- Record recognized revenues of
$8,508,105 and record revenue receipts of$9,717,022 (FY 2021 -$3,651,717 and$3,651,717 , respectively); - Record gross profit of
$6,664,087 (FY 2021 -$2,679,125 ); - Record cash flows from operating activities of
$2,047,169 (FY 2021 -$768,346 ); - Strong, debt-free balance sheet position at
December 31 st, including, cash and accounts receivable of$6,174,716 (2021 -$5,610,296 ) and total assets of$41,805,456 (2021 -$27,305,421 ); - Declared an inaugural quarterly cash dividend of
$0.01 per common share onSeptember 20, 2022 , paid to shareholders of record as ofOctober 21, 2022 , which was subsequently followed by the declaration of a quarterly cash dividend of$0.01 per common share onNovember 15, 2022 , paid to shareholders of record as ofDecember 30, 2022 ; - Commenced trading on Nasdaq on
October 10, 2022 ; - Released its inaugural Asset Handbook for best practice investor transparency in
February 2022 ; - Noted significant organic development within the existing royalty portfolio with the commencement of production by Northern Star Resources Limited ("
Northern Star ") at the Otto Bore gold mine and construction completion and loaded commissioning at theBinduli North Gold Mine by Zijin Mining Group Co., Ltd. ("Zijin") inWestern Australia ; - Completed the acquisition of eight royalties plus two royalty options during the year ended
December 31, 2022 , including: - Wonmunna – iron ore royalty, an uncapped 1.25% to 1.50% GRR (payable at 1.50% for >
A$100 /t iron ore pricing), operated by Mineral Resources Limited; and - Limpopo – two PGM royalties, a 1.0% GRR over the
Dwaalkop Project and a 0.704% GRR over theMessina Project , operated by Sibanye Stillwater Ltd.
- Revenue and royalty receipts of
$2,104,758 (Q4 2021 –$574,214 ); - Gross profit of
$1,591,909 (Q4 2021 -$199,656 ); and - Record cash flows from operating activities of
$1,695,717 (Q4 2021 -$417,973 ).
Summary of Quarterly Results
Three months
| Three months
| For the year ended
| For the year
| |
$ | $ | $ | $ | |
Statement of income and comprehensive income | ||||
Revenues | 2,104,758 | 574,214 | 8,508,105 | 3,651,717 |
Gross profit | 1,591,909 | 199,656 | 6,664,087 | 2,679,125 |
Net income (loss) | 52,062 | (4,320,912) | 328,179 | (4,132,019) |
Earnings (loss) per share – basic and diluted | 0.00 | (0.11) | 0.01 | (0.11) |
Dividends declared per share | 0.01 | 0.00 | 0.02 | 0.00 |
For complete details, please refer to the audited consolidated financial statements and associated Management Discussion and Analysis for the years ended
The Company is also pleased to announce that its Board of Directors has approved a quarterly cash dividend of
For shareholders residing in
The Company is also pleased to announce that it has entered into an agreement for services (the "Agreement") with
Vox is a returns focused mining royalty company with a portfolio of over 60 royalties and streams spanning eight jurisdictions. The Company was established in 2014 and has since built unique intellectual property, a technically focused transactional team and a global sourcing network which has allowed Vox to target the highest returns on royalty acquisitions in the mining royalty sector. Since the beginning of 2020, Vox has announced over 25 separate transactions to acquire over 50 royalties.
Further information on Vox can be found at www.voxroyalty.com.
The financial information included or incorporated by reference in this press release or the documents referenced herein has been prepared in accordance with International Financial Reporting Standards as issued by the
This press release contains "forward-looking statements", within the meaning of the
The forward-looking statements and information in this press release include, but are not limited to, statements regarding the payment of a quarterly dividend in Q2 2023 and on any future date thereafter.
Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to materially differ from those reflected in the forward-looking statements, including but not limited to: the impact of general business and economic conditions, the absence of control over mining operations from which the Company expects to receive royalties from, and risks related to those mining operations, including risks related to international operations, government and environmental regulation, actual results of current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined, risks in the marketability of minerals, fluctuations in the price of commodities, fluctuation in foreign exchange rates and interest rates, stock market volatility, as well as those factors discussed in the section entitled "Risk Factors" in the Company's annual information form for the financial year ended
Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statement prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Vox cautions that the foregoing list of material factors is not exhaustive. When relying on the Company's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events.
Vox has assumed that the material factors referred to above will not cause such forward looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The forward-looking information contained in this press release represents the expectations of Vox as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward looking information and should not rely upon this information as of any other date. While Vox may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.
Neither the
Except where otherwise stated, the disclosure in this press release is based on information publicly disclosed by project operators based on the information/data available in the public domain as at the date hereof and none of this information has been independently verified by Vox. Specifically, as a royalty investor, Vox has limited, if any, access to the royalty operations. Although Vox does not have any knowledge that such information may not be accurate, there can be no assurance that such information from the project operators is complete or accurate. Some information publicly reported by the project operators may relate to a larger property than the area covered by Vox's royalty interests. Vox's royalty interests often cover less than 100% and sometimes only a portion of the publicly reported mineral reserves, mineral resources and production of a property.
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