Vox Royalty Corp. (NASDAQ:VOXR) saw its stock rise 1.2% after receiving regulatory clearance for a substantial expansion at the Binduli North gold project in Western Australia, where Vox holds an uncapped production royalty.
Norton Gold Fields (NYSE:GFI), part of Zijin Mining Group, secured approval to boost crushing and grinding capacity by 40%, raising throughput to 7 million tonnes per annum (Mtpa). The extended mine plan envisions operations lasting around nine years, with processing capacity reaching up to 8 Mtpa.
This growth in capacity is expected to significantly increase revenues from Vox’s uncapped A$0.50 per tonne royalty on the Janet Ivy mining leases. At the new 7 Mtpa production rate, Vox anticipates annual royalty income could exceed US$2 million.
Enhancements include installing a mobile crushing circuit, expanding ore stockpiles, and improving processing flexibility between heap leach facilities and the Paddington Mill. The Mining Proposal received approval from Western Australia’s regulators on July 16, 2025, roughly ten weeks after its submission.
Since starting ore processing in September 2022, the Binduli North project produced about 51,450 ounces of gold in 2024, marking its second full year of production. The Janet Ivy gold deposit covers a 1.3-kilometer strike and remains open for further exploration both laterally and at depth.
Spencer Cole, Vox’s Chief Investment Officer, commented on the expansion’s impact: “At this increased 7 Mtpa throughput, we expect this royalty to deliver more than US$2 million annually, representing a 50% cash return on the original investment.”
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