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Vox Royalty
Vox Royalty was established in 2014 by Kyle Floyd, bringing a distressed-asset trading background to the mining royalty sector.
Vox Royalty
Vox Royalty was established in 2014 by Kyle Floyd, bringing a distressed-asset trading background to the mining royalty sector. The firm operates from Grand Cayman with a technical office in Toronto, building a portfolio that focuses on advanced-stage development and producing assets. Rather than originating royalties at the project permitting stage, Vox acquires existing, overlooked royalties and streams from third-party holders and distressed operators — a strategy that requires intensive title due diligence rarely pursued by larger peers. The deployment strategy spans precious metals, base metals, and battery commodities, with royalties acquired across 50+ assets. Geographic concentration falls across mining-friendly jurisdictions in Australia, Canada, and the United States. Named portfolio interests include royalties on Silver Mines' Bowdens Silver project in New South Wales, Sarama Resources' Sanutura project in Burkina Faso, and the Brauna diamond project in Brazil. The firm structures its deals directly with royalty holders or through project operators, typically securing net smelter return royalties or production-linked streams in staged payment structures. Total royalty and streaming acquisitions have exceeded $60 million since 2019, and the portfolio has been built methodically without a megafund raise — relying on public company equity issuance and internal cash flow. Kyle Floyd operates as CEO and primary deal underwriter. The firm is publicly listed on the NASDAQ (VOXR) and TSX Venture Exchange (VOX), providing institutional and retail allocators with a liquid entry point into a traditionally illiquid asset class. In May 2024, Vox reported first-quarter revenues that marked a record for the portfolio, driven by growing production from underlying mine operators. Vox Royalty's structural differentiator is its position as a publicly traded pure-play royalty acquirer targeting the sub-$10 million deal market — a segment too small for Franco-Nevada or Wheaton Precious Metals but requiring technical rigor that generalist investors lack. The public listing structure functions as a permanent capital vehicle, eliminating the mandate expiration and forced-distribution pressures of private funds, while giving underlying operators a currency for royalty buybacks and asset rationalization.
General information
Firm type
Asset Manager
Year founded
2014
AUM
Undisclosed
Location
Region
North America
Country
Cayman Islands
City
George Town
Corporate office
George Town, Grand Cayman, Cayman Islands
Additional offices
Toronto, ON, Canada
Principals
Kyle Floyd
Chief Executive Officer
Riaan Esterhuizen
Executive Vice President, Australia
Simon Cooper
Senior Vice President, Technical
Sector focus
Frequently asked questions
Who runs Vox Royalty and makes investment decisions?
Kyle Floyd, the founder and CEO, is the primary decision-maker for royalty acquisitions and portfolio strategy. He brings a background in distressed-asset trading to the mining royalty sector, which informs the firm's focus on acquiring existing royalties rather than originating them — a model that requires deep title due diligence and an understanding of junior mining capital structures. The technical team in Toronto, led by Simon Cooper, supports geological and engineering evaluations across the 50+ asset portfolio.
How does Vox Royalty source its royalty acquisitions?
Vox targets a fragmented segment of the mining royalty market — existing royalty and streaming interests held by third-party individuals, distressed operators, or small-cap companies that do not prioritize the royalty's value. The firm's deal flow originates through proprietary relationships with mining operators, bankruptcy proceedings, title-servicing firms, and direct outreach to legacy royalty holders. This sourcing model avoids the competitive auction processes typical of larger royalty transactions, giving Vox access to mispriced and under-disclosed assets.
Is Vox Royalty structured as a private fund or a public company?
Vox Royalty is a public company dual-listed on the NASDAQ (ticker: VOXR) and the TSX Venture Exchange (ticker: VOX). This corporate structure functions as a permanent capital vehicle, meaning the firm does not face the fundraising cycles, mandate expirations, or forced distribution schedules common to closed-end private funds. The public listing also offers underlying mining operators the ability to transact with Vox using liquid securities, useful in royalty buyback or asset-swap transactions.
Which commodities and jurisdictions does Vox focus on?
The portfolio covers precious metals (gold, silver), base metals (copper, zinc), and battery commodities (lithium, vanadium), diversified across advanced-stage development and producing assets. Jurisdictional exposure concentrates in tier-one mining regions: Australia, Canada, and the United States, with select holdings in Brazil and Africa. The firm does not target grassroots exploration royalties, preferring assets with defined resources, permits, or development timelines.
Does Vox Royalty originate new royalties or acquire existing ones?
Vox exclusively acquires existing royalties and streams — it does not originate new royalties by funding exploration-stage projects. The acquisition strategy involves buying royalty rights from third-party holders who are not the mine operator, a model that requires rigorous chain-of-title verification and legal due diligence. This approach distinguishes Vox from large streaming companies that typically negotiate new royalty agreements directly with mine developers in exchange for upfront capital.
How is Vox Royalty different from Franco-Nevada or Wheaton Precious Metals?
Franco-Nevada and Wheaton pursue multi-hundred-million-dollar royalty and streaming transactions with major mining companies, a deal-size threshold that excludes most of the global royalty inventory. Vox operates exclusively in the sub-$10 million per-transaction range, targeting assets too small for the major royalty companies but complex enough to deter unspecialized buyers. Vox's public listing also provides a liquidity mechanism unavailable to privately held royalty aggregators, while its overhead structure is scaled to a junior asset portfolio.
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