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Empress Royalty

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Empress Royalty Corp.

Investor website: https://empressroyalty.com/

About

Empress Royalty Corp. is a growth-focused company that creates and acquires gold and silver royalties and streams. The company pairs recurring revenue from producing mines with a disciplined mining finance team, aiming to scale its revenue significantly from US$1.8M in 2022 to a projected US$17.2M in 2025.

Verified company data

Cash position
US$19.4M
Shares outstanding
127,992,905
Fully diluted shares
150,176,237
Mineral resource
The Technical Report provides a Total Mineral Resource estimate for Fair Bride at a cut-off grade of 0.5 g/t. The Mineral Resource estimate is further subdivided into a Surface Minable Mineral Resource (“Open Cut Mineral Resource”) and an Underground Mineable Mineral Resource. A cut-off grade of 0.5 g/t was used for the Open Cut Mineral Resource and a higher cut-off grade of 1.5 g/t was used for the Underground Mineable Mineral Resource. The tables below summarise the resources as set out in the Technical Report. **Total Mineral Resource for Fair Bride** (at 0.5% g/t cut-off grade as at February 1, 2021) | | | | | | | --- | --- | --- | --- | --- | | **Mineral Resource Category** | **Tonnes** | **Gold Grade** | **Gold Content** | | **Mt** | **g/t** | **kg** | **koz** | | Measured | 9.764 | 1.86 | 18,163 | 584.0 | | Indicated | 4.239 | 1.59 | 6,757 | 217.2 | | **Total M&I** | **14.003** | **1.78** | **24,920** | **801.2** | | Inferred | 12.930 | 1.65 | 21,313 | 685.2 | Notes: _1) Mineral Resources are declared at indicated cut-offs. 2) No geological losses are accounted for. 3) A gold price of USD$1,650 /oz was used for the cut-offs. 4) Mineral Resources are inclusive of Minerals Reserves (no Mineral Reserves declared). 5) Mineral Resources are reported as 100% attributable._ **Open Cut Mineral Resource at 0.5 g/t cut-off grade and final depth of 280m below surface as at 1 February 2021** | | | | | | | --- | --- | --- | --- | --- | | **Mineral Resource Category** | **Tonnes** | **Gold Grade** | **Gold Content** | | **Mt** | **g/t** | **kg** | **koz** | | Measured | 9.750 | 1.86 | 18,130 | 582.9 | | Indicated | 3.310 | 1.62 | 5,368 | 172.6 | | **Total M&I** | **13.060** | **1.80** | **23,498** | **755.5** | | Inferred | 0.894 | 1.17 | 1,049 | 33.7 | Notes:  _1) Mineral Resources are declared at indicated cut-offs.  2) No geological losses are accounted for.  3) A gold price of USD$1,650 /oz was used for the cut-offs.  4) Mineral Resources are inclusive of Minerals Reserves (no Mineral Reserves declared).  5) Mineral Resources are reported as 100% attributable._ **Underground Mineral Resource at 1.5 g/t cut-off and depth from 280m below surface as at 1 February 2021** | | | | | | | --- | --- | --- | --- | --- | | **Mineral Resource Category** | **Tonnes** | **Gold Grade** | **Gold Content** | | **Mt** | **g/t** | **kg** | **koz** | | Measured | 0.005 | 4.40 | 24 | 0.8 | | Indicated | 0.307 | 2.61 | 801 | 25.8 | | **Total M&I** | **0.312** | **2.64** | **825** | **26.5** | | Inferred | 5.350 | 2.59 | 13,874 | 446.1 | Notes:  _1) Mineral Resources are declared at indicated cut-offs. 2) No geological losses are accounted for. 3) A gold price of USD$1,650 /oz was used for the cut-offs. 4) Mineral Resources are inclusive of Minerals Reserves (no Mineral Reserves declared). 5) Mineral Resources are reported as 100% attributable._
Projects
["Sierra Antapite\n\nInvestment Overview\n\nInvestment SizeUS $10M\n\nInvestment Type4.5% Stream\n\nCommodityGold\n\nOperatorSierra Sun Group\n\nIn July 2021, the Company completed the execution of a gold stream agreement on the Sierra Antapite mine in Peru, owned by the private corporation Sierra Sun Group through its 100% owned Peruvian company Sierra Antapite S.A.C. Mining Unit (“Sierra Antapite”).\n\nThe stream is on gold production from the Sierra Antapite mine at 20% of the gold spot price based on 4.5% of gold production for the first 11,000 gold ounces and 1% thereafter for life of mine. The stream is registered and secured against the mine and was funded in three tranches: US$5,000,000 in July 2021, US$2,500,000 in September 2021, and US$2,500,000 in December 2021. The mine will use Empress' investment to increase processing capacity from 750 to 1,000 tonnes-per-day.\n\nThe mine is fully permitted, has all social licenses to operate, and sells doré bars through either Metalor Technologies, a Switzerland-based refiner, or through Procesadora Sudmerica S.R.L, a Peru-based refiner. The cyanidation and carbon-in-pulp flowsheet is straightforward, with no need for fine or ultra-fine grinding, no refractory ore, and the flowsheet uses “off the shelf” technology. As an operating company with a track record, realized results de-risk many operating assumptions and inputs used in production forecasts.\n\nLocation\n\nOcoyo, Peru\n\nCumulative Revenue\n\nUS$0M\n\nRoyalty & stream income to Mar 31, 2026","Manica Gold Mine\n\nInvestment Overview\n\nInvestment SizeUS $3.5M\n\nInvestment Type3.375% Royalty\n\nCommodityGold\n\nOperatorMMP\n\nOn January 17, 2022, Empress increased its royalty from 2.25% to 3.375% by paying an additional US$1M under the previously executed Royalty Purchase Agreement (executed April 21, 2021). The Royalty is on gold sales from the Manica project operated by Mutapa Mining & Processing LDA (MMP), up to a total of 95,000 oz of gold. Thereafter, the royalty percentages will be reduced to 1.125% and shall continue into perpetuity. The royalty is secured by a first-ranking security interest in certain assets of MMP.\n\nManica is located in the Odzi-Mutare-Manica Greenstone Belt of Mozambique and comprises several deposits on Xtract Resources Plc's (“Xtract”) mining concession licence 3990C which includes four main deposits: Fair Bride, Guy Fawkes, Boa Esperanza, and Dots Luck. MMP and Xtract have entered into a collaboration and profit-share arrangement whereby MMP will build, finance and operate a carbon-in-leach (CIL) plant to process ore mined from Xtract's concession.\n\nMMP has advised Empress that it intends to mine and process the oxide and transitional ore at Fair Bride and other deposits on the Concession by installing a processing plant utilising a CIL process capable of processing up to 42,000 tonnes per month. An existing grinding circuit is already in place and MMP is advancing the engineering, fabrication and installation of the CIL plant and preparation work for associated infrastructure.\n\nLocation\n\nMozambique, Africa\n\nCumulative Revenue\n\nUS$0M\n\nRoyalty & stream income to Mar 31, 2026"]
Leadership
Alexandra Woodyer Sherron (CEO & President, Experienced leader in the precious metals investment industry with a focus on growth and strategic partnerships.), Michelle Borthwick (Corporate Secretary, Corporate finance and governance professional with over 25 years of experience in senior roles, previously with Endeavour Mining Corporation and founder of Peakshore Consulting Inc.), Stefan Gleason (Managing Director of Gleason & Sons, Entrepreneur with a proven track record in the precious metals investment industry.)

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