Vox Royalty Stock Price, News & Analysis

Vox Royalty Corp. (VOXR) is a returns-focused mining royalty and streaming company. According to company disclosures, Vox builds and manages a portfolio of royalties and offtake interests over mining projects rather than operating mines directly. Its assets span multiple jurisdictions and commodities, giving investors exposure to mining projects through royalty and streaming agreements.

The company states that it was established in 2014 and has since assembled a portfolio that has grown to over 80 assets spanning eight jurisdictions, based on recent news releases. Earlier descriptions referenced portfolios of over 60 and then over 70 royalties and streams, reflecting an active acquisition program. Vox highlights that it has announced more than 25 separate transactions to acquire over 60 royalties, and more than 30 transactions to acquire over 70 assets, since the beginning of 2020.

Vox Royalty Corp. is listed on the Nasdaq Capital Market and the Toronto Stock Exchange under the symbol VOXR, as noted in multiple press releases and SEC Form 6-K filings. The company identifies itself as a foreign private issuer and files reports with the U.S. Securities and Exchange Commission under Form 40-F and Form 6-K. Its principal executive offices are located in Westminster, Colorado, as disclosed in its SEC filings.

Business model and focus

Vox describes itself as a mining royalty and streaming business that is "returns focused." In its news releases, the company emphasizes acquiring royalties and offtake contracts over projects operated by third-party mining companies. These interests include net smelter return royalties, gross revenue royalties and gold offtake contracts, among others. Vox highlights that it has built unique intellectual property, a technically focused transactional team and a global sourcing network, which it credits with helping it target higher returns on royalty acquisitions in the mining royalty sector.

Recent announcements show Vox acquiring royalties and offtake interests over a range of commodities and stages of development. Examples include a net smelter return royalty over the feasibility-stage Stockman copper-gold-zinc-silver project in Victoria, Australia, and a gross revenue royalty over the Wyloo North iron ore project in the Pilbara region of Western Australia. The company has also agreed to acquire a global gold portfolio of ten gold offtake and royalty assets covering mines and projects in Australia, Brazil, Canada, Côte d’Ivoire, Mali, Mexico, South Africa and the United States.

Portfolio characteristics

Vox’s disclosures indicate a diversified portfolio by jurisdiction, commodity and project stage. The company reports that its assets span eight jurisdictions, with examples in Australia, Brazil, Canada, Côte d’Ivoire, Mali, Mexico, South Africa, the United States and other locations referenced in its news. Its portfolio includes interests over producing mines, development-stage projects and exploration-stage properties. For instance, the global gold portfolio includes producing mines, development projects and exploration-stage royalties, while the Stockman and Wyloo North royalties relate to development and potential future production.

In its news releases, Vox emphasizes exposure to copper, zinc, gold, silver and iron ore through its royalties and offtake contracts. The company notes that the acquired global gold portfolio is entirely gold-related, while other assets such as Stockman and Wyloo North provide exposure to polymetallic and iron ore projects. Vox also references exposure to assets operated by medium to large-cap mining companies, including operators such as Equinox Gold Corp., B2Gold Corp., Gold Fields Limited and Fortescue Metals Group, based on the specific transactions described.

Capital markets and financing activity

Vox Royalty Corp. has been active in the capital markets to fund its acquisition strategy. The company has completed underwritten public offerings of common shares, as described in its September 2025 press releases and related Form 6-K filings. In one transaction, Vox issued common shares at a stated offering price to raise gross proceeds that it intended to use to fund the acquisition of a global gold portfolio. The company also reports maintaining a secured revolving credit facility with Bank of Montreal, which was upsized to provide additional funding capacity for offtake purchases and general corporate purposes.

Vox’s financial reporting, including unaudited condensed interim consolidated financial statements and management discussion and analysis, is furnished to the SEC on Form 6-K. The company reports its results under International Financial Reporting Standards as issued by the International Accounting Standards Board, and notes that these standards differ from U.S. GAAP.

Operations through royalties and streams

As a royalty and streaming company, Vox does not describe itself as directly operating mines. Instead, it holds contractual rights to a portion of production or revenue from mining projects owned and operated by third parties. Examples in its disclosures include:

• A 1.5% net smelter return royalty, reducing to 1.0% after a production threshold, over the Stockman copper-gold-zinc-silver project in Victoria, Australia.
• A 1.5% gross revenue royalty on the first 15 million tonnes of iron ore production from the Wyloo North deposit in Western Australia.
• Gold offtake contracts that entitle Vox to purchase or receive a portion of gold production from mines such as Fazenda, RDM, Santa Luz, Greenstone, Bonikro, Blyvoor, Sugar Zone, Los Filos, Eagle and others, subject to caps and specific terms described in the company’s transaction summaries.
• Royalty interests such as a 3.0% gross return royalty (with an effective rate after third-party obligations) over the St Ives project in Australia and a 1.0% net smelter return royalty over the Dandoko project in Mali.

These structures allow Vox to participate in potential cash flows from mining operations without bearing the direct operating costs and capital expenditures of mine development and operation. The company’s news releases frequently reference potential catalysts at underlying projects, such as feasibility studies, metallurgical testwork, permitting milestones, mine restarts and exploration programs, which may affect future royalty or offtake revenues.

Corporate governance and listings

Vox Royalty Corp. is a public company with its common shares listed on the Nasdaq Capital Market and the Toronto Stock Exchange under the symbol VOXR, as noted in offering and listing announcements. The company’s board of directors and management team oversee its acquisition and portfolio management strategy. Recent news items describe changes to the board, including appointments of directors with backgrounds in mining, capital markets, geology and law.

As a foreign private issuer, Vox files annual reports on Form 40-F and furnishes current reports on Form 6-K to the SEC. These filings incorporate press releases, financial statements, management discussion and analysis, underwriting agreements and other transaction-related documents by reference into the company’s registration statements.

Growth through acquisitions

Vox’s disclosures emphasize growth through acquisitions of royalties, streams and offtake contracts. Since early 2020, the company reports completing numerous transactions to expand its portfolio. Examples include:

• The acquisition of the Wyloo North iron ore royalty in Western Australia.
• The acquisition of a feasibility-stage copper-gold-zinc-silver royalty at Stockman in Victoria, Australia.
• The agreement and subsequent completion of a global gold portfolio acquisition from subsidiaries of Deterra Royalties Limited, covering multiple mines and projects across eight jurisdictions.

Through these transactions, Vox indicates that it has increased the number of producing assets in its portfolio and expanded its exposure to gold and other metals. The company also notes that some acquisitions are funded through equity offerings and an upsized revolving credit facility, while others are funded with cash on hand.

Sector and classification

While the industry classification provided refers to dimension stone mining and quarrying within the broader mining, quarrying, and oil and gas extraction sector, Vox’s own disclosures consistently describe it as a mining royalty and streaming company. Its business model is centered on royalty and offtake interests in metal mining projects, including gold, copper, zinc, silver and iron ore, rather than direct quarrying or operating mines.

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