 Love to welcome everybody back to the Independent Investor Channel. We have a very special guest, a returning guest, Mr. Kyle Floyd. He is the CEO of Vox Royalty. We are proud to have him on for an extra special update on the company's progress here as we enter into 2022. Vox Royalty has got to the ball rolling. Kyle, good evening to you, my friend. Thank you so much for your time. Please let the viewers know what we've got here coming down the pike here for Q1. Yeah. Well, Ryan, thanks first off for having us back on the program. Always a privilege to be with you. Really excited to come on and announce Record Q1 Revenue for Vox Royalty Corp. Really a result that exceeded our lofty expectations internally. Excited to deliver this news to the market and really what is a continuance of the strength of our business and what is obviously a very volatile market. The macroeconomic backdrop is certainly uncertain. But for Vox, I've yet to see a stronger market for our business and for the fundamentals of our business. And so we continue to execute this quarter just to put it in perspective. This quarter alone was our initial guidance for the entire year of 2021. We ended up obviously raising that guidance and handing some pretty lofty expectations for 2021. But that puts in perspective how significant this quarterly revenue is. And it's really our business model harnessing what's available to us based on our competitive advantages and what in the broader markets is obviously very difficult for us right now. We find ourselves in a very opportunistic state. Dilip, I think Kyle, you hit it on the head and I think you're one of the biggest best kept secrets in the market. I think it's going to be very difficult to keep a lid on this. Okay, we're talking just shy of $1.5 million in the US, just shy of $1.9 million CAD for the quarter alone. I looked at this, Kyle, I thought it was a typo. But I've done a self-study on your company. I've been intimately following you guys and you guys have got all the pedigree. From your business plan, your team and your execution, it's second to none compared to the landscape. Can you give us some idea of where that revenue came from in Q1 in 2022? Yeah, it wasn't just one factor that was driving this revenue. I think that's what's great and something for investors to keep in mind when they're considering other investments and Vox is diversification of revenue streams. So we have five producing assets and this quarter saw a full quarter from our royalty over the segment of Goldmine. And so that was really significant in that they sustained higher production levels and we're seeing a very high Gold price and what people lose sight of is $1,800, $1,900 Gold is fantastic. Our business model is priced in backwardation. Our business model is priced in lower metal prices in the future, not higher metal prices or not even flat metal prices. So when that happens, that's tremendously productive for a business like Vox. That's atypical. Most of our peers in the industry and comps in the industry, they have a tendency, I think sometimes to get caught up in that Gold's going to $10,000 or $5,000. That's not our business model. Our business model is limiting risk but increasing positive exposure for our shareholders. And so that was a big driver. Also, we saw production increases in our producing iron ore royalty in Western Australia and sustained higher prices in iron ore. So really it is the benefit of, I would say not just one asset, but multiple assets achieving higher production numbers and sustained high metal prices, which is what our business was built to capture for investors. Yeah, absolutely. And just for anybody that's not familiar with Vox royalty, I'm going to leave all the information in the description below. You're going to want to kick over. Vox royalty has provided their entire suite of their entire portfolio from their exploration piece of their portfolio up to their development stage and what Kyle was alluding to the five net producing assets, the Segolola and the Kulia Knobbing. As we look forward into the future, are these assets going to continue to be the payoff from quarter to quarter? Or are we going to look to some other assets to supplement the revenue as we look forward into 2022, Kyle? Yeah, again, it's a really exciting period of time for us in that what's already in the portfolio, that's not counting what we'll be able to go acquire and bring in at great value. So new royalties that we can go acquire. What we call the organic growth, what we've already got in the portfolio doesn't require any more capital from us for those assets. They're performing exceedingly well. So yes, these two assets we expect to be a mainstay of our portfolio over the next couple of years. However, we're expecting to go from five production stage assets to eight production stage assets by the end of this year. So that's significant growth. And if you recall when we went public, we had one producing asset that was back in May 2020. So we're buying most of these assets pre-production. And then our mining engineers and geologists have done the hard work to project these assets out. And we're realizing the benefits of that in a very material way. And so the other major catalyst is the Janet IV royalty, which we bought last year. That is undergoing a $400 million expansion process that makes it the largest Heaplease Gold project in all of Australia. This revenue is not factoring that in at all. So that is expected to kick in the back half of this year. So really, all cylinders are firing well. We're expecting to bring in more deals beyond what we already have in the portfolio. But if we didn't bring in anything else, we're trading at such a tremendous discount to our peers. And the business we expect, we have current revenue, we have a huge stable of development stage assets that we cherry-picked and hand-selected to bring into our portfolio that we believe is going to create this kind of growth for years and years to come for our shareholders. And again, we don't have to supply operational cash to keep these assets running. And we're not exposed to the inflationary pressures they're eating away at the margins of mining companies. So we're in a very nuanced, I think, beneficial position to keep realizing shareholder games. You guys are. And your execution is top notch. You guys are the number one royalty company that I cover. And compared to the peers, what Kyle's talking about is the net asset value. You guys trade as low compared to your peers as any that I've seen. Last I checked, you guys were 0.7 nav, which is absolutely a nevig. So for your fundamental investors that are looking at the opportunity here with Vox, listen to what Kyle's talking about coming off of a record-breaking quarter, moving into 2022 with all things firing. Can you talk a little bit, Kyle, about you talked a little bit about the gold price being high right now. Are you sensing that these results are going to be exclusive to Vox royalty, or are you sensing that there is some widespread success across the commodities market as a whole? Well, it's a complex matrix really for investors right now to be considering, because the mining companies themselves, yes, metal prices are very buoyant, but metal prices have been kind of where they are now for over a year. And the problem is inflation is really a disease that's not slowing down right now. And so that's eating away at the margins of mining companies. I think you're going to