VOX ROYALTY CORP. (TSX:VOXR): announcements explained, share price

Announcements, explained

Each one in plain English, with the numbers worked through for a shareholder.

22 May 2025resource reserve update▲ Good

Vox relayed Northern Star's May 15, 2025 update on Red Hill, where Vox holds a 4.0% gross revenue royalty. Northern Star said recent drilling targets upgrading inferred resources to indicated, and that ore is planned to go through the Fimiston mill at KCGM, whose A$1.5 billion expansion is scheduled for commissioning in FY27. Required approvals are still ongoing, and a Mining Proposal and Mine Closure Plan are to be submitted before operations restart. This continues the Red Hill thread from May 2024, but the release gives no Red Hill-specific resource figures, production start date or mine life, and the mine life stays undetermined.

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6 May 2024resource reserve update▲ GoodMajor

Northern Star, which operates the Red Hill gold project in Western Australia, reported on May 2, 2024 that its gold resource rose 58% to 1.9 million ounces (from 1.2 million in March 2023) and that it has declared a first reserve of 0.6 million ounces. Vox holds a 4.0% gross revenue royalty over mining lease M27/57 at Red Hill; Vox management estimates the royalty could generate about US$10 million in initial annual revenue, over a mine life Northern Star has yet to determine. That figure is management's estimate, not a production decision, and the resource remains classed as inferred.

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4 Apr 2023resource reserve update▲ GoodMajor

Silver Mines Limited, the operator of the Bowdens silver project in New South Wales, Australia, received final development approval from the state's Independent Planning Commission on April 3, 2023 (subject to conditions), and on March 31, 2023 it upgraded its resource estimate to 323 million ounces of measured and indicated silver equivalent plus 73 million ounces inferred, with a first gold resource. Vox holds a 0.85% gross revenue royalty on Bowdens and a 1% gross revenue royalty over surrounding regional exploration tenure, so the approval and larger resource are positive for that royalty; Vox's CEO of Australia says it paves the way for a near-term final investment decision, and updated studies and ore reserves are expected later in 2023. No construction decision or royalty payments are announced yet.

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20 Jan 2023resource reserve update● Neutral

After an Ontario Securities Commission review tied to Vox's October 25, 2022 draft base shelf prospectus, Vox refiled its Wonmunna iron ore technical report and two management discussion documents (the 2021 annual one and the nine-month 2022 one) to fix disclosure issues. The changes include treating the Wonmunna resources and reserves as a historical estimate, and removing or correcting how certain other companies' resource figures were presented. Management says it does not consider the amendments material.

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