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#EmpressRoyalty (TSXV:EMPR) recently increased its royalty on the Manica #gold project in Mozambique by adding US$1 million funding after securing a US$15M accordion credit facility from Nebari Natural Resources Credit Fund. Empress Royalty CEO Alexandra Woodyer Sherron says this will allow them to fund more projects and increase revenue.
“We recently announced that we completed a US$15 million accordion facility with Nebari. We’ve deployed four and a half million US dollars so farro complete Sierra Antapite mine in Peru. We’ve also deployed and increased our investment in our project in Mozambique, by another million dollars. So we continue to build the portfolio out,” said Woodyer Sherron.
Empress has fully funded the US$10M gold stream agreement by making the final payment of US$2.5M of the gold stream agreement on the Sierra Antapite mine in Peru. The Stream is registered and secured against the mine, plant and concessions. Sierra Sun will use Empress’ investment to increase its processing capacity from 750 to 1,000 tonnes-per-day.
“We created this $10 million silver stream, and we paid it in several different tranches. And then using the debt facility from Nebari, we completed the final portion of this investment. We’re excited to see them get into full production capacity in the upcoming months,”
“The other investment we did is we increased the one in Mozambique. That originally was a US$2 million investment. We’ve increased it by another million. So we have a 3.375 royalty across that entire gold project with a three year mine life plan. There are two great investments using the debt facility we had from Nebari to expand and increase the portfolio,” Woodyer Sherron explained.
The company is working with mining companies who are looking for additional financing to complete construction or get into production, or to expand upon their production capacity. Woodyer Sherron said they are structuring and doing the deals by being on the site, going to the mines, and protecting and de risking the investment.
“We do have the ability to continue to build our portfolio with smart investments and de risking them, and then able to get some great returns.”
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The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
