June 2021: May see the beginning of the end of the London Bullion Market Association The London Bullion Market Association (now known simply as LBMA), established in 1987, is the international trade association representing the global Over The Counter (OTC) bullion market, and defines itself as "the global authority on precious metals". There will be a requirement for banks holdings to meet a ratio limit between tangible assets and unallocated assets. The ratio is named Required Stable Funding and the crux of the matter is that if the bullion banks can no longer trade their paper and unallocated gold without holding physical allocated assets, the derivatives market could collapse. The 3 parts of the Basel 111 regulations that affect the paper gold markets are: • The Available Stable Funding factor (ASF) is applied to the sources of a bank’s funding on the liability side of its balance sheet. Depending on the liability (shareholders’ equity, customer deposits, interbank loans etc.) they are multiplied by a factor, from 100% for the most stable forms of funding, such as Tier 1 bank equity, to 0% for the least stable. Being on their balance sheets, unallocated gold owed to a bank’s deposit customers is to be given a Basel III ASF of 0%, which means it will not be permitted to be a source of funding for any balance sheet assets, which must therefore be funded from other liabilities. • The Required stable funding (RSF) is to be applied to a bank’s assets. Unallocated gold positions are to be valued at 85% of their market value. Note that allocated gold, being held in custody, is not on bank balance sheets (except where the bank actually owns physical gold in its own right) and is therefore not involved in the calculation. • The Net stable funding requirement (NSFR) is the ASF divided by the RSF and must be at least 100% at all times.
So the research report.... `March 31, 2021Another Accretive Australian AcquisitionDavid A. Talbot| MD, MiningAnalystresearch@redcloudsecurities.com 1.The analyst has visited the head office of the issuer or has viewed its material operations. 2.The issuer paid for or reimbursed the analyst for a portion or all of the travel expense associated with a visit.3.In the last 12 months preceding the date of issuance of the research report or recommendation, Red Cloud Securities Inc. has performed investment banking services orhas been retained under a service or advisory agreement by the issuer. 4.In the last 12 months, a partner, director or officer of RedCloud Securities Inc., or the analyst involved in the preparation of the research report has received compensation for investment banking services from the issuer. 5.The analyst who prepared this research report has a long position, in the issuer’s securities. 6.The analyst who prepared this research report has a short position, in the issuer’s securities. 7.Red Cloud Securities Inc. and its affiliates collectively beneficially owned 1% or more of any class of issuer’s equity securities as of the end of the month preceding the date of issuance of the research report or the end of the second most recent month if the issue date is less than 10 calendar days after the end of the most recent month. 8.A partner, director or officer of Red Cloud Securities Inc. serves as a Director or Officer or Advisory Board Member of the issuer.9.Apartner, director or officer of Red Cloud Securities Inc. or any analyst involved in the preparation of a report has, during the 12 preceding months, provided services to the issuer for remuneration other than normal course investment advisory or trade execution services. 10.The analyst who prepared this research report was compensated from revenues generated solely by the Red Cloud Securities Inc.’s Investment Banking Department. 11.Red Cloud Securities Inc. is a market maker in the equity of the issuer. 12.There are material conflicts of interest with Red Cloud Securities Inc. or the analyst who prepared the report and the issuer. Nothing to see here?
Vox continues to monetise its portfolio, https://bit.ly/33WXJx7 Vox to monetize non-core graphite royalties for C$2.9M and partner with Electric Royalties CEO Kyle Floyd said the portfolio of graphite royalties is “a natural fit for Electric Royalties” and the transaction is an “opportunity for Vox to unlock the value of these royalties”
https://bit.ly/3vsuWwn VOX ROYALTY REPORTS Q1 2021 RESULTS Looks like they are on track to meet expectations this year. Q1 results are positive.
Kyle Floyd, Chief Executive Officer stated: “The first quarter of 2021 marked another milestone for Vox as it reported record revenues. The Company is well on track to achieve its previously announced 2021 royalty revenue guidance of C$1.7M to C$2.5M. The embedded organic growth in our portfolio of 50 royalty assets continues to build. Every month our shareholders are benefiting from exploration successes, fast-tracking of development and production increases on our royalty properties. The coming quarters have strong potential to be the most productive in Vox’s seven year history.”
$XAUUSD $GC is currently trading higher, even as the commercials increase their short positions. $GDX Gold miners are currently consolidating in time, not price. A pullback to the lower bound on the Stoch should indicate the next opportunity to buy the dip, should we get one. Vox Royalty provided exploration updates from some key partners who have announced in excess of 80,000m of planned drilling. The recent results show high-grade drilling results at shallow depths across multiple projects.
https://bit.ly/3uNfsCa , A busy year for Vox Royalty in2 021, Vox’s partners announced 80k meter drilling for 2021, Investors should expect multiple resource updates which will add considerable value to Vox’s current royalties. Pitombeiras (PEA Stage) – PEA Update and Drilling update • Vox holds a 1% net smelter royalty over the Pitombeiras vanadium-iron ore project; • On May 4, 2021, Jangada announced additional drilling results and an updated mineral resource and PEA timing: ◦ 22 drill holes for 1,466m completed with 18 holes intersecting vanadiferous titanomagnetite mineralisation; ◦ Upgraded and expanded Mineral Resource Estimate and revised PEA scheduled for completion in Q3 2021; and ◦ PEA focus is on evaluating a Direct Shipping Ore operation for the export of a saleable magnetite concentrate containing a minimum of 62% Fe and additional credit from 25% contained V2O5. The Pitombeiras project should be fast-tracked towards productions around Q1 2022. Battery metals are becoming more important as the world moves towards electrification. As well as Vanadium Vox across its 50 royalties has several copper projects all well capitalised, moving towards final investment decisions and production. last year Vox lead the industry in acquisitions, bringing regular organic news flow over then next few months investors should expect new updates on new gold royalties.
$VOX.CA Vox Royalty Corp, Spencer Cole says the Vox Royalty is set to buy, for US$1.98 million in cash, a royalty on part of Gold Standard Ventures Corp's (TSE:GSV) Railroad-Pinion gold project. Cole says the project ,which sits on the prolific Carlin Trend in Nevada, and is rapidly advancing towards the completion of a feasibility study and a subsequent construction decision. The company has struck binding agreements with a group of private individuals on the acquisition of a 0.633% net smelter returns (NSR) royalty on the so-called South Railroad part of the project, which comes with advance minimum royalty payments of more than C$120,000 per year.