://www.eagleplains.com/ne…ease&utm_campaign=spinout

    March 14, 2023
    Cranbrook, B.C., March 14, 2023: Management of Eagle Plains Resources Ltd. (TSX-V:EPL) ("EPL", "Eagle Plains" or the “Company”) is pleased to provide information regarding important developments relating to the Company and to inform shareholders on significant upcoming events.


    Highlights:
    Milestones:

    • Arrangement Agreement, Amalgamation Agreements executed relating to proposed spin out of Eagle Royalties, expected Record Date March 17th, 2023 (NR Mar 1, 2023);
    • Significant mineralization reported on 100% owned Vulcan Property (NR Dec 7, 2022);
    • Multiple lithium-related projects recently acquired (NR Mar 2, 2023);
    • Eagle Plains holds over $11M in cash, in addition to substantial investment, real estate assets;
    • Annual net revenues from 100%-owned TerraLogic averaging >$1M/year for past 5 years;
    • Taiga Gold merger generated $3.5M cash to EPL during 2022;
    • Seven active option agreements in place-aggressive exploration planned.

    Outlook:

    • Completion of Eagle Royalties Spin-out expected late April, 2023;
    • Numerous drill programs planned for 2023 (Eagle Plains and partners) including the Vulcan;
    • Continuing EPL project generator model with new British Columbia and Saskatchewan projects;
    • Continuing focus on critical metals, energy metals and precious-metal projects;
    • Terrralogic Exploration Services has confirmed multiple third-party exploration programs for 2023.

    Eagle Royalties Spin-Out


    In late 2022 Eagle Plains announced the formation of Eagle Royalties (“ER”), a wholly-owned subsidiary mandated with managing the extensive royalty assets acquired by Eagle Plains after 30 years of exploration in
    Western Canada. Over 50 royalty assets were subsequently transferred to ER, covering a broad spectrum of commodities including precious-metals, critical-metals (copper, zinc, graphite, lithium, uranium, REE’s),
    diamonds and industrial minerals. Over twenty of these royalty assets are related to lands held by third parties such as Cameco Corp., Iso Energy Corp., Denison Mines Corp., Skeena Resources Ltd. and Hecla Mining Co./Banyan Gold Corp., among many others.


    On January 4th, 2023 Eagle Plains announced its intention to spin-out Eagle Royalties to its shareholders on a 1:3 basis, while concurrently amalgamating with 1386884 BC (“138”), a well-funded private BC corporation, which would facilitate the listing of ER on the Canadian Securities Exchange (“CSE”). The combined corporate entity will be called Eagle Royalties Ltd.


    On March 1st, 2023 EPL announced the completion of an arrangement agreement with ER and execution of a formal amalgamation agreement with 138, paving the way for completion of the transaction and listing. The matter will be put to shareholders at a special meeting planned for late April, with listing planned for early May (subject to court, regulatory and shareholder approvals). On completion of the above transactions, it is
    anticipated that Eagle Royalties Ltd. will commence trading with a healthy treasury holding a minimum of $2.5M in cash.


    Tim Termuende, President, CEO und Director:


    "Wir haben Haywood hinter der Finanzierung für uns und wir werden 30 Cents pro Aktie finanzieren. Dies ist ein vereinbarter Betrag und ein vereinbarter Preis. Als Teil dieses neuen Unternehmens erhalten wir 42 Millionen Aktien des neuen Unternehmens. Von diesen 42 Mio. Aktien werden etwa 36 Mio. im Verhältnis eins zu drei an unsere Aktionäre ausgeschüttet. Eagle Plains wird fast fünfeinhalb Millionen dieser Aktien behalten, und dann werden wir an der CSE notieren."

