Vox Royalty (VOXR) said Thursday it has agreed to acquire an existing royalty on the feasibility-stage Stockman copper-gold-zinc-silver project in Victoria, Australia, for total consideration of up to 15 million Australian dollars (about $10 million).

The deal covers a 1.5% net smelter return royalty, which will step down to 1% after nine million tonnes of production, Vox said. The royalty is being purchased from IGO Stockman Project, a unit of IGO.

Stockman is operated by Aeris Resources and is considered one of Australia's most advanced undeveloped polymetallic projects, according to a statement.

The transaction has received conditional approval from the Toronto Stock Exchange, and is expected to close in December, the company said.

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