DENVER, Sept. 23, 2025 (GLOBE NEWSWIRE) -- Vox Royalty Corp. (NASDAQ:VOXR) (TSX:VOXR) ("Vox" or the "Company"), a returns focused mining royalty and streaming company, is pleased to announce that it has entered into definitive agreements to acquire a global gold portfolio of ten gold offtake and royalty assets, covering twelve mines and projects across eight jurisdictions, including Australia, Brazil, Canada, Côte d'Ivoire, Mali, Mexico, South Africa and the United States (the "Portfolio"), from certain subsidiaries of Deterra Royalties Limited ("Deterra"), for total upfront cash consideration of $57.5 million and $2.5 million in deferred milestones (the "Transaction"). The Transaction will be funded with a concurrent overnight marketed offering of common shares and an upsized revolving credit facility with Bank of Montreal ("BMO").
Kyle Floyd, Chief Executive Officer stated: "We are excited to announce this highly accretive gold portfolio transaction that is expected to grow revenue per share by over 100%, expand our producing asset count to 14, and expand our large-cap operator exposure. The Portfolio revenue is entirely gold-related and based on Q2-2025 actuals, pro-forma revenue related to gold exceeded 80%, which is expected to accelerate our potential inclusion on the GDXJ index in 2026. This Transaction is consistent with our disciplined strategy of buying highly accretive legacy assets with exceptional long-term optionality. Over the trailing four quarters ending June 2025, this global gold portfolio generated over $16 million of gold cash flow, and based on Q2-2025 gold cash flow of $5.6 million, this portfolio is currently generating over $20 million of annualised run-rate gold cash flow. We look forward to sharing more on the completion of the offering and deal completion with Deterra."
Pro Forma Growth from Global Gold Portfolio
Notes:1. Based on Q2 -25 Vox revenues of $2.8M and $5.6M for the acquired portfolio.2. Based on LTM Vox revenues of $10.8M and $16.3M for the acquired portfolio, assumes an illustrative 10M common shares issued. 3. Pro-Forma represents actuals reported by Vox Royalty Corp and as disclosed by Deterra June 2025 quarter portfolio update dated July 31, 2025 - https://www.deterraroyalties.com/wp-content/uploads/2025/07/2922636.pdf
Past results of the acquired portfolio may not be representative of future results.
Transaction Rationale
This Transaction is expected to have an immediately accretive financial impact, including: i) revenue per share, ii) cash flow per share, and iii) net asset value.
The acquired portfolio generated approximately $5.6 million of revenue in the three months ended June 20251 and the portfolio generated approximately $16.3 million1 of revenue in the trailing four quarters ending June 30, 2025, representing an expected revenue growth of approximately 200% and 150%, respectively2.
Pro-forma, the Transaction represents an increase in revenue per share of approximately 115%3.
The margins realized by this portfolio have significantly outperformed the underlying price of gold. Comparing the first half of 2022 to the first half of 2025, the average margin per ounce realized on the acquired assets has increased from $23.10/oz to $63.10/oz, representing a relative growth of approximately 170%4, while the underlying realized gold price has increased from $1,807/oz to $3,099/oz, or approximately 70%4. Similarly, the ounces delivered by the portfolio within the same comparison period increased by approximately 30%, from 111koz to 144koz, while delivering a total of 976koz since January 20224.
Adds immediate cash flow from seven operating mines, with potential embedded growth and upside optionality from exploration success, life of mine extensions, throughput expansions and mine re-starts within the diversified portfolio.
Provides exposure to assets operated by medium to large-cap operators such as Equinox Gold Corp., Allied Gold Corporation, Gold Fields Limited, B2Gold Corp., and Vault Minerals Limited.
Weights the portfolio and revenue mix towards precious metals, with a larger proportion of revenue derived from gold, potentially unlocking eligibility to precious metal-based indexes such as the GDXJ.
The portfolio is expected to provide access to over 300,000 ounces of physical gold per annum, based on FY2025 (to June 30, 2025) actuals of 338,000 delivered ounces 4, as well as CY2024 actuals of 306,000 delivered ounces5.
The funding package ensures Vox maintains a strong balance sheet to execute on its acquisition pipeline after the closing of the Transaction.
Portfolio Summary
The portfolio includes eight separate gold offtake contracts and two gold royalties, as described below:
Asset
Key Terms of Interest
Total oz Delivered (to Dec 2024)
Commodity
Jurisdiction
Stage
Operator
Fazenda
35% of gold production, up to a cap of 658 koz(i)
364 koz
Gold
Brazil
Producing
Equinox Gold Corp.
RDM(i)
Santa Luz(i)
Greenstone
100% of gold production, up to a cap of 58.5 koz per annum (until March 2027)
58.5 koz
Gold
Canada
Producing
Equinox Gold Corp.
i-80 Assets; Ruby Hill, Cove & Granite Creek
100% of gold production(i), up to a cap of 40 koz per annum (until December 2028)
44 koz
Gold
United States
Producing
i-80 Gold Corp.
Bonikro
50% of gold production (uncapped)
177 koz
Gold
Ivory Coast
Producing(ii)
Allied Gold Corporation
Blyvoor
100% of gold production, up to a cap of 2.7 Moz
64 koz
Gold
South Africa
Producing
Aurous Resources(iii)
Sugar Zone
80% of gold doré production, up to a cap of 961 koz
93 koz
Gold doré
Canada
Development (iv)
Vault Minerals Limited
Los Filos
50% of gold production, up to a cap of 1.1 Moz
512 koz
Gold
Mexico
Suspended(v)
Equinox Gold Corp.
Eagle
25% of gold production, up to a cap of 1.1 Moz