  • Vox Provides Project Updates Across Gold Royalty Portfolio Assets

    https://www.accesswire.com/744…-Royalty-Portfolio-Assets


    TORONTO, ON / ACCESSWIRE / March 21, 2023 / Vox Royalty Corp. (TSXV:VOX)(NASDAQ:VOXR)("Vox" or the "Company"), a returns focused mining royalty company, is pleased to provide recent North American development and exploration updates from royalty operating partners Treasury Metals Inc. (TSX:TML) ("Treasury"), Alamos Gold Inc. (TSX:AGI) ("Alamos"), and Orla Mining Ltd. (TSX:OLA, NYSE:ORLA) ("Orla"). All amounts are in U.S. dollars unless otherwise indicated.
    Spencer Cole, Chief Investment Officer stated: "We are excited to report promising development progress across key Canadian and US development gold royalties, including the release of the Goldlund-Goliath (gold) pre-feasibility study, major permitting milestones at Lynn Lake (gold), and exploration success at South Railroad (gold). Vox's ~80% weighting to Canada, USA and Australia is further unpinned by the advancement of these North American development projects. In an ever-changing global geopolitical landscape, Vox's growth pipeline in these three Tier 1 mining jurisdictions continues to support management confidence around Vox's long-term value creation for our shareholders."
    Key Updates

    • Treasury announced positive results for its pre-feasibility study ("PFS") over the Goldlund gold project, which is part of the Goliath Gold Complex in Ontario;
    • Major permitting milestones were achieved by Alamos at the Lynn Lake gold project, with the completion of an Environmental Impact Assessment ("EIA") and a positive Decision Statement issued by the Minister of Environment and Climate Change Canada; and
    • Significant South Railroad gold drilling results were announced by Orla, with continued resource expansion exploration drilling scheduled for 2023 in Nevada.


  • [Blockierte Grafik: https://emxroyalty.com/site/templates/img/logo-v2.png]


    EMX Royalty Announces Filing of Annual Report and 2022 Results


    HIGHLIGHTS Financial Updates for the Year Ended December 31, 2022


    • Revenue and other income for the year ended December 31, 2022 was $18,277,000 (2021 –$7,526,000). Adjusted revenue and other income1 of $25,403,000 (2021 - $11,044,000) included $7,126,000 (2021 - $3,518,000) in income for the Company’s share of royalty revenue from the Caserones Mine (effective) royalty interest in Chile.


    • Net income for the year ended December 31, 2022 was $3,349,000 (2021 – loss of $23,731,000).


    • Operating cash flow for the year ended December 31, 2022 was $16,729,000 (2021 - cash used of $8,062,000). Adjusted operating cash flow1from operations for the year ended December 31, 2022 was $21,953,000 (2021 – cash used of $6,356,000).


    • As at December 31, 2022, EMX had cash and cash equivalents of $15,508,000 (December 31, 2021 - $19,861,000), investments, long-term investments and loans receivable valued at $14,561,000 (December 31, 2021 - $18,170,000) and loans payable of $40,489,000 (December 31, 2021 -$50,733,000).



    Neuigkeiten zu Timok-Streitigkeiten


    Am 27. Januar 2022 gab das Unternehmen bekannt, dass es die Einreichung einer Schiedsgerichtsanzeige ausgesetzt hat, um Zijin Mining Group Ltd ("Zijin") in Bezug auf seine Lizenzvereinbarung für das Projekt Timok in Serbien, zu dem auch die produzierende Kupfer- und Goldmine Cukaru Peki gehört. Diese Suspendierung folgte auf die vorherige Suspendierung von EMX Ankündigung seiner Absicht, die Schiedsgerichtsanzeige einzureichen, um den Lizenzsatz formell anzufechten, als gemäß der Lizenzvereinbarung definiert (siehe EMX-Pressemitteilung vom 17. Dezember 2021). Gespräche mit Zijin haben sich seitdem als freundlich und produktiv erwiesen. Beide Unternehmen gehen davon aus, dass sie eine modifizierte Lizenzvereinbarung im Jahr 2023 abschließen können.



