Empress Closes Tongon Gold Stream Investment and Debt Financing

Empress Royalty Corp. has completed its acquisition of a gold stream on Côte d'Ivoire's Tongon Gold Mine, operated by the Atlantic Group. The company has also finalized a related debt financing with Appian Capital Advisory. This strategic move is expected to enhance Empress' production by incorporating a well-established gold mine along with active exploration programs.

The acquisition involved an upfront cash payment of US$62M, with potential contingent payments. Empress Holdings will gain 3.58% of payable gold production from Tongon until 400,000 ounces are delivered. With the transaction closing, production guidance for 2026 has been raised to 8,000-8,500 gold equivalent ounces.

The extensive exploration at Tongon includes a two-year program targeting significant sites. These initiatives are geared towards extending mine life and boosting gold production. Moreover, a US$75M credit facility aids Empress' growth plans, with US$20M kept available for future ventures.