News about Empress Royalty

Empress Royalty Corp. (TSXV:EMPR) has closed its acquisition of a gold stream on the Tongon Gold Mine in Côte d'Ivoire, owned by Atlantic Group, along with related debt financing with Appian Capital Advisory. The stream was bought from Appian Tongon Streamco Ltd. for an upfront US$62M cash payment plus possible contingent payments. Empress is entitled to 3.58% of payable gold until 400,000 cumulative ounces are delivered, 2.93% until 600,000 ounces, and 0.81% thereafter for about 29 years. Following the deal, Empress raised its 2026 production guidance to 8,000–8,500 attributable gold equivalent ounces from 7,045–7,430. Atlantic is drilling across multiple deposits under a two-year exploration program of about 180,000 metres, with an updated life-of-mine plan expected by December 2026, and Empress does not fund Tongon's exploration, operating or capital costs.