Empress Royalty (TSX-V: EMPR)(OTC: EMPYF) CEO Alexandra Woodyer Sherron on Q3 Record Revenue & 2026 Strategy

 

Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is one of the sharpest and best connected minds in the entire resource space. The CEO of Empress Royalty (TSX-V: EMPR)(OTC: EMPYF), Alexandra Woodyer Sherron, Alex, it is so great to have you back on. How are you today?

Alexandra Woodyer Sherron: I'm doing great. It's great to talk to you. I think we haven't chatted since Beaver Creek, so lovely to catch up.

Gerardo Del Real: Well, it's funny that you mention it. It's always a pleasure to catch up. You touched on Beaver Creek. The last time we chatted, I was congratulating you on record revenue for your second quarter results.

And here we are in Q3. And you just once again reported record revenue for 2025 Q3. Gold is at $4,200. Silver's at $58. Everyone that I talk to that's been in this space longer than I have, and you've been in this space since your teens, says this is the mother of all junior resource bull markets, and you're knocking it out the park at the exact perfect time. So congratulations. Can we talk about Empress and just the approach and the record revenue, which again, couldn't come at a better time, right?

Alexandra Woodyer Sherron: No, thank you so much. Yeah, since we've seen you, we've doubled our revenue yet again, and we really are, the financial results we put out really representative and meaningful step forward for Empress. We're now at stage where the financials are demonstrating our strategy works. We've got steady contributions across the portfolio. We're expanding our margins, and we've had a meaningful shift into sustained profitability. It's really a turning point for us.

And with these nine months ended with the revenue nearly doubling, it's been significant achievement. It really shows in the dimension of the portfolio. So we're pretty excited about being able to get these financial results out.

Gerardo Del Real: It's got to feel exhilarating. You've been in the business, as I mentioned, since your early teens, but for you to work as hard as you and the team did behind the scenes during a bear market to put together the portfolio that Empress now boasts, it's got to be exhilarating and satisfying to see it perform the way it's performing at this point in time. How do you prepare now in a bull market to continue to grow that portfolio? Because obviously it's, look, you've made brand new all time highs here recently. The market clearly recognizes, and is rewarding the strategy that's been employed over the last several years, but what does that look like moving forward here in this bull market?

Alexandra Woodyer Sherron: Yeah. I mean, our producing assets are continuing to ramp up, which really gives us the stable and growing revenue base. We're entering a phase where the reoccurring cash flow supports new opportunities and allow us to grow without heavy reliance on external financing.

And when we look at the deal flow and how we're planning to deploy this capital, we're continuing to target investment sizes between sort of five and $25 million with proven operators and clear catalysts, which will evolve... And we're also evaluating some larger opportunities that could accelerate our growth.

Our focus remains firmly on gold and silver, really taking advantage of these commodity prices, and that's been by design from the very beginning. We're focusing on regions where we've had the longstanding technical, financial, and operating experience, and we're really prioritizing streams and secure royalty structures that offer that strong balance of stability with upside potential.

Every dollar we deploy is intended to generate near term cash flow and strategically scale the model, ensuring that disciplined accretive growth happens at Empress.

Gerardo Del Real: When you consider potentially larger deals, and I mentioned this because there's been a lot of M&A in the space, right? What is it specifically that you need to see for you to consider a bigger structured deal than you have traditionally?

Alexandra Woodyer Sherron: Cash flow. The catalyst to get them into revenue, how de-risked the project has become through the various catalysts that's happened at the company. And having a very clear plan. When we look at opportunities, it always starts with, “Okay, you've got a plan, show us the plan. What does the cashflow model look like to support this plan?” And then we assess the reasonableness of that and determine whether it makes sense to move forward with it.

But with having cash, gold, and silver now on hand, and having the understanding the assets we currently have and how they'll be ramping up in 2026, it allows us to make some sort of bigger moves and really try to get that significant growth in coming into the company.

Gerardo Del Real: I mentioned M&A. I got to believe that you're probably fielding phone calls or fielding off phone calls from majors that may be potentially interested in that cashflow positive revenue that you've been able to bring in. Would that be an accurate statement?

Alexandra Woodyer Sherron: The whole royalty and streaming space has really evolved in the last couple of months since the entrance of groups like Tether that have come into the space and we've seen that with a successful merger of Elemental and EMX and the investment there. We're seeing further investment going to other companies buying in the market from groups like that. We're seeing other similar groups enter the space or starting to enter the space.

We're seeing consolidation generally across, and as you mentioned, larger groups buying smaller companies. For us right now, what's really opened up is a lot of the junior royalty companies have been acquired or facing other turns. So it's allowing us to be one of the few people, the companies left there.

A few others have come out recently, but there's a lot more opportunity as for the larger companies now to do transactions. They really need to do bigger things to move the needle where we can still be very nimble and take advantage of the opportunities and our whole strategy of that niche that we identified early on.

Gerardo Del Real: Listen, I think it's going to be an exciting 2026. Obviously 2025 was Empress reaching that inflection point. Excited to get into it. I hope you have yourself a great Christmas, a great holiday, and looking forward to catching up here for the new year in 2026. Anything to add to that, Alex?

Alexandra Woodyer Sherron: Yeah. We did 11 million in revenue for the first nine months of the year, seven and a half million in gross profit, that gave us $5 million in operating cash flow. Net income increased $2 million from just half a million previous year. So it shows that we're now profitable, cash flow positive. We're accelerating growth in the current market environments, discipline, speed, and vision really create competitive advantage. And we've got all three.

We're reaching that turning point that really opens the door to much larger growth and we believe the most compelling value creation for our shareholders is still ahead of us. So yeah, it's going to be a very exciting 2026 for Empress, and look forward to talking to you more about some of the opportunities we're looking at as they advance.

Gerardo Del Real: Great work as always, thank you so much for your time.

Alexandra Woodyer Sherron: Thank you so much. I really appreciate your time. Have a great holiday season.

Gerardo Del Real: Thank you so much. Chat soon.

Alexandra Woodyer Sherron: Cheers.

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