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Alexandra Woodyer Sherron, CEO of Empress Royalty Corp | Rule Symposium 2026: Rick Rule interviews

Rule Investment Media Jun 4, 2026

Summary

Royalty and streaming finance (upfront cash for a share of future output) gives metal-price exposure without the operational challenges of running mines.

Empress Royalty targets smaller deals large streamers ignore, drawing technical capacity from its Endeavor Financial partnership to keep overheads low.

Four producing assets in Peru, Mexico, Mozambique and South Africa delivered $17 million revenue in 2025 and $9 million in Q1 2026.

The CEO argues Empress is undervalued: just under C$100 million market cap versus roughly US$100 million net asset value at $4,000 gold.

Growth stays self-funded: $19 million held in gold, silver and cash plus a $20 million debt facility, with three deals in deep due diligence.

Key points on Empress Royalty Corp

  • The CEO argues Empress is significantly undervalued: she puts net asset value at about US$100 million using conservative $4,000 gold and $70 silver prices, versus a market cap just under C$100 million as of the June 2026 interview.
  • Revenue is ramping: $17 million in 2025 and $9 million in Q1 2026 alone, with the company on track for its 2026 guidance, per the CEO.
  • The portfolio holds four producing assets (Peru, Mexico, Mozambique, South Africa), one development and ten exploration assets; about $23 million invested in the producing assets has generated roughly $40 million cumulatively, per the CEO.
  • Growth is currently self-funded: the CEO cites about US$19 million in gold, silver and cash plus an up-to-$20 million debt facility, so new royalty deals can be added without diluting shareholders.
  • The CEO expects the company to reach meaningful scale within 12 months, with wider deal sourcing (China, Toronto, Latin America) and deep technical due diligence under way on three opportunities.

Rick Rule's takeaways

  • Top takeaway Rule says he is a personal friend of the CEO and an investor in Empress, and calls royalty and streaming the best part of the capital stack for investors.
  • Much of his airtime promotes the July 6-10, 2026 Rule Symposium in Boca Raton: only companies the sponsors own shares in can exhibit, all sessions are recorded, and attendance carries a money-back guarantee.

Alexandra Woodyer Sherron's takeaways

  • Top takeaway Her core thesis is that royalty and streaming is one of the smartest ways to invest in mining: exposure to discoveries, mine development and production growth, plus higher metal prices, without the operational risk of running mines.
  • She argues the companies with the best assets do not always win; management quality, access to capital and consistently better decisions over time are what separate winners.
  • She is more bullish than the $4,000 gold and $70 silver assumptions behind Empress's NAV math and believes the stock is significantly undervalued as of the June 2026 interview.
  • She expects the company's transformation to begin within the next 12 months, saying a few more deals will move the needle, with deep due diligence under way on three opportunities.
  • She co-founded Empress in late 2020 with Endeavor Financial's David Rhodes to bring streaming finance to the junior end of the market that larger streamers ignored, using that relationship to keep G&A low.