Empress Royalty is Scaling Up With Bigger Royalty & Stream Deals

CEO.CA Oct 5, 2026 6:18

Summary

Empress Royalty earned $17 million in 2025 and $17 million more in the first half of 2026, funding larger streaming deals.

An Appian debt facility adds $20 million for new deals as the company builds a full-spectrum royalty and streaming portfolio.

A July royalty package from Almodex added exploration-stage exposure to operators including Westhaven Gold, Kodiak Copper, and McEwen Mining.

Management prioritizes proven operators and uses streams rather than simple royalties across Africa and South America.

Royalty and streaming firms provide upfront capital to small and mid-tier miners in exchange for a share of revenue or metal deliveries.

The CEO names McEwen Mining among the companies in the Almodex exploration royalty package Empress acquired in July 2026, a package she says holds operators with strong track records.

The CEO says a transaction announced the week before the interview has put a debt facility in place with Appian, giving Empress $20 million in additional capital for new deals.
She reports $17 million of revenue in 2025 and another $17 million in the first half of 2026, which she credits with giving Empress the financial flexibility to expand.
She says Empress picked up an exploration-stage royalty package from Almodex in July 2026, adding royalties on companies she believes have strong operators, such as Westhaven, Kodiak and McEwen.
She says a deal with AI company Geomorphic is helping Empress speed through technical reviews on its deals.
Looking to 2027, she says Empress aims to become a full-spectrum royalty and streaming company, diversifying beyond its four producing assets and redeploying capital into new deals.

Top takeaway The CEO says the transaction announced the week before the interview puts a debt facility in place with Appian, giving Empress $20 million in additional capital for new deals.
She reports $17 million of revenue in 2025 and another $17 million in the first half of 2026, which she credits with giving Empress the flexibility to expand its portfolio.
She says the Almodex exploration royalty package picked up in July 2026 was a step beyond Empress's past deals, adding royalties on companies she believes have strong operators.
She argues exploration royalties are best held in North American jurisdictions for safety, while Empress focuses development and producing streams on Africa and South America, including a new deal in Cote d'Ivoire.
On deal selection, she says people are the number one consideration and that Empress kills most deals at the technical due diligence stage.