Vox Royalty Corp. ( VOXR ) has had a solid past 12 months, with shares up over 90%, all seemingly because of the rise in gold but also silver. With a focus on investing in mine royaltiesMy name is Andres Veurink and I have been in the financial markets for over a decade at this point, spending the majority of that in a hedge fund here in Rotterdam, working my way up as an analyst. My work relfect rigourious standards as I myself have a very high standard as to what I invest my money in. My preferred sectors ...

DENVER, CO / ACCESS Newswire / December 18, 2025 / Vox Royalty Corp. (TSX:VOXR)(NASDAQ:VOXR) ("Vox" or the "Company"), a returns-focused mining royalty and streaming company, is pleased to announce that it has executed a binding agreement to acquire an existing royalty over the feasibility-stage Stockman copper-gold-zinc-silver project ("Stockman") in Victoria, Australia. The royalty is a 1.5% Net Smelter Return royalty, reducing to 1.0% after nine million tonnes of production (the "Royalty"). ...

Vox Royalty Corp Conference Summary Company Overview - **Company Name**: Vox Royalty Corp - **Ticker Symbols**: VOXR (NASDAQ), VOXR (TSX) - **Industry**: Mining, specifically focused on precious metals royalty and streaming - **Portfolio**: Over 80 assets across eight jurisdictions [1][4] Core Industry Insights - **Macroeconomic Environment**: Current market conditions are favorable for gold and copper, with record high prices due to geopolitical uncertainties [4] - **Investor Interest**: Increased interest from U.S. generalist investors in gold and related equities, making it an opportune time for royalty and streaming companies [4][5] Company Strategy and Performance - **Investment Focus**: Vox was established to provide generalist investors with exposure to mining without the need for specialized knowledge [5][6] - **Competitive Advantage**: The company emphasizes compounding per-share returns and has built a diversified portfolio to mitigate single mine risk [6][7] - **Historical Performance**: Royalty companies have historically outperformed mining equities, with returns ranging from 800% to 3,300% over the past 20 years [8][9] Financial Metrics - **Market Capitalization**: Approximately $360 million [11] - **Revenue Growth**: Revenue has grown significantly, with guidance for $13-$15 million this year based on previous investments [18][19] - **Dividend Policy**: Vox has the highest dividend yield in its industry, with a consistent annual increase of approximately 10% over the last three years [19] Portfolio Composition - **Asset Breakdown**: 80% of the portfolio is in precious metals, primarily gold, with 20% in non-precious metals like copper, iron ore, zinc, and nickel [12][26] - **Geographic Focus**: Approximately 70% of assets are located in Australia, particularly Western Australia, which is viewed as a top mining jurisdiction [13][10] Future Growth and Opportunities - **Production Expansion**: The company expects to increase its producing assets from 14 to nearly 22 over the next two to three years [14][21] - **Recent Acquisition**: A significant $60 million acquisition of 10 assets, including offtake streaming contracts, is expected to enhance revenue potential [22][24] - **Market Positioning**: Vox aims to capitalize on undervalued opportunities in Australia, where royalties can be acquired at lower costs compared to North America [33] Risk Management and Monitoring - **Diversification Strategy**: The company maintains a diversified portfolio to reduce risk, with no single asset contributing more than 25% of revenue [26][30] - **Operator Quality**: Two-thirds of the portfolio is managed by companies with market caps over $2 billion, ensuring stability and reliability [31][32] Conclusion - **Outlook**: Vox Royalty Corp is well-positioned for growth in a favorable market environment, with a strong focus on capital efficiency, diversification, and strategic acquisitions to enhance shareholder value [19][24]

