Vox to Acquire Silver Royalty over the Sorby Hills Project in Australia

Vox Royalty Corp. has entered a binding agreement to acquire an effective 0.75% net smelter return (NSR) royalty over the construction-stage Sorby Hills silver-lead project in Western Australia. The total cash consideration for the transaction is $13,000,000, which will be paid from existing cash on hand. The deal is expected to close in the fourth quarter of 2026, subject to customary conditions and approval from the Foreign Investment Review Board (FIRB).

Operator Boab Metals Limited completed its final investment decision in December 2025. The project is fully permitted and fully funded, with targeting for first concentrate production in the second half of 2027 and an initial mine life of 8.5 years. The average annual production profile is projected at approximately 2.2 million ounces of silver and 68,000 tonnes of lead. Operator-level economics indicate C1 cash costs of $0.36 per pound for payable lead, net of silver credits. The project boasts an average annual EBITDA of A$126 million, with a pre-tax NPV8 of A$411 million and a 37% internal rate of return (IRR) based on silver at $27.4 per ounce and lead at $2,255 per tonne.

Phase IX drilling, consisting of 47 holes totaling approximately 5,880 meters, is complete. Resource-to-reserve conversion drilling has also finished for the B, Omega, Norton, and Beta deposits. The royalty terms cover the hosting tenements, and any reserve additions or mine life extensions resulting from Phase IX are royalty-linked at no incremental cost to Vox.

Vox Royalty Corp. (VOXR) announced a $13 million acquisition, representing approximately 2.5% of its current market capitalization of ~$528 million. The deal is fully funded from existing cash reserves of $31.1 million as of Q2 2026, leaving the company with ample liquidity and zero incremental leverage. The transaction aligns with management's stated "balanced barbell" strategy, which combines near-term producing revenue with development-stage NPV optionality.

The stock has already advanced ~5.4% since the prior earnings release, closing at $7.22 on August 12, 2026, indicating the market has partially telegraphed continued M&A deployment. Given the modest size relative to the balance sheet, the fully funded nature, and the alignment with prior strategic messaging, the development validates the execution of the capital allocation framework.

Vox Royalty Corp. is a royalty and streaming company focused on acquiring producing and near-term producing assets globally. Its portfolio spans more than 70 assets across precious metals, including gold, silver, and PGMs, as well as base and industrial metals such as copper, zinc, lead, and iron ore. Key producing assets include Bonikro in Côte d'Ivoire, Greenstone in Ontario, Kanmantoo in South Australia, and Janet Ivy in Western Australia. Development-stage assets include Red Hill, Sugar Zone, Stockman, Bowdens, and Ashburton. The company leverages a proprietary database of more than 8,500 royalties and a global sourcing network to identify mispriced opportunities.