    Producing Royalties 6
    Advanced Royalties 11
    Exploration Royalties 155
    Royalty Generation Properties 96



    goldseiten-forum.com/wcf/attachment/188157/goldseiten-forum.com/wcf/attachment/188158/goldseiten-forum.com/wcf/attachment/188159/

  • Equinox Gold Announces up to $200 Million in Gold Prepay and Gold Purchase and Sale Arrangements

    https://www.newsfilecorp.com/release/160251


    ... Gold Purchase and Sale Arrangement
    The Company also signed a non-binding term sheet for a gold purchase and sale arrangement with Sandbox Royalties (the "Sandbox Arrangement") whereby, on closing, the Company will receive a payment of $50 million from Sandbox Royalties in exchange for monthly deliveries equal to the greater of: a) 333 gold ounces and b) gold ounces equal to 1.2% of the monthly gold production from Greenstone Gold Mine (100% basis). Gold deliveries would commence in October 2023 and continue until a total of 60,000 ounces have been delivered. Sandbox will make ongoing cash payments equal to 20% of the spot gold price for each gold ounce delivered. Gold deliveries can be from production from any of the Company's operating mines. Equinox Gold will have the option to buy down up to 75% of the delivery obligation at the then current spot gold price, subject to adjustment for the ongoing payment and a minimum price per ounce of $2,000. The Sandbox Arrangement can be increased to $75 million on mutual agreement of Equinox Gold and Sandbox Royalties.
    Closing of the Sandbox Arrangement is subject to, among other items, execution of a definitive gold purchase and sale agreement, any required consent of the Company's lending syndicate and a financing by Sandbox Royalties. The Sandbox Arrangement will be a related-party transaction as Equinox Gold currently owns approximately 34% of Sandbox Royalties. More information about Sandbox Royalties is available at www.sandboxroyalties.com, which website and information is not incorporated in, and does not constitute a part of, this news release.

    https://www.sandboxroyalties.c…Investor-Presentation.pdf

  • Newmont Completes Sale of Triple Flag Shares

    https://www.businesswire.com/news/home/20230328005942/en/
    DENVER--(BUSINESS WIRE)--Newmont Corporation (NYSE: NEM, TSX: NGT) today announced it completed the sale of its common shares of Triple Flag Precious Metal Corp. (Triple Flag) on the open market for $179 million in net proceeds, after tax. The monetization of Triple Flag’s shares further streamlines and optimizes Newmont’s equity portfolio, while generating cash for the business at fair value.


    ...


    Newmont’s equity interest in Triple Flag originated through the formation of a strategic partnership with Maverix Metals Inc. (Maverix) in 2018. Following the Goldcorp acquisition, Newmont sold additional royalties to Maverix in 2020, which resulted in Newmont owning 42.0 million common shares of Maverix and 5.0 million purchase warrants. In January 2023, Triple Flag completed the acquisition of Maverix, and Newmont received 15.1 million common shares and 1.8 million purchase warrants of the combined company. Prior to the completion of the sale, Newmont held approximately 7.5 percent of the issued and outstanding common shares of Triple Flag for investment purposes.


  • Orogen Royalties Announces Profitable 2022 Fiscal Year End Results

    https://www.accesswire.com/746…2-Fiscal-Year-End-Results


    "Fiscal 2022 marks Orogen's first year of profitability resulting from strong revenue from our royalty and prospect generation business coupled with tight cost controls," commented Orogen's CEO, Paddy Nicol. "The Ermitaño gold-silver mine in Mexico, where Orogen holds a 2% NSR royalty, delivered solid revenue and 2023 guidance from operator First Majestic Silver points to another strong year. We transacted on eight mineral projects that profitably supported our prospect generation business and added eight new royalties. Orogen now holds 44 royalty and mineral property interests including 23 royalties, 14 projects under option, two alliances, and five projects available for option or sale. Finally, we are very encouraged by the recent developments on AngloGold Ashanti's Silicon project in Nevada, where Orogen holds a 1% NSR royalty. Gold and silver resources at the Central-Silicon area continue to display exceptional promise with additional potential to come from the Merlin area, thought to be one of the most significant exploration targets in the greater Silicon camp."


