The royalty portfolio comprises a
Transaction Highlights
- Provides exposure to the production stage
Janet Ivy Mine with significant near-term expansion potential post construction of the 15Mtpa heap leach project at Binduli (with first production scheduled forMarch 2022 ). - Strong additional near-term cashflow potential from Otto Bore, which has been earmarked by former operator
Saracen Mineral Holdings Limited ("Saracen") to provide additional ore feed toNorthern Star's Thunderbox Mill , located 8km to the south of Otto Bore and currently being expanded from 2.5Mtpa to 3.5Mtpa production capacity. - Increases Vox's exposure to established Western Australian-based operating partners in
Northern Star and Norton, each of which operate multiple gold mines and the Thunderbox and Paddington mills, respectively. - Further strengthens Vox's first-mover position as the second largest publicly traded holder of royalty interests in
Australia with an expanded total of 33 Australian royalties; 80% of Vox's royalty and streaming assets are located in "Tier 1" mining jurisdictions with low geopolitical risk (Australia ,Canada andUSA ).
Asset Overview –
Norton's parent company,
Janet Ivy JORC 2012 Compliant Resource & Reserve Estimate as at
Indicated | Inferred | Total | ||||||
Mt | Au (g/t) | Au (oz) | Mt | Au (g/t) | Au (oz) | Mt | Au (g/t) | Au (oz) |
8.36 | 0.87 | 234,000 | 5.25 | 0.92 | 155,000 | 13.61 | 0.89 | 389,000 |
Table 1: Janet Ivy Resources at a cut-off grade of 0.5g/t gold3 |
Probable | ||
Mt | Au (g/t) | Au (oz) |
2.39 | 1.11 | 85,281 |
Table 1: Janet Ivy Total Reserves at a cut-off grade of 0.7g/t gold3 |
Norton in addition on their website report an updated global Indicated and Inferred Mineral Resource estimate of 19.5Mt @ 0.89g/t Au for 561,000oz of gold and a remaining Probable Ore Reserve of 1.75Mt @ 1.06g/t Au for 59,800 ounces of gold.1
For more information on Janet Ivy, please visit the Norton website at https://nortongoldfields.com.au/janet-ivy/.
Asset Overview – Otto Bore
The Otto Bore royalty tenure surrounds
Saracen (now merged with
Otto Bore JORC 2012 Compliant Resource & Reserves Estimate as at
Indicated | Inferred | Total | ||||||
Mt | Au (g/t) | Au (oz) | Mt | Au (g/t) | Au (oz) | Mt | Au (g/t) | Au (oz) |
1.6 | 2.0 | 110,000 | 1.0 | 1.8 | 61,000 | 2.6 | 2.0 | 170,000 |
Table 3: Otto Bore Resources at a cut-off grade of 0.3g/t gold in oxides and 0.5g/t gold in fresh rock |
Probable | ||
Mt | Au (g/t) | Au (oz) |
1.6 | 1.8 | 91,000 |
Table 4: Otto Bore Reserves at a cut-off grade of 0.5g/t gold |
The Resources reported are on a 100% basis for the full Otto Bore deposit. The royalty tenure covers the approximate southern half of the deposit, which includes the full ore reserve and an unquantified portion of the additional resource.
For more information on Otto Bore, please visit the
Transaction Closing
Closing of the Transaction is expected to occur in Q2 2021. Closing of the Transaction will occur following satisfaction of customary conditions. Vox will use current cash on hand to fund the upfront payment of the Transaction.
Qualified Person
About Vox
Vox is a high growth precious metals royalty and streaming company with a portfolio of over 40 royalties and streams spanning nine 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 become the fastest growing company in the royalty sector. Since the beginning of 2019, Vox has announced 20 separate transactions to acquire over 45 royalties.
Further information on Vox can be found at www.voxroyalty.com.
Cautionary Note Regarding Forward Looking Information
This news release contains certain forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate" "plans", "estimates" or "intends" or stating that certain actions, events or results " may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be "forward-looking statements". 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.
The forward-looking statements and information in this press release include, but are not limited to, statements regarding expectations for the acquired royalties and projects and estimates of project success, and the ability of Vox to complete the acquisition. Such statements and information reflect the current view of Vox. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause Vox's actual results, performance or achievements or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
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 in the previous paragraph 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
Technical and Third-Party Information
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.
Technical References & Notes:
(1) | Norton website: https://nortongoldfields.com.au/janet-ivy/ |
(2) | Zijin Mining Group Co., Limited - Hong Kong Stock Exchange News Release titled "Announcement in relation to Plan to Expand Gold Production of Longnan Zijin and |
(3) | |
(4) | Saracen Mineral Holdings Limited ASX News Release titled "Reserves increase 32% to 3.3Moz underpinning 400,000ozpa for 7+ years" dated |
(5) | Saracen Mineral Holdings Limited ASX News Release titled "Strong start to FY20 exploration campaign paves way for further inventory growth" dated |
(6) | Northern Star Resources Ltd & Saracen Mineral Holdings Limited News Release titled: "Scheme Booklet registered with ASIC; Independent Expert concludes proposed merger is fair and reasonable, and in the best interests of Saracen shareholders" dated |
SOURCE
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