First gold pours at the Segilola Gold Mine in West Africa by Thor Exploration.
July 30th operators completed the first gold pour. Thor is transitioning into the operating phase of the project, which means they are moving towards full-scale steady state commercial productions in September.
They are targeting 80-85,000 oz per annum, which will equate to around 45k/oz by the end of this year, and then they are looking to ramp up towards 100k/oz next year.
This royalty means good news for Vox as they receive cash flow into the portfolio alongside the other 3 production stage royalties.
The revenue generated from this mine for Vox should be 5x the initial investment over the next 3 years which was C$900k. The potential C$4.5 from Segilola has given Vox confidence to up their revenue forecasts for this year towards
C$5 million revenues which is double their previous announcement at the end of Q1. There will obviously be a lot more news coming in the next 3 years so it will be interesting to see how the other production stage assets fair and which new ones up the revenues and by how much.
Vox Royalty is protected from the challenges that occur taking a mine into production as they have no exposure to CapEx. That is not to say the mine should it fail to find the necessary materials, machinery and other COVID related disruptions, would not hinder the revenues being projected. The good news is the mine's operators are doing a sterling job so far and have an amazing track record.
July 30th operators completed the first gold pour. Thor is transitioning into the operating phase of the project, which means they are moving towards full-scale steady state commercial productions in September.
They are targeting 80-85,000 oz per annum, which will equate to around 45k/oz by the end of this year, and then they are looking to ramp up towards 100k/oz next year.
This royalty means good news for Vox as they receive cash flow into the portfolio alongside the other 3 production stage royalties.
The revenue generated from this mine for Vox should be 5x the initial investment over the next 3 years which was C$900k. The potential C$4.5 from Segilola has given Vox confidence to up their revenue forecasts for this year towards
C$5 million revenues which is double their previous announcement at the end of Q1. There will obviously be a lot more news coming in the next 3 years so it will be interesting to see how the other production stage assets fair and which new ones up the revenues and by how much.
Vox Royalty is protected from the challenges that occur taking a mine into production as they have no exposure to CapEx. That is not to say the mine should it fail to find the necessary materials, machinery and other COVID related disruptions, would not hinder the revenues being projected. The good news is the mine's operators are doing a sterling job so far and have an amazing track record.
