Vox Royalty Acquires Feasibilty-Stage Stockman Copper-Gold Royalty in Australia

On December 18, 2025, Vox Royalty Corp. announced the acquisition of a 1.5% Net Smelter Return (NSR) royalty over the Stockman copper-gold-zinc-silver project in Victoria, Australia, from a subsidiary of IGO Limited. The royalty reduces to 1.0% after 9 million tonnes of production. The total consideration is up to A$15 million (~US$10 million). Critically, the payment structure is staggered: A$5 million in cash at closing and A$10 million in deferred payments (cash or shares) only after Vox receives royalty revenue for two consecutive quarters at a specific processing rate.

The Stockman acquisition is a strategically sound, low-risk addition to the portfolio. By deferring 66% of the purchase price until the project is actually generating consistent revenue, management has protected the balance sheet against development delays. Based on the 2024 feasibility study, the project could generate >$3M in annual revenue for Vox, representing a ~30% yield on the total purchase price once operational.

However, this must be viewed in the context of the much larger "Global Gold Portfolio" acquisition from Deterra Royalties in September 2025. That $60 million transaction was a "game-changer" that doubled revenue per share projections and transitioned Vox from a small Australian-centric player to a global gold-weighted royalty firm. The Stockman deal serves as an "add-on" that reinforces their core Australian expertise.

Vox Royalty Corp. is a high-growth precious metals-focused royalty company. While historically focused on Australia, the 2025 acquisition of the Deterra portfolio has shifted its "flagship" status to a diversified group of producing gold assets including Fazenda (Brazil) and Greenstone (Canada). The company now holds over 60 royalties and streams, with 14 currently producing assets.