US$60m Agreement to Sell Gold Offtakes and Royalties

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Stock Deterra Royalties Ltd (DRR.ASX)
Release Time 24 Sep 2025, 8:30 a.m.
Price Sensitive Yes
 Deterra Royalties Sells Gold Offtakes and Royalties for US$60M
Key Points
  • Sale of gold offtakes for US$56M, delivering 25% pre-tax IRR
  • Sale of St Ives and Dandoko gold royalties for US$4M
  • Proceeds to be used to reduce Deterra's net debt
Full Summary

Deterra Royalties Limited (ASX: DRR) has announced the sale of its non-core gold offtake assets, along with its St Ives and Dandoko gold royalties, for a total consideration of US$60 million (approximately A$91 million) to Vox Royalty Corp (NASDAQ/TSX:VOXR). The key highlights of the transaction include:- US$56 million sale of gold offtakes, delivering a pre-tax return to Deterra since acquisition of US$13.3 million (approximately A$20 million), representing a 25% pre-tax IRR. Deterra acquired the gold offtake assets as part of the Trident Royalties Plc acquisition in September 2024.- US$4 million sale of royalties over the St Ives gold project in Western Australia and the Dandoko gold project in Mali. US$1.5 million will be paid in cash upon completion, with Vox assuming contingent payment obligations of US$2.5 million related to Dandoko.- The transaction, along with the recent sale of the La Preciosa silver assets, marks the completion of Deterra's divestment of non-core assets acquired through Trident, generating aggregate consideration of US$82 million (approximately A$124 million).- The after-tax proceeds from these sales will be used to reduce Deterra's net debt, providing further balance sheet flexibility as the company builds a diversified mining royalty portfolio to complement its cornerstone Mining Area C (MAC) royalty.

Outlook

Deterra will continue to focus on its strategic investment in base, bulk, battery and electrification commodities, while maintaining a disciplined approach to capital management and portfolio optimization.