    Fiscal 2022 Year End Highlights
    All amounts are in Canadian dollars unless otherwise stated.

    • Net Income from Operations: Net income was $840,178 or $0.005 per share compared to a net loss of $2,831,445 or $0.02 per share in 2021, representing a $3,671,623 increase in net income. This was due to a significant increase in royalty revenue, a profitable prospect generation business, and a 7% reduction in general and administrative expenses.
    • Royalty Revenue: Royalty revenue of $3,744,776 was earned from the Ermitaño royalty during the fiscal year ended December 31, 2022, with 1,588 attributable gold equivalent ounces ("GEOs") sold at average price of US$1,791 per ounce. This is an increase of $3,135,488 or 515% compared to a revenue of $609,288 earned in 2021. The Company holds a 2.0% uncapped and non-buyable net smelter return ("NSR") royalty on the Ermitaño Mine with First Majestic Silver Corp. ("First Majestic") as the operator that began commercial production in the fourth quarter of 2021.
    • Prospect Generation: Net income of $316,761 from prospect generation activities compared to $288,733 reported in 2021, representing a 10% increase. During the year, the Company recorded $881,118 (2021 - $1,654,845) in revenues and $564,357 (2021 - $1,366,112) in expenses that includes exploration expenditures and impairment costs.
    • G&A Expenses: General and administrative expenses of $3,257,516 were incurred in 2022 compared to $3,508,917 incurred in 2021, representing a 7% reduction.
    • Cash flow: Cash flow of $687,115 was generated from operating activities in 2022 compared to $3,529,230 that was used in operating activities in 2021. Cash flow generated from operating activities, excluding changes in non-cash working capital, was $786,053 in 2022 compared to $2,371,252 that was used in 2021.
    • Working Capital: The Company has working capital of $12,083,375 at December 31, 2022 compared to $10,239,343 at the beginning of the fiscal year. The Company has no long-term debt.

    https://orogenroyalties.com/si…df#viewer.action=download


  • [Blockierte Grafik: https://www.metallaroyalty.com…urce/img/Metalla_Logo.png]


    METALLA REPORTS FINANCIAL RESULTS FOR THE 2022 FISCAL YEAR AND PROVIDES ASSET UPDATES


    • For the year ended December 31, 2022, received or accrued payments on 2,681 attributable Gold Equivalent Ounces (“GEOs”) at an average realized price of $1,765 and an average cash cost of $7 per attributable GEO (see Non-IFRS Financial Measures)


    • For the year ended December 31, 2022, recognized revenue from royalty and stream interests, including fixed royalty payments, of $2.4 million, net loss of $10.9 million, and adjusted EBITDA of negative 1.5 million (see Non-IFRS Financial Measures)


    • For the year ended December 31, 2022, generated operating cash margin of $1,758 per attributable GEO, from the Wharf, El Realito, Joaquin, and COSE royalties, the New Luika Gold Mine (“NLGM”) stream held by Silverback Ltd. (“Silverback”), the Higginsville derivative royalty asset, and other royalty interests (see Non-IFRS Financial Measures)



    Metalla fehlt es leider noch an Cashflow. Ich erinnere mich da noch an die Zeit vor der Pandemie mit Dividendenzahlungen.


    Da sich der Konzentrationsprozess im Royaltysektor meiner Meinung nach fortsetzen wird, sind sie für mich ein
    Übernahmekandidat.