Summary of Agnico Eagle Mines Conference Call Company Overview - **Company**: Agnico Eagle Mines (NYSE:AEM) - **Industry**: Mining, specifically gold production - **Position**: Canada's largest mining company and the second largest gold producer globally - **Operations**: Canada, Australia, Finland, and Mexico with a pipeline of exploration and development projects [2][3] Key Points and Arguments Gold Market Performance - Gold prices have increased over 60% year-to-date, reaching record levels over $4,200 per ounce due to geopolitical uncertainty, central bank buying, high global debt levels, and de-dollarization trends [3][4] - Gold equities have outperformed gold itself, with share performance exceeding 100% in 2025, indicating strong investor interest [4] Agnico Eagle's Business Model - Agnico operates 10 assets across five regions and four countries, with approximately 85% of production from Canada [5] - The company focuses on regions with geological potential for multiple mines and political stability, which provides a competitive advantage [6][7] - Over the last 20 years, Agnico has increased its gold production from 250,000 ounces to nearly 3.5 million ounces per year, a 14-fold increase [8] Financial Performance - Agnico has maintained a strong financial position, reducing net debt from $200 million to a net cash position of $2.2 billion as of September, with expectations to reach $3 billion by year-end [10] - The company has consistently paid dividends, totaling $600 million year-to-date, with an expected full-year payout of $800 million [11] Capital Allocation and Growth Strategy - Agnico plans to reinvest approximately $2.1 billion in sustaining growth capital expenditures, focusing on five key projects that could add 1.3-1.5 million ounces of annual production over the next five to eight years [12][13] - Key projects include Detour Lake and Canadian Malartic, both capable of producing over one million ounces per year [32] Production and Cost Management - All-in sustaining costs are approximately $300 per ounce, significantly lower than peers, providing a competitive edge [30] - The company has expanded its margins to over 60% as gold prices increase, effectively passing on 99% of gold price increases to investors [9] Community Engagement and Sustainability - Agnico emphasizes strong relationships with local and Indigenous communities, being the largest payer to Indigenous communities in Canada [32] - The company is committed to responsible operations and environmental stewardship, particularly in sensitive areas like Nunavut [24][49] Additional Important Insights - Agnico's long mine life estimates indicate over 15 years of production potential across its properties, with some assets extending beyond 2050 [27] - The company has a robust pipeline of projects that are expected to generate significant free cash flow and support production growth in the coming years [12][32] - The strategic focus on regional operations allows Agnico to leverage existing infrastructure and relationships, enhancing operational efficiency and reducing risks [6][7] This summary encapsulates the key insights from the Agnico Eagle Mines conference call, highlighting the company's strong market position, financial health, growth strategy, and commitment to community engagement and sustainability.

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1][2]. Company Overview: Vox Royalty Corp. (VOXR) - Vox Royalty Corp. currently holds a Momentum Style Score of A, indicating strong momentum potential [3]. - The company has a Zacks Rank of 2 (Buy), suggesting it is positioned for outperformance in the market [4]. Price Performance - Over the past week, VOXR shares have increased by 13.36%, outperforming the Zacks Mining - Miscellaneous industry, which rose by 2.79% [6]. - In a longer timeframe, VOXR's shares have risen by 28.95% over the past month, compared to the industry's 4.51% [6]. - Over the last three months, VOXR shares have increased by 44.02%, and over the past year, they have surged by 100.76%, while the S&P 500 has only moved 5.66% and 13.75% respectively [7]. Trading Volume - The average 20-day trading volume for VOXR is 646,881 shares, which serves as a bullish indicator when combined with rising stock prices [8]. Earnings Outlook - In the past two months, one earnings estimate for VOXR has increased, raising the consensus estimate from $0.04 to $0.06 for the full year [10]. - For the next fiscal year, one estimate has also moved upwards, with no downward revisions noted [10]. Conclusion - Considering the strong momentum indicators and positive earnings outlook, VOXR is identified as a 2 (Buy) stock with a Momentum Score of A, making it a promising investment opportunity [12].

