A Disciplined and Focused Approach to Mining Royalties
Vox Royalty is a precious metals focused, mining royalty and streaming business. The company is creating a portfolio of cash generating mining and development stage royalties that should generate significant economic returns over the long-term.
We estimate that around 12% of Vox’s NAV comes from the four production stage assets and based on the existing portfolio this is expected to increase to 17% in 2021 and 21% in 2022, from nine production-stage assets.
Vox has adopted a disciplined and focused approach to building its business that focuses on acquiring royalties where it can see long-term value being returned. The portfolio currently contains 42 royalties.
The management team at Vox has over 30 years of royalty, streaming and technical experience. This team has been involved in over US$1.5bn of royalty transactions and an additional US$1 bn of mining transactions.
Vox separates itself from its peer group through the use of its own proprietary royalty database. This intellectual property gives the company a competitive advantage for sourcing quality deals at attractive valuations, relative to its junior royalty peer group.
This advantage is highlighted by the fact that the majority of deals completed by Vox have been bilateral, i.e. between Vox and the vendor, which means they were not competing with other royalty companies.