Rick Rule on a transformative royalty acquisition…

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Record Revenue…Then A Massive Gold Stream

Now Get Ready For The Encore

Empress Royalty Corp. (EMPR.V; EMPYF.OTC) just posted record first-half revenue…and now it’s just announced a transformational transaction.
 

Watch this interview to see how one gold stream could reshape a royalty company that was already posting record growth...

CLICK HERE to watch Nick Hodge's Interview with Rick Rule and Empress CEO Alexandra Woodyer Sherron on how the company’s new gold stream will take the company to an entirely new level...

A royalty company puts up capital just once.

Then it collects a cut of production for years afterward — without the drilling, exploration or production costs that weigh on a miner's margins.

Empress Royalty Corp. (EMPR.V; EMPYF.OTC) just used that model to make the largest move in its history.

The Stream Behind The Transformation

On September 17, Empress agreed to acquire a gold stream on the Tongon Gold Mine in Côte d'Ivoire — an established open-pit operation that has produced more than 3 million ounces of gold since entering commercial production in 2010, and delivered approximately 125,600 ounces in 2025 alone under current operator Atlantic Group.
 

The price is only US$62 million in cash up front.

In return, Empress receives 3.58% of Tongon's payable gold production until 400,000 cumulative ounces have been delivered, stepping down to 2.93% and eventually 0.81% over a stream term of roughly 29 years — while paying just 0.5% of the spot gold price for every ounce it receives.

“This will be a transformational transaction for Empress,” said Alexandra Woodyer Sherron, CEO and President of Empress.
 

“The Tongon Gold Stream is expected to substantially increase our gold ounces, revenue and cash flow from an established producing mine.”

Limiting Dilution While Scaling Up

Empress is funding the purchase with a new US$75 million credit facility — US$55 million drawn at closing, with US$20 million more available over the next year for future acquisitions — while simultaneously repaying its prior credit facility in full.

The transaction follows record first-half revenue of $17.3 million, up 166% year-over-year, reported in August, and a 14-royalty acquisition across Canada, the U.S. and Mexico that closed earlier that same month.

Even before these transactions, Empress traded at a fraction of its royalty-sector peers — roughly 2.6 times projected 2026 revenue and 3.4 times cash flow per share, against peer averages of roughly 16 times and 19 times, respectively.

And those multiples don't yet reflect their new stream on a mine that generated approximately $445 million in revenue for its operator last year alone.

Few royalty companies close one deal and announce a transformational one within weeks of each other.
 

Watch the interviews below to see how Empress Royalty Corp. is funding its next chapter.

CLICK HERE to watch Nick Hodge's Interview with Rick Rule and Empress CEO Alexandra Woodyer Sherron on how the company’s new gold stream will take the company to an entirely new level...

CLICK HERE

To Learn More About Empress Royalty Corp.

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