  • [Blockierte Grafik: https://storage.googleapis.com…subaccounts/34370.jpg?v=1]


    Bowdens Silver Project Receives Final Development Approval and Resource Upgrade

    https://www.accesswire.com/747…oval-and-Resource-Upgrade


    TORONTO, ON / ACCESSWIRE / April 4, 2023 / Vox Royalty Corp. (TSXV:VOX)(NASDAQ:VOXR) ("Vox" or the "Company"), a returns focused mining royalty company, is pleased to share a major recent permitting decision and resource update for the Bowdens silver-lead-zinc project in New South Wales, Australia ("Bowdens Silver Project") from its royalty operating partner Silver Mines Limited (ASX: SVL) ("Silver Mines") on April 3, 2023 and March 31, 2023. Vox holds a 0.85% gross revenue royalty on the Bowdens Silver Project and a 1% gross revenue royalty over surrounding regional exploration tenure.
    Riaan Esterhuizen, Executive Vice President - Australia stated: "This final Bowdens development approval and substantial upgrade to 323 million ounces of measured and indicated silver equivalent resource, with a further 73 million ounces of inferred silver equivalent resource, paves the way for a near-term final investment decision for this potential Australian mine with an expected life of up to 23 years. The addition of a maiden gold resource estimate, comprising 96,000 ounces of measured and indicated gold resource, with a further 96,000 ounces of inferred gold resource, adds further organic value to our gross revenue royalty. We eagerly look forward to the release of optimised open-cut mine studies and updated ore reserves by Silver Mines later this year."
    Final Development Approval

    • On April 3, 2023, Silver Mines announced:

      • The Independent Planning Commission of New South Wales ("IPC") has approved the Bowdens Silver Project allowing it to proceed to development and production subject to conditions of consent;
      • This development approval follows comprehensive stakeholder engagement processes by Silver Mines with various Government authorities including the New South Wales Department of Planning and Environment and finally, the IPC;
      • Silver Mines' Managing Director, Anthony McClure, stated:

        • "The IPC's decision is the most significant milestone for the Company since we took over the project in mid-2016";
        • "We now look forward to getting on with delivering the Project. After the significant upgrade to our Mineral Resources as announced last week, the Company is undertaking a significant optimisation program updating the Bowdens Silver Feasibility Study"; and
      • According to Silver Mines, "The mine's 23-year life, including 16.5 years of silver production and by-products of zinc and lead, underpins significant value potential for Bowdens Silver" and "the project has substantial potential expansion opportunities".


  • Trident Royalties Plc("Trident"or the "Company")Admission to Trading on OTCQX in the US
    Trident Royalties Plc (AIM:TRR, OTCQX: TDTRF), the diversified mining royalty company,is pleased to announce that its Ordinary Shares have been approved to trade on the OTCQX Market("OTCQX") in the United States of America (the "US") and will commence trading at the marketopen today under the ticker symbol "TDTRF".


    Admission to Trading on OTCQX in the US

  • Triple Flag Announces Record Metals Sales for Q1 2023 and Results Release Date

    TORONTO--(BUSINESS WIRE)--Triple Flag Precious Metals Corp. (with its subsidiaries, “Triple Flag” or the “Company”) (TSX: TFPM, NYSE: TFPM) announced record revenue of $50.3 million for the first quarter of 2023, translating to record metal sales of 26,599 gold equivalent ounces1 (“GEOs”). All dollar amounts are expressed in US dollars.
    Preliminary Q1 2023 Sales and Revenue
    GEOs Sold and Revenue by Commodity2


    Conference Call Details
    Triple Flag will release its Q1 2023 results on Tuesday, May 9, 2023, after market close. A conference call and live webcast presentation will be held the following day, May 10, 2023, starting at 9:00 a.m. ET (6:00 a.m. PT) to discuss these results. The live webcast can be accessed by visiting the Events and Presentations page on the Company’s website at: www.tripleflagpm.com. An archived version of the webcast will be available on the website for two weeks following the webcast.
    https://www.businesswire.com/news/home/20230413005815/en/

