Empress Royalty (TSX-V:EMPR) has acquired a portfolio of 14 early-stage North American royalties from Almadex Minerals (TSX-V:DEX) for US$2.5 million ($3.6 million).
The portfolio comprises pre-production net smelter return (NSR) royalties across projects in Canada, the US, and Mexico.
Among the Canadian assets are 2% NSR royalties over Westhaven Gold’s (TSX-V:WHN) Prospect Valley and Skoonka Creek projects, along with a 2% NSR royalty over part of Kodiak Copper’s (TSX-V:KDK) MPD Copper-Gold Project in British Columbia.
The Mexican assets includes a 2% NSR over the Los Venados project within Alamos Gold’s (TSX:AGI) Mulatos district in Sonora, as well as a 2% NSR royalty on McEwen’s (TSX:MUX) El Encuentro project in Sinaloa.
The US portfolio consists of a 2% NSR on Abacus Mining & Exploration’s (TSX-V:AME) Willow Copper-Gold Project in Nevada.
“By acquiring these royalties at an early stage, we are expanding Empress’ pipeline of future royalty opportunities while maintaining our disciplined approach to capital allocation,” CEO Alexandra Woodyer Sherron says.
“This portfolio gives Empress exposure to 14 royalties across North America. We see potential upside across a number of these projects and believe this acquisition meaningfully expands our pipeline of future royalty interests.”
The consideration comprises US$1 million in cash and US$1.5 million worth of Empress common shares.
Empress Royalty is a global royalty and streaming creation company providing investors with a diversified portfolio of gold and silver investments.
Write to Jackson Chen at Mining.com.au
Image: Almadex Minerals
