Vox Royalty Corp. (VOX:TSX.V) announced in a news release its achievements in Q3/20, including receipt of its first revenue from one of its royalties, the Brauna diamond project in Brazil.
"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.
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