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]

Core Points - PPX Mining Corp. has received a payment of US$637,000 from Silver Crown Royalties Inc. as part of a silver royalty agreement [1] - The payment represents the remainder of the second and final tranche due under the agreement established on December 13, 2024, and amended on July 31, 2025 [1] - The funds will be utilized to support the ongoing construction of the carbon-in-leach and flotation plant at the Igor project in La Libertad, Peru [1]

Group 1 - EDM Resources Inc. has successfully closed a silver royalty sale to Silver Crown Royalties Inc., receiving an initial payment of C$250,000 and 60,000 units in Silver Crown [1][2] - The total cash payment for the royalty is C$500,000, with the remaining C$250,000 to be paid within 30 days of closing [3] - The 60,000 units issued to EDM by SCRi are valued at C$10.00 per unit, each consisting of one common share and a warrant to purchase an additional share at C$13.00 for 36 months [4] Group 2 - SCRi operates as a silver royalty company and is listed on multiple stock exchanges, including CBOE Canada and Frankfurt [2] - The royalty agreement specifically pertains to silver production at the Scotia Mine and does not cover other minerals such as zinc, lead, gypsum, or gold [2] - EDM Resources Inc. holds full ownership of the Scotia Mine and has several exploration licenses in the surrounding regions of Nova Scotia [5]