Summary of Vox Royalty FY Conference Call Company Overview - **Company Name**: Vox Royalty (NasdaqCM:VOXR) - **Industry**: Specialty Mining, focusing primarily on gold royalties but also open to base and battery metals [2][8] Core Points and Arguments - **Business Model**: Vox Royalty operates as a gold royalty company, designed to provide investors with exposure to precious metals while minimizing risk and maximizing returns [2][3] - **Performance Metrics**: - Founding shareholders have seen returns of over 1,300% since inception, with an 80% increase in the last year [6] - Revenue has grown by almost 400% over the last three years while costs have remained flat or decreased [6][7] - **Market Position**: Vox aims to replicate the success of larger royalty companies like Franco-Nevada and Wheaton Precious Metals, which have outperformed mining companies and major indices [4][5] - **Asset Growth**: The number of producing assets has increased from 1 in 2020 to 14 currently, with expectations to grow to 22 in the coming years [9][10] Financial Highlights - **Recent Acquisition**: In September, Vox acquired a portfolio generating approximately $15 million in free cash flow for $60 million, significantly increasing its producing asset count [10][11] - **Market Capitalization**: Vox has a market cap of $300 million, providing a diversified portfolio that would typically belong to much larger mining companies [11] - **Debt and Cash Position**: The company has about $11.7 million in debt and $11 million in cash, indicating a strong balance sheet [11] Strategic Focus - **Investment Strategy**: Vox focuses on acquiring royalties from projects that are 2-4 years from production, allowing for a steady increase in revenue and cash flow [9][10] - **Dividend Policy**: Vox pays a modest but sustainable dividend, which is the highest yield in the precious metals royalty industry [18] - **Analyst Coverage**: Currently, four analysts cover Vox, with expectations for increased price targets as the company continues to grow [19][20] Industry Dynamics - **Gold Price Outlook**: The company is positioned to benefit from long-term increases in gold prices, although it operates under the assumption of potential price declines [25][26] - **Cost Structure**: Vox's business model is less affected by cost inflation in the mining sector, allowing for higher operating margins compared to traditional mining companies [23][24] Competitive Advantage - **Data Utilization**: Vox has acquired a proprietary database of mining royalties, enabling it to identify undervalued assets that competitors may overlook [28][29] - **Risk Management**: The company emphasizes a high margin of safety in its acquisitions, focusing on the likelihood of mines entering production rather than solely on current metal prices [38][39] Future Outlook - **Growth Potential**: Vox expects to add 2-5 new producing assets annually, which will further enhance its revenue profile [16][24] - **Index Inclusion**: The company was added to the Russell 2000 and anticipates inclusion in the GDXJ index, which could attract broader investor interest [24] Additional Insights - **Silver Royalties**: Vox holds a significant silver royalty over the Bowden's project, which could generate substantial revenue once in production [41] - **Market Perception**: The company believes its business model may be perceived as complex, but it aims to simplify its narrative to attract more passive investors [18][19]

Revenue Growth - Total revenue for the three months ended September 30, 2025, was $3,815,640, representing a 57% increase from $2,428,809 in the same period of 2024[8] - Royalty revenue increased to $3,672,250 for the three months ended September 30, 2025, compared to $2,428,809 in 2024, marking a 51% growth[8] - Total revenue for the three months ended September 30, 2025, was $3,815,640, a significant increase from $2,428,809 in the same period of 2024, representing a growth of 57.0%[95] Net Income and Expenses - The company reported a net income of $161,673 for the three months ended September 30, 2025, compared to a net loss of $107,613 in the same period of 2024[8] - Operating expenses for the three months ended September 30, 2025, were $1,546,209, a slight decrease from $1,610,775 in the same period of 2024[8] - General and administration expenses for the nine months ended September 30, 2025, totaled $3,298,447, a decrease from $3,448,473 in the same period of 2024[73] Cash and Assets - Cash and cash equivalents increased to $12,146,280 as of September 30, 2025, up from $8,754,391 at the end of December 2024, reflecting a 39% increase[5] - Total assets rose significantly to $123,410,101 as of September 30, 2025, compared to $51,381,324 at the end of December 2024, indicating a 140% increase[5] - The company reported total non-current assets of $106,731,388 as of September 30, 2025, up from $39,252,310 as of December 31, 2024, indicating a growth of 172.5%[95] Equity and Share Issuance - The company’s total equity reached $101,174,242 as of September 30, 2025, up from $43,060,199 at the end of December 2024, representing a 135% increase[5] - The Company issued 17,094,750 common shares at a price of $3.70 per share, resulting in total gross proceeds of $63,250,575 from the public offering[55] - The number of common shares issued and outstanding increased to 67,986,838 as of September 30, 2025, compared to 50,658,776 at December 31, 2024[54] Royalty Interests and Acquisitions - The company acquired royalty interests totaling $14,439,760 during the nine months ended September 30, 2025[12] - The total royalty interests increased to $49,197,928 as of September 30, 2025, compared to $37,984,188 in December 2024, reflecting a growth of about 29.5%[35] - Vox completed the acquisition of the Kanmantoo copper-gold royalty in Australia for a net purchase price of $11,751,838 on May 15, 2025[36] Debt and Credit Facilities - The Company amended its credit agreement, increasing the secured revolving credit facility to $40,000,000, with a total funding capacity of $75,000,000[44] - As of September 30, 2025, the outstanding balance under the credit facility was $11,700,000 after borrowings of $16,700,000 and repayments of $5,000,000[46] - The Company maintained compliance with all covenants related to its credit facility as of September 30, 2025[45] Tax and Interest - Current tax expense for the three months ended September 30, 2025, was $330,857, compared to $448,757 for the same period in 2024, reflecting a decrease of 26.3%[96] - Interest income for the nine months ended September 30, 2025, was $264,222, down from $368,680 in the same period of 2024[75] Litigation and Impairments - The company is involved in ongoing litigation regarding the Red Hill royalty, with potential implications for its financial position[82] - The company fully impaired four royalties related to the Jaw, Phoebe, Cart, and Colossus projects, reducing their carrying value from $1,000,000 to nil[84] - The company expects to reverse up to $1,000,000 of the 2023 impairment charge if replacement royalties are granted[84] Future Commitments and Payments - The company has milestone payments totaling $11,813,739 related to various royalty acquisitions, contingent on achieving specific revenue or production thresholds[89] - The company has committed to minimum annual lease payments of $3,872 for its premises and $39,585 for consulting agreements for the period ending September 30, 2026[86] Financial Instruments and Market Sensitivity - Vox's total financial assets measured at fair value through profit or loss (FVPL) include those intended for short-term sale, reflecting the company's strategy to capitalize on market fluctuations[25] - A 10% increase in the value of the Canadian and Australian dollar relative to the US dollar would increase net income by $580,000[101] - A 1% increase in nominal interest rates would increase net income by approximately $300,000[102]