  • Vox Releases Inaugural Investor Letter and Announces Appointment of New Director
    https://www.accesswire.com/750…pointment-of-New-Director
    TORONTO, ON / ACCESSWIRE / April 18, 2023 / Vox Royalty Corp. (TSXV:VOX)(NASDAQ:VOXR) ("Vox" or the "Company"), a returns focused mining royalty company, is pleased to share its inaugural letter to shareholders and welcomes Donovan Pollitt to its Board of Directors. Mr. Pollitt's appointment is subject to regulatory approval by the TSX Venture Exchange.
    Donovan Pollitt is a mining industry executive with over 20 years of experience in operations, management and capital markets. He is currently the President of Pollitt Mining, a management consultancy to mining companies, private equity and institutional investors. Previously, Mr. Pollitt was President and Chief Executive Officer at Wesdome Gold Mines Ltd (TSX: WDO). Mr. Pollitt holds a Bachelor of Applied Science degree in Mining Engineering from the University of Toronto, an MBA from MIT Sloan School of Management, is a Professional Engineer in Ontario and a CFA Charterholder.
    Kyle Floyd, Chief Executive Officer of Vox stated: "On behalf of the Board of Directors and management, we are delighted to welcome Donovan to the Vox Board. Donovan brings a wealth of knowledge with extensive mining and capital markets experience. We look forward to working together and believe his background will further strengthen the Vox Board, as we continue management's commitment to driving investor returns, accretive growth and building long-term shareholder value for the Company. We are also excited to share our inaugural letter to shareholders - reinforcing Vox's principles, recapping recent achievements, reflecting on key lessons learned, and sharing insights on the Company's strategy".
    To view Vox's inaugural letter to shareholders, please visit:
    https://www.voxroyalty.com/_re…23_Shareholder_Letter.pdf

  • Vox Announces Record Revenue in Q1 2023 and Provides 2023 Revenue Guidance

    https://www.accesswire.com/751…des-2023-Revenue-Guidance


    TORONTO, ON / ACCESSWIRE / April 27, 2023 / Vox Royalty Corp. (TSXV:VOX)(NASDAQ:VOXR)("Vox" or the "Company"), a returns focused mining royalty company, is excited to announce that it has realized record preliminary revenue(1) of $3,580,000 for the three-month period ended March 31, 2023 (compared to $1,471,000 for the comparable period in 2022).
    Record Q1 2023 Preliminary Revenue
    Record quarterly revenue of $3,580,000 was largely driven by royalty revenue from the Company's Wonmunna and Koolyanobbing iron ore royalties in Australia, as well as its Segilola gold royalty in Nigeria. Royalty revenue for the quarter also benefitted from strong iron ore prices during the period. These preliminary results should be read in conjunction with the Company's unaudited condensed interim consolidated financial statements for the three-month period ended March 31, 2023, as and when released.
    Kyle Floyd, Chief Executive Officer stated: "We are thrilled to announce record preliminary quarterly revenue of nearly $3.6M, which is equivalent to our annual royalty revenue for the full 2021 fiscal year. The Vox royalty portfolio continues to outperform management's high expectations, underpinned by growing royalty revenue from Western Australia. We look forward to building on this strong momentum in the coming quarters with significant potential upside linked to expansions of existing operations and new mine developments. We are also pleased to share revenue guidance of $11M - $13M for 2023, building on the strength of over 160% annual growth in 2022 royalty receipts, which reflects the ongoing embedded growth in Vox's royalty portfolio."
    2023 Revenue Outlook
    In 2023, Vox estimates royalty revenue to total $11,000,000 - $13,000,000. Revenue growth over the prior year is expected to come from the existing producing royalty assets in the Company's portfolio, including a full year of royalty revenue from the Company's Wonmunna iron ore royalty (acquired in Q2 2022) and the expected commencement of production at additional royalty-linked gold mines in Western Australia.


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