Bushveld is one of the leading vanadium producers with some of the highest primary vanadium grades globally across its three mines. Vox will pay upfront
Transaction Highlights
Exposure to a world-class, high-grade, outcropping vanadium resource, located adjacent to the
The JORC compliant Competent Person's Report published in
As Bushveld expands its annual vanadium output, Brits provides potential additional ore feed to Bushveld's Vametco Facility and their Vanchem Processing Facility.
Bushveld's 2020 production guidance for Vametco is 2,700 mtV - 2,850 mtV, with plans for a production ramp-up to 4,200 mtV per annum, subject to a definitive feasibility study and 2020 guidance for Vanchem of 960 mtV - 1,100 mtV (currently being ramped-up via a 3-phase programme to >4,200 mtV per annum).(1)(2)
Unique exposure to globally significant vanadium producer in
Asset Overview
Brits is part of the world class Bushveld Vanadium deposits located within the
As Bushveld expands its annual vanadium output, Brits provides potential additional ore feed to the Vametco Facility 3.5km away, as well as to the Vanchem Processing Facility which Bushveld acquired in
Bushveld has provided 2020 Production guidance for Vametco of 2,700 mtV - 2,850 mtV, with plans for a production ramp-up to 4,200 mtV per annum, subject to a definitive feasibility study and 2020 guidance for Vanchem of 960mtV - 1,100 mtV (currently being ramped-up via a 3-phase programme to >4,200 mtV per annum).(1)(2) This Vanchem ramp-up is being partially funded through a
To maintain 2020 production levels of 3,950mtV (Vametco + Vanchem) requires approximately 1.7Mt per annum run-of-mine mill feed while the potential expansion to 8,400mtV would require an additional 1.9Mtpa of ore feed(3).
Royalty Terms
The royalty is a 1.75% gross sales royalty in respect of all products mined from Brits. Annual royalty payments are capped at
Transaction Closing
Closing of the Transaction is expected to occur in
About Vox
Vox is a high growth precious metals royalty and streaming company with a portfolio of over 45 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 over 15 separate transactions to acquire over 40 royalties.
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.
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 the Royalty (including expectations for the Brits project and estimates of the escalated royalty cap) and the ability of Vox to continue to complete the acquisition of the Royalty. 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.
Contact:
Email: riaan@voxroyalty.com
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