Empress Royalty Corp. Empress Provides Update on Investment Portfolio
November 15 2021 - 6:00AM
RNS Non-Regulatory
TIDMEMPR
Empress Royalty Corp.
15 November 2021
NEWS RELEASE | NOVEMBER 15, 2021 | VANCOUVER, BC
EMPRESS ROYALTY PROVIDES UPDATE ON INVESTMENT PORTFOLIO
Empress Royalty Corp. (TSXV:EMPR | OTCQB:EMPYF) ("Empress
Royalty" or the "Company") is pleased to provide an update on its
investment portfolio and mining company partners.
"The exciting progress being made at each of our investments
demonstrates Empress Royalty's ability to invest in high quality
projects with strong management teams creating long term value for
both our shareholders and the shareholders of our mining company
partners," stated Alexandra Woodyer Sherron, CEO and President of
Empress Royalty. "These project updates are the catalysts for
Empress Royalty to achieve significant shareholder value and
revenue in 2022."
TAHUEHUETO SILVER STREAM - Construction On Time & On
Budget
Altaley Mining Corp. ("Altaley") continues to advance Tahuehueto
toward production and recently announced that construction is on
time and on budget (see Altaley press release November 2, 2021).
Altaley has also recently announced that it has engaged MGA as an
underground mining contractor. MGA is a well known underground
mining contractor with extensive experience in Mexico. Prior
underground development at Tahuehueto provides about 75% of the
initial two years of to-be-mined material or "stoped-out
inventory", with the contractor completing underground development
for 100% of the stoped-out inventory. This materially de-risks
ramp-up risks and accelerates initial and eventual steady-state
production, resulting in silver by-product production, that will be
subject to the Empress Royalty silver stream. Initial production
from Tahuehueto is noted to be near the end of 2021 with ramp-up
continuing into the first quarter of 2022. As noted by Altaley,
contractors and construction have been working at site since July
2021 and multiple site visits have been completed by Empress
Royalty in 2020 and 2021. Please see Altaleys's website
(www.altaleymining.com) for further details.
SIERRA ANTAPITE GOLD STREAM - Production Expansion in
Progress
Sierra Sun Group ("Sierra Sun") reports that it is conducting
on-going expansion of operations at the Sierra Antapite gold mine.
Proceeds from the Empress Royalty stream have been used to continue
expansion of the plant from 750 tonnes per day to 1,000 tonnes per
day, to expand and enhance the tailings storage facility, to retire
payments and to further develop the underground mine. A site visit
by a third-party engineering firm was completed in March 2021 and
Empress Royalty visited the site in September 2021. Empress Royalty
receives weekly updates from Sierra Sun on the production expansion
progress. Sierra Sun continues to deliver gold to Empress Royalty
since commencement in August 2021. Please see Sierra Sun Group's
website (www.sierrasungroup.com) for further details.
MANICA GOLD ROYALTY - Construction Underway
Since closing the Manica royalty at the end of April 2021,
Mutupa Mining Processing ("MMP") has completed engineering and
procurement and reports construction is well progressed.
Specifically, the bulk of the earthworks is complete, concrete has
been poured for the plant, the CIL tanks have been fabricated and
the tailings dam construction is complete. Several items of the
modular plant equipment have been fabricated and transported from
South Africa to site and are currently undergoing installation.
Further, the processing plant water storage tank and power is
connected and available via a 40 mVA transformer. The mining
contractor has been mobilized and preparations are underway for
commencement of mining. MMP reports it expects to commence initial
production in the first quarter of 2022. Empress has completed two
site visits in 2021 through a third party engineering firm, and
receive weekly updates from management on construction
progress.
PINOS GOLD & SILVER ROYALTY - Private Placement Closed
Candelaria Mining Corp. ("Candelaria") announced that it has
closed their upsized private placement for a total C$8,441,770
which resulted in Agnico Eagle increasing their ownership in
Candelaria from a 9.9% equity stake to a 19.9% on a pre-diluted
basis (see Candelaria's press releases October 29, 2021). Proceeds
from the upsized private placement will be used for Caballo Blanco
exploration, on-going development of the Pinos project and for
working capital. Candelaria continues to advance the Pinos project
and is currently in discussions with potential debt financiers.
Empress Royalty completed site visits in 2020 and 2021 and
continues to be provided updates by Candelaria. Please see
Candelaria's website (www.candelariamining.com) for further
details.
ABOUT EMPRESS ROYALTY CORP.
Empress Royalty is a new royalty and streaming creation company
focused on providing investors with a diversified portfolio of gold
and silver investments. Since publicly listing in December 2020,
Empress Royalty has built a portfolio of 17 precious metal
investments and is actively investing in mining companies with
development and production stage projects who require additional
non-dilutive capital. The Company has strategic partnerships with
Endeavour Financial and Terra Capital which allow Empress Royalty
to not only access global investment opportunities but also bring
unique mining finance expertise, deal structuring and access to
capital markets. Empress Royalty is looking forward to continuously
creating value for its shareholders through the proven royalty and
streaming models.
ON BEHALF OF EMPRESS ROYALTY CORP.
Per: Alexandra Woodyer Sherron, CEO and President
For further information, please visit our website at
www.empressroyalty.com or contact Kaitlin Taylor, Investor
Communications, by email at info@empressroyalty.com or by phone at
+1.604.331.2080.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This news release contains statements about Empress'
expectations regarding the Alliance Agreement which are
forward-looking in nature and, as a result, are subject to certain
risks and uncertainties. Generally, forward-looking statements can
be identified by the use of forward-looking terminology such as
"expects", "believes", "anticipates", "aims to", "plans to" or
"intends to" or variations of such words and phrases or statements
that certain actions, events or results "will" occur. Although
Empress believes that the expectations reflected in these
forward-looking statements are reasonable, undue reliance should
not be placed on them as actual results may differ materially from
the forward-looking statements. Factors that could cause the actual
results to differ materially from those in forward-looking
statements include Empress Royalty not being successful in or
deciding not to pursue opportunities in the royalties business. The
forward-looking statements contained in this news release are made
as of the date hereof, and Empress undertakes no obligation to
update publicly or revise any forward-looking statements or
information, except as required by law. Readers should not place
undue reliance on forward-looking statements or information.
This information is provided by Reach, the non-regulatory press
release distribution service of RNS, part of the London Stock
Exchange. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
Reach is a non-regulatory news service. By using this service an
issuer is confirming that the information contained within this
announcement is of a non-regulatory nature. Reach announcements are
identified with an orange label and the word "Reach" in the source
column of the News Explorer pages of London Stock Exchange's
website so that they are distinguished from the RNS UK regulatory
service. Other vendors subscribing for Reach press releases may use
a different method to distinguish Reach announcements from UK
regulatory news.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
NRAMZMMMGZFGMZZ
(END) Dow Jones Newswires
November 15, 2021 07:00 ET (12:00 GMT)
Empress Royalty (TSXV:EMPR)
Historical Stock Chart
From Mar 2024 to Apr 2024
Empress Royalty (TSXV:EMPR)
Historical Stock Chart
From Apr 2023 to Apr 2024