Empress Royalty Acquires Tongon Gold Stream and Secures Financing

Empress Royalty Corp announced a major acquisition of a gold stream from the Tongon Gold Mine in Côte d'Ivoire. The agreement involves a US$62 million upfront payment to Appian Tongon Streamco Ltd. Empress Holdings also secured a US$75 million credit facility from Appian Empire Loanco to finance the acquisition and future investments.

The Tongon Gold Stream increases Empress's gold assets, boosting revenue and cash flow. Appian's CEO praises Empress's approach and the mutual benefits expected from the partnership. Empress aims to capitalize on Tongon’s production and exploration potential.

Closing of the agreements is pending regulatory approvals and other customary conditions. The acquisition marks a significant step in Empress's strategy to expand its portfolio in the streaming and royalty sector.