Empress Royalty has signed a stream purchase agreement (SPA) for an interest in production from the Tongon Gold Mine in Côte d'Ivoire for an upfront cash payment of $62m (C$86.78m).
The agreement, made through its wholly owned subsidiary Empress Holdings, was reached with Appian Tongon Streamco.
In connection with the acquisition, Empress Holdings has also entered into a $75m senior secured credit facility with Appian Empire Loanco, providing an initial $55m draw at closing to partially fund the purchase, with a further $20m committed for future royalty and stream transactions.
According to the terms of the stream agreement, Empress Holdings will receive 3.58% of Tongon's payable gold output until 400,000 ****** ulative ounces have been delivered from 31 January 2026.
This percentage will then decrease to 2.93% until 600,000oz are delivered, and subsequently to 0.81% of gold production for the remainder of the stream's term, which is approximately 29 years from the acquisition date.
#Gold #production
The agreement, made through its wholly owned subsidiary Empress Holdings, was reached with Appian Tongon Streamco.
In connection with the acquisition, Empress Holdings has also entered into a $75m senior secured credit facility with Appian Empire Loanco, providing an initial $55m draw at closing to partially fund the purchase, with a further $20m committed for future royalty and stream transactions.
According to the terms of the stream agreement, Empress Holdings will receive 3.58% of Tongon's payable gold output until 400,000 ****** ulative ounces have been delivered from 31 January 2026.
This percentage will then decrease to 2.93% until 600,000oz are delivered, and subsequently to 0.81% of gold production for the remainder of the stream's term, which is approximately 29 years from the acquisition date.
#Gold #production
2 months ago
