Vox Royalty Acquires Cash-Flowing Kanmantoo Copper-Gold Royalty in South Australia
https://www.accessnewswire.com/newsroom/en/metals-and-mining/vox-royalty-acquires-cash-flowing-kanmantoo-copper-gold-royalty-in-south-australi-1027896
Transaction Highlights
Fully operational underground copper-gold mine in South Australia that is expected to produce 12,000t - 14,000t copper in 2025 with meaningful gold and silver byproduct credits;
The Kanmantoo underground mine is located 55km from Adelaide and successfully operated as a series of open pits from 2010 to 2020, producing around 137,000t of copper and over 55,000 oz of gold. Mining from the underground operation commenced in May 2023, with commercial production declared in July 2024;
Extensive established infrastructure in place following initial capital investment of A$200 million between 2010 and 2020, with significant expansion potential with 3.6Mtpa processing plant currently ~40% utilized;
Provides Vox shareholders with immediate copper revenue exposure and further strengthens Vox's industry-leading proportionate weighting of royalty assets to Australia;
Current total resource as at September 30, 2024 comprises 8.8Mt @ 0.81% Cu, 0.13g/t Au Measured & Indicated and 10.1Mt @ 0.73% Cu, 0.14g/t Au Inferred (1)
Significant exploration upside potential, as demonstrated by the Kanmantoo Region JORC-2012 Exploration Target (1) of 25Mt - 40Mt @ 0.7% - 1.4% Cu and 0.05 - 0.5g/t Au as of February 13, 2025;
60,000m drilling program for 2025 well underway, which is expected to yield an updated mineral reserves and resource estimate later in 2025, potentially supportive of a mine life extension;
Contractors currently at site to commence an accelerated development of the gold-dominant Nugent deposit underground decline, as part of the company's production growth strategy for 2025, with first ore from Nugent expected in Q4-2025. Underground grade control drilling at Nugent returned the following results (4) :
18.55m @ 5.69% Cu + 1.02g/t Au (uncut) from 187m downhole (hole 24KVUG0476); and
16.00m @ 2.96% Cu + 0.42g/t Au (uncut) from 197m downhole (hole 24KVUG0503)