Dig Deep Exploring The Royalty Space - with Spencer Cole
In this episode we chat to Spencer Cole, Chief Investment Officer for Vox Royalty who are a mining royalty company with a portfolio of over 60 royalties and streams spanning 8 jurisdictions. Since the beginning of 2020, Vox has announced over 25 separate transactions to acquire over 50 royalties. In the past 6 months alone Vox has dual listed on the NASDAQ exchange, launched a maiden dividend and announced +160% annual revenue growth.
With a Masters of Engineering and a Bachelor of Commerce, Spencer co-founded Mineral Royalties Online (MRO), a specialist marketplace/brokerage for mineral royalties underpinned by developing the world’s largest proprietary royalty database, which was subsequently sold to SilverStream in 2019. While at MRO, Spencer was involved in over $1 billion of royalty transactions. In addition to co-founding MRO, Spencer has spent over 10 years at BHP, South32 and UBS Investment Bank in a wide range of commercial and technical mining roles. Spencer gives us an update on VOX Royalty and give us a more in-depth understand of the royalty space and why data is becoming more important than ever within the mining industry.
KEY TAKEAWAYS
- Toronto is the home of many mining companies, but the true understanding required for the industry is not quite there.
- The ASX continues to support African projects more, whereas the Toronto Stock Exchange and TSX venture support South American more consistently.
- Junior explorers have historically sold mining projects and kept a contract that gives them a future royalty scheme.
- There is a huge volume of data in the mining industry that is not being properly processed and evaluated. This is representative of the opportunity we have in the sector to find insight and benefit.
- Royalty a mainly North American-focussed sector. Most royalties are generated when businesses sell mining claims. There are simply more gold royalties in North America because it’s a rich area in terms of gold.
BEST MOMENTS
'I'm a reformed investment banker'
'There's a slight bias in terms of which geographies they'll allocate capital to'
'Toronto is a pretty fun place to live, particularly as a mining executive'
'We're typically finding these royalty contracts sitting in the hands of prospectors'
'The benefit of hindsight is always a double-edged sword'
VALUABLE RESOURCES
Dig Deep – The Mining Podcast on iTunes
https://www.linkedin.com/company/voxroyalty/
https://twitter.com/vox_royalty
VALUABLE RESOURCES
mailto:rob@mining-international.org
https://www.linkedin.com/in/rob-tyson-3a26a68/
http://www.mining-international.org
https://twitter.com/MiningConsult
https://www.facebook.com/MiningInternational.org
https://www.youtube.com/channel/UC69dGPS29lmakv-D7LWJg_Q?guided_help_flow=3
ABOUT THE HOST
Rob Tyson is the Founder and Director of Mining International Ltd, a leading global recruitment and headhunting consultancy based in the UK specialising in all areas of mining across the globe from first-world to third-world countries from Africa, Europe, the Middle East, Asia, and Australia. We source, headhunt, and discover new and top talent through a targeted approach and search methodology and have a proven track record in sourcing and positioning exceptional candidates into our clients' organisations in any mining discipline or level. Mining International provides a transparent, informative, and trusted consultancy service to our candidates and clients to help them develop their careers and business goals and objectives in this ever-changing marketplace.
CONTACT METHOD
https://www.linkedin.com/in/rob-tyson-3a26a68/
Podcast Description
Rob Tyson is an established recruiter in the mining and quarrying sector and decided to produce the “Dig Deep” The Mining Podcast to provide valuable and informative content around the mining industry. He has a passion and desire to promote the industry and the podcast aims to offer the mining community an insight into people’s experiences and careers covering any mining discipline, giving the listeners helpful advice and guidance on industry topics.