Vox Royalty to acquire Wyloo North iron ore royalty for A$1.5M

Vox Royalty (VOXR) executed a binding agreement to acquire an iron ore royalty over the Wyloo North iron ore project in the Pilbara region of Western Australia, currently operated by Fortescue Metals Group, from an Australian company for A$1.5M. The Royalty is a 1.5% Gross Revenue Royalty payable on the first 15 million tonnes of iron ore production from the Wyloo North deposit, which forms part of Fortescue’s Greater Western Hub. Spencer Cole, Chief Investment Officer stated: “We are pleased to announce the Wyloo North royalty acquisition in Western Australia, which aligns with Vox’s focus on large high-grade orebodies, operated by large-cap mining companies with medium-term development potential via existing infrastructure. The Wyloo North Royalty is expected to generate meaningful returns once it enters production. Vox management is confident that the deposit has the potential to be fast-tracked towards production by the A$60B market cap operator Fortescue.”