Empress Royalty Corp (TSX-V:EMPR, OTCQB:EMPYF) issued a shareholder update Tuesday, outlining the progress of its gold and silver streams in 2022, along with potential catalysts in 2023.
"2022 was a pivotal year for Empress, with our two key development projects, Manica and Tahuehueto, becoming producers, and Sierra Antapite continuing to expand production capacity,” CEO Alexandra Woodyer Sherron said in a statement. “These producing assets are building the foundation for a well-established, revenue-generating royalty and streaming company, forecasting significant cash-flow and growth in the next five years, and beyond.”
First, there’s the Sierra Antapite mine located in Peru and owned by Sierra Sun Group, which has delivered over 1,000 ounces in gold credits to Empress since the gold stream closed in July 2021.
Meanwhile, progress is ongoing at the Tahuehueto mine, owned by Luca Mining Corp (formerly Altaley Mining). Pre-production was announced in May 2022 and the first revenue from silver to Empress occurred in July.
Elsewhere, the Manica gold mine saw its first gold pour in the third quarter of 2022, and Empress received its first revenue in that same quarter.
"Empress is looking forward to further advancements in 2023, and I am pleased to offer our investors an update on our pipeline advancements, which include exclusivity on one potential opportunity and advancing two other prospective investments,” Sherron said.
“Over the past two years, we have proven our expertise in providing financing solutions for mining companies, and we will continue to deploy our capital into viable precious metal projects that will further grow our portfolio, cash flow and shareholder value."
Empress is in advanced discussions on three potential investments in its pipeline, the company said, with executed exclusivity agreements on one of those investments.
The full shareholder update can be read here.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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