see that more acutely affecting their income statements over the coming quarters. And so I can't speak broadly for the sector. It does typically perform well in inflationary regimes, but I would have to say the royalty companies that are showing that they can grow their revenue, grow their profitability metrics, and really endure the benefit of expanding margins, I think are going to be the royalty companies that really outperform as a subset of the commodity sector. And so we've done a very good job of diversifying our business, yet we're a small cap company trading in a discount with tremendous growth. And in terms of return on invested capital, nobody in the sector is matching with Vox Royalty Corp was doing. And I think that's a really key metric that doesn't get talked about a lot, but it's showing and it's validating that our ability to find great royalties at great value and have that value really materialized for our shareholders is happening and is paying off. And so we expect that to continue to be the case. We're excited about the coming quarters in years in front of us. But in terms of the broader market, where should investors be looking at? I think there's a certain class of royalty company that's presenting a really unique opportunity right now for investors. And amazingly, I don't think the market is entirely woken up to that yet, but I think that it will. No, I agree with you. And I think the sky's the limit for you guys. I want to talk a little bit about if I were to sit back and I'm unfamiliar with Vox Royalty, and I look at your geographic exposure. All right, I look at the top five of your net producing assets, three out of the five are out of Australia. So if you can just kind of summarize the quality of the top end of your portfolio, Kyle, please understand what's driving a lot of this value at the top end of your net asset producing, please. Yeah, this is an exciting topic to touch on for Vox and that we really focused on Australia. We had competitive advantage in Australia and we executed on those advantages really, really well. And so we have the second largest holding of hard rock mining royalties in Australia, only after Franco Nevada, which is the largest royalty company in the sector at over a $30 billion market cap. So we made a lot of progress in a very short period of time, accumulating a fantastic portfolio there. And so almost 80% of our portfolio is either in Australia, Canada, the US, but it's mainly dominated Western Australia. And Western Australia was just named the best mining jurisdiction by the Fraser Institute for 2021. We've been telling people for years, if you want to bring particularly a gold mine, but it just isn't exclusive to gold, but if you want to bring a gold mine into production and have that, I would say, stability of rule, of rule of law, of regulations, of quality people operating, quality operations, doing things the right way, Western Australia is almost like no other place on earth. And so we are enjoying the benefit of that exposure and in a really tremendous way. So a lot of the growth is due to what's happening in Western Australia and us buying royalties that are now coming into production and increasing their production numbers and realizing high metal prices. And two of the assets that we expect to come online this year out of the three, so that will take us from five to eight producing assets are in Western Australia. And the very significant expansion of Janet Ivy that we touched on, that's also a Western Australian asset. So really, we're in the right mining jurisdiction, realizing the right kind of results for our investors. I can't find any fault in your company, you have no debt, you've got cash, you've got a wide swath, one of the most healthy portfolios of assets, as deep as your database of over 8,000, we've touched on that previously. But I do want to, I can't talk to you, Kyle, without giving ample credit to your team and your strategic business plan and vision for how you identify these royalties and how you bring them under the Vox umbrella. Can you speak a little bit about the team, your strategy and how they deserve some of this credit and kudos for a record-breaking quarter? Yeah, and I appreciate that question, Ryan, because we have systematically built a business with the benefit of very patient shareholders at the outset that allowed us to create a true competitive advantage for our shareholders and for our company that we continue to be able to execute on. And it really started with finding a technical team that was very experienced in the world of royalties and royalty acquisition. So it's a team of mining engineers and geologists that had decades of experience in royalties, understanding the technical elements that mining engineering, the geological risks, the metallurgy and bringing that skill set mixed in with their tremendous experience around royalties under one roof and then adding on to that team continuously over the last couple of years to create this engine. And then this engine is centered around what is the world's largest proprietary database of third-party royalties. And so having the people that are able to really extract the value from this database and find interesting opportunities and then be able to bring those opportunities into the portfolio is somewhat unprecedented in our sector and is obviously enabling a lot of the value that we're creating. You guys are top tier player in this space, there's no doubt about it. I'm investing most of my life 25 years plus and it's a treat for me to review your company. You guys are just knocking it out of the park. For investors out there that are interested in more information, you need to kick over to www.voxroyalty.com. They've got a phenomenal website, their entire suite of the portfolio news releases as well as the investor presentation. If you want to email info at www.voxroyalty.com and just want to congratulate you and the team on the quarter, I'll give you the last word, Kyle. Well, thank you, Ryan. It's really been a tremendous quarter. We are in such a fantastic position. I understand and sympathetic to many investors out there that are struggling with the market today and the uncertainty that it presents. But what I will say is, if you're looking for businesses that are thriving in the current market environment, continue to take advantage of the market environment. Vox is really in good position to keep doing that and we are doing that. This past record revenue quarter for us is really just the validation of our ability to continue executing. I'm excited about what we have in front of us. These types of markets create a lot of opportunity for us to find new royalties at great value and bring those into the portfolio. Really, all facets of our business are in fantastic shape. It's exciting for us as the management. It's a privilege to work for our shareholders and excited that we could share this news with your audience, Ryan. So, thank you. Absolutely. As we close it out here, record breaking Q1 earnings for Vox Royalty well deserved. It's a breadth of many hands that go into a result like that and highest congratulations to you and the Vox Royalty team. Keep us posted. Going into 2022, we're going to be tracking your progress very closely. Kyle, again, congratulations and thank you so much for coming on and sharing your breaking news with our independent investor audience. Thanks, Ryan. It's always my privilege. I appreciate it. You bet. Take it easy.