Empress Royalty's Surging Revenue and Strategic Momentum in 2025

In the ever-evolving landscape of the royalty and streaming sector, Empress Royalty has emerged as a standout performer in 2025, driven by a combination of robust financial results, strategic geographic diversification, and a disciplined capital allocation model. As the global demand for gold and silver continues to surge amid macroeconomic uncertainty, Empress's ability to capitalize on favorable market conditions while expanding its portfolio positions it as a high-conviction buy for investors seeking exposure to precious metals.

Financial Performance: A Record-Breaking Year

Empress Royalty's third-quarter 2025 results underscore its accelerating momentum. The company reported revenue of US$4.2 million and net income of US$1.4 million, reflecting a continuation of its year-over-year growth trajectory. For the nine months ended September 30, 2025, total royalty and streaming revenue reached US$10.8 million, with net income of US$3.0 million-nearly double the figures from the same period in 2024. This performance is a testament to the company's ability to leverage its existing portfolio, which spans producing assets in Mexico, Peru, Mozambique, and South Africa, while benefiting from elevated gold and silver prices.

Looking ahead, Empress has set ambitious revenue targets. With a current portfolio generating US$15–16 million in projected 2025 revenue up from US$8 million in 2024, the company is on track to achieve cash flow positivity and expand its margins. CEO Alexandra Woodyer Sherron has emphasized the importance of disciplined capital allocation, a strategy that has enabled Empress to avoid overleveraging while maintaining a focus on long-term value creation.

Strategic Initiatives: Expanding the Precious Metals Footprint

Empress's strategic playbook in 2025 centers on geographic and asset diversification. The company has already secured producing royalties and streams in four countries, but its most compelling move is its pursuit of a new gold and silver stream investment in the United States. This initiative, currently in advanced discussions, would not only diversify Empress's geographic exposure but also align with the sector's broader shift toward North American projects, which are perceived as lower-risk and more politically stable.

The company's non-dilutive capital model further strengthens its competitive edge. By structuring tailored, asset-backed investments in mining companies, Empress gains direct exposure to gold and silver production without assuming operational risks. This approach contrasts with traditional mining stocks, which face volatility tied to exploration costs and production delays. For example, Empress's recent binding term sheet for a US$3 million gold and silver royalty on the Milford Copper Mine highlights its ability to secure high-margin assets while contributing to global copper demand.

Competitive Positioning: Outpacing Peers in the Royalty Sector

While competitors like Star Royalties and Gold Royalty have also posted strong results in 2025, Empress's direct mining investments and geographic diversification give it a unique advantage. Star Royalties, for instance, relies heavily on streaming agreements such as its gold stream on the Copperstone Project, which is still in the permitting phase and unlikely to generate revenue until late 2026. Gold Royalty, meanwhile, has focused on cash-flowing royalties like those from the Côté and Vareš projects but has not pursued the same level of geographic expansion as Empress.

Empress's revenue growth also outpaces its peers. While Gold Royalty reported a 100% increase in Q2 2025 revenue to US$4.4 million, its full-year 2025 guidance remains below Empress's projected US$15–16 million range. Similarly, Star Royalties' Q3 2025 revenue of US$40,104 was hampered by an intentional slowdown at the Keysbrook Mine, highlighting the risks of relying on a single asset. Empress's diversified portfolio, by contrast, insulates it from operational bottlenecks and positions it to capitalize on multiple growth drivers.

The Bigger Picture: A Sector Poised for Growth

The royalty and streaming sector as a whole is benefiting from macroeconomic tailwinds. Gold and silver prices have surged in 2025 due to inflationary pressures and central bank purchases, while the transition to green energy has increased demand for copper-a metal in which Empress is indirectly positioned through its Milford project. Additionally, the sector's low-risk profile has attracted institutional investors seeking alternatives to volatile mining equities.

Empress's strategic alignment with these trends is evident. Its focus on gold and silver-metals with both industrial and investment demand-ensures resilience across economic cycles. Meanwhile, its non-dilutive capital model allows it to scale rapidly without diluting shareholder value, a critical differentiator in a sector where leverage can erode returns.

Conclusion: A High-Conviction Buy

Empress Royalty's 2025 performance demonstrates its ability to execute on a clear, data-driven strategy. With revenue growth outpacing peers, a diversified portfolio spanning four continents, and a pipeline of high-margin investments, the company is well-positioned to deliver outsized returns. For investors seeking exposure to the royalty and streaming sector, Empress offers a compelling combination of growth, stability, and strategic foresight. As the global economy continues to grapple with uncertainty, Empress Royalty's disciplined approach and focus on precious metals make it a high-conviction buy.