TORONTO - Vox Royalty Corp. (TSX:VOXR)(NASDAQ:VOXR), a mining royalty company, has provided updates on recent developments and explorations by its operating partners, including project ownership changes and work programs that may accelerate production timelines for several precious metal projects.
Vox has reported that Kalamazoo Resources Limited and De Grey Mining Limited have entered into an option agreement for the Ashburton Gold Project in Western Australia. De Grey may acquire the project for A$33 million, with plans to review and test the site, potentially integrating it with their Hemi plant operations. The Ashburton project holds an estimated 1.436 million ounces of gold resources.
In New South Wales, Silver Mines Limited completed a A$10 million capital raise and is working towards a final investment decision for the Bowdens silver project by mid-2024, with development possibly starting later that year. The Bowdens project has been identified as a globally significant silver asset.
Orla Mining Ltd. has announced a C$20 million work program for the South Railroad gold project in Nevada, with activities focused on exploration and advancing project permitting and engineering.
Additionally, Genesis Minerals (ASX:GMD) Limited acquired the Bruno-Lewis and Raeside gold deposits, part of the Cardinia Gold Project, from Kin Mining NL. This acquisition may facilitate the restart of the idled Laverton mill.
Vox holds various royalties in these projects, including a 1.75% gross revenue royalty (GRR) on Ashburton above 250,000 ounces of cumulative production, a 0.85% GRR on Bowdens, and a 0.633% net smelter return (NSR) on South Railroad.
The company's management has expressed confidence in the potential development and production advancements resulting from these updates.
The information is based on a press release statement and public disclosures by the involved companies.
InvestingPro Insights
As Vox Royalty Corp. (TSX:VOXR)(NASDAQ:VOXR) continues to develop its portfolio through strategic partnerships and project developments, the company’s financial metrics provide insights into its valuation and future prospects. According to InvestingPro data, Vox Royalty holds a market capitalization of approximately $94.35 million USD, reflecting investor valuation of the company's overall business.
InvestingPro Tips highlight that Vox Royalty is expected to see net income growth this year, which aligns with the company's recent announcements of project developments that could enhance production timelines. This anticipated growth is further supported by analysts who predict sales growth in the current year, suggesting that the company's revenue streams may strengthen as these projects come to fruition.
Key financial metrics from InvestingPro show that Vox Royalty has a high Price to Earnings (P/E) ratio of 277.69, which has adjusted slightly to 256.08 over the last twelve months as of Q3 2023. This high earnings multiple may indicate investor optimism about future earnings potential, despite the company's current valuation. Additionally, the company's revenue has grown by 63.64% over the same period, demonstrating significant top-line growth.
For investors considering a deeper dive into Vox Royalty's financial health and future outlook, there are 7 additional InvestingPro Tips available at InvestingPro. These tips include insights on the company's cash position, liquidity, profitability, and valuation multiples. To access these insights and more, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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