Core Viewpoint - Vox Royalty Corp. has reported its operating and financial results for Q3 2025, highlighting its focus on returns in the mining royalty and streaming sector [1] Financial Performance - The company’s financial results for the third quarter ended September 30, 2025, are presented in U.S. dollars [1] Operational Highlights - Vox Royalty Corp. emphasizes its commitment to delivering returns through its mining royalty and streaming operations [1]

Vox Royalty Corp. Conference Call Summary Company Overview - Vox Royalty Corp. is focused on providing leveraged exposure to the metals sector, particularly gold and precious metals, by acquiring mining royalties and streams [2][3][4] Key Industry Insights - The mining sector has historically underperformed, presenting challenges for generalist investors due to its complex risk profile [2] - Current market conditions are bullish for gold and precious metals, with prices at all-time highs, encouraging miners to increase production and reserves [3][4] Core Business Strategy - Vox Royalty aims to identify and acquire assets at significant discounts to their fair value, focusing on pre-production royalties [6][9] - The company has a strong portfolio of gold royalties, primarily in Australia, which has seen substantial capital reinvestment from operators [4][8] - Vox Royalty operates without contributing capital to mining operations, benefiting from the production increases and revenue growth of its operators [17][25] Recent Developments - The company recently completed a transformative acquisition that significantly increased its precious metals exposure, now approximately 80% gold [6][8] - The acquisition is expected to generate between $15 million and $20 million annually in cash flow, purchased for $60 million, representing a cash flow multiple of 3X to 4X [10][11] Financial Performance - Vox Royalty has invested $50 million in legacy mining royalties since 2019, with $38 million already returned, expecting full payback by next year [9][23] - The net asset value of the recent acquisition is estimated between $200 million and $250 million, indicating a strong return on invested capital exceeding 25% [10][11] Growth Potential - The company anticipates significant organic growth from its portfolio, with over 100,000 royalty gold-equivalent ounces expected to generate approximately $400 million in undiscounted value [15][16] - Key assets include Redhill, which could yield substantial revenue once production resumes, and other developing projects in Australia and the U.S. [14][28] Market Positioning - Vox Royalty targets large-cap and mid-cap mining companies, avoiding small-cap miners to mitigate exposure to market volatility [29] - The company maintains a disciplined approach to acquisitions, focusing on legacy assets rather than financing new projects, which allows for better risk-adjusted returns [25][30] Dividend Policy - Vox Royalty has a growing dividend policy, with an average increase of over 6%, supported by the cash flow from recent acquisitions [12] Conclusion - Vox Royalty Corp. is well-positioned to capitalize on the current bullish market for gold and precious metals, with a robust acquisition strategy and a strong portfolio of assets that promise significant growth and returns for shareholders [21][30]

Core Insights - The focus is on identifying companies in the consumer products sector that exhibit strong brand recognition, solid financials, and growth potential [1] Group 1: Company Characteristics - Companies should have a unique combination of strong brand recognition and solid financials to be considered for investment [1] - An understanding of consumer trends is crucial for identifying profitable investment opportunities in the sector [1] Group 2: Investment Strategy - The investment strategy emphasizes the importance of growth potential in consumer products companies [1]