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VOX Acquires Australian Gold Royalty Over Cardinia Gold Project and Closes First Quantum Minerals Royalty Portfolio Deal

By AP News - Nov 22, 2022, 07:03 AM ET
Last Updated - Aug 01, 2024, 05:58 AM EDT
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The CGP covers a 656km2 land package located 30km from Leonora within the North Eastern Goldfields, the easternmost subdivision of the Archaean Yilgarn Block. The combined 1.4Moz JORC Resource Estimate is hosted in oxide-dominant ore zones at three centres - Cardinia, Mertondale and Raeside

Vox Royalty Corp. (TSXV:VOX)(NASDAQ:VOXR) ("Vox" or the "Company"), a returns focused mining royalty company, is pleased to announce that it has executed a binding royalty sale and purchase agreement dated November 21, 2022 with Gloucester Coal Ltd ("Gloucester") and acquired Gloucester's Cardinia development-stage gold royalty in Western Australia for A$450,000 (approximately US$300,000) cash (the "Transaction")

TORONTO, ON / ACCESSWIRE / November 22, 2022 / Vox Royalty Corp. (TSXV:VOX)(NASDAQ:VOXR) ("Vox" or the "Company"), a returns focused mining royalty company, is pleased to announce that it has executed a binding royalty sale and purchase agreement dated November 21, 2022 with Gloucester Coal Ltd ("Gloucester") and acquired Gloucester's Cardinia development-stage gold royalty in Western Australia for A$450,000 (approximately US$300,000) cash (the "Transaction"). The Company is also pleased to announce that it has completed the acquisition of First Quantum Minerals Ltd.'s (TSX:FM) ("FQM") Canadian royalty portfolio, previously announced on November 10, 2022, which closed on November 21, 2022.

The acquired royalty, previously produced on a bulk sampling basis, is a 1% Gross Value of Sales royalty above 10,000oz cumulative gold production (~9,100oz remaining hurdle) on mining lease M37/86, which is operated by Kin Mining Ltd (ASX: KIN) ("Kin"), and is part of Kin's flagship Cardinia Gold Project, which is located 30km east of Leonora in Western Australia (the "Cardinia Royalty"). The Cardinia Royalty was created in 1993 pursuant to an Option Agreement between Sons of Gwalia Ltd and Centenary International Mining Ltd, the latter of which became CIM Resources Ltd, and eventually, Gloucester.

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Figure 1: Trial Mining in 2016 at royalty-linked Lewis Deposit

(Source: Kin Mining NL announcement "Kin Mining Update" dated 29 July 2016)

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