Vox Royalty Corp (CVE:VOX) is adding to its portfolio of assets with a royalty on the producing Brauna diamond mine in Brazil.
The interest in Brauna, the largest operating diamond mine in South America, was acquired in a C$330,000 deal comprised of C$165,000 in cash and $165,000 in Vox shares, according to a statement.
The 0.5% gross sales royalty interest gives Toronto-based Vox immediate royalty revenue and exposure to the mine.
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Brauna is an open-pit mining operation using an owner-operated fleet which feeds kimberlite ore to a 2,000 tonne per day processing plant. Operators Minera Lipari are currently exploring an additional 21 kimberlite occurrences, giving Vox additional exploration upside on the project.
The seller, an Ottawa-based corporation, will be issued 55,158 Vox shares for the C$165,000 stock portion of the consideration.
"Vox is excited to add another revenue-generating royalty to our portfolio, particularly over South America's largest operating diamond mine,” Voxs vice president of corporate development Simon Cooper said in a statement.
The deal is the firms sixth royalty transaction within three months of having listed on the TSX Venture Exchange, according to Vox, and brings the firms portfolio to 42 royalty assets and one royalty option.
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