Vox Royalty Reports Q3 2026 Results and Declares Quarterly Dividend

• Vox reported Q3 2026 results for the period ended September 30, 2026, and declared a US$0.015 quarterly dividend payable January 14, 2027.
• Q3 net income was US$2.2 million, or US$0.03/share, versus US$0.2 million, or US$0.00/share, in Q3 2025.
• Q3 royalty and net precious metal receipts were US$5.9 million versus US$3.8 million a year earlier. Net precious metal income was US$4.1 million versus US$0.1 million, while royalty revenue fell to US$1.8 million from US$3.7 million.
• Q3 gross profit was US$3.7 million, operating cash flow was US$3.2 million, and cash at quarter-end was US$27.2 million. The credit facility was fully undrawn and was upsized on October 1, 2026, to US$100 million plus a US$50 million accordion.
• Nine-month 2026 net income was a record US$43.7 million, or US$0.63/share, on record receipts of US$28.1 million versus US$9.3 million in 9M 2025. Nine-month operating cash flow was US$23.1 million.
• Q3 deliveries were 42,941 ounces at an average net precious metal income margin of US$95.71/oz. Nine-month deliveries were 175,233 ounces at US$128.72/oz.
• The company closed US$6.0 million of Australian royalty acquisitions in the quarter and announced the US$13.0 million Sorby Hills silver-lead royalty acquisition, expected to close in Q4 2026.
• Other operating updates included record quarterly Kanmantoo royalty revenue, Equinox board approval to restart Los Filos heap leach operations, and an accelerated Sugar Zone processing restart target.
• Commodity mix was 80% gold and 20% other in Q3, and 87% gold and 13% other for 9M 2026.

The release is an in-line quarterly confirmation rather than a change in the investment case. The key new figures — Q3 receipts of US$5.9 million, 9M receipts of US$28.1 million, Q3 net income of US$2.2 million and a maintained US$0.015 dividend — sit within the already-raised US$32–37 million guidance range. The Australian acquisitions and Sorby Hills deal were pre-announced. The negative incremental data point is mix: Q3 royalty revenue fell 51.7% year over year to US$1.8 million, and Q3 receipts slipped 4.4% sequentially from Q2. That is a quality-of-revenue warning, but it is not a guidance cut. The rating reflects confirmation of the existing trajectory with no change to guidance or capital returns.

• Vox Royalty Corp. is a returns-focused mining royalty and streaming company listed on Nasdaq and TSX under VOXR, headquartered in Westminster, Colorado, and founded in 2014.
• The company holds over 70 royalties and streams, including 11 producing and 29 development-stage assets, with primary exposure to gold and select industrial metals.
• Key producing assets include Bonikro (50% gold offtake), Greenstone (two gold streams), Blyvoor (100% gold stream), Kanmantoo (2.5% NSR stepping down to 0.5%), Janet Ivy (A$0.50/dry tonne) and White Dam (2.0% NSR).
• Key development/advanced assets include Red Hill (4.0% GRR), Sugar Zone (80% gold doré offtake-stream), Los Filos (50% gold offtake), Sorby Hills (0.75% NSR), Stockman (1.5% NSR stepping down to 1.0%), Bowdens, Ashburton, Bullabulling, Lynn Lake, South Railroad and Limpopo.
• The business model relies on a proprietary database of more than 8,500 royalties and a lean seven-person executive team. Vox does not operate mines and has limited access to operator data.