How Empress Royalty Is Finding Opportunity In Today's Market | David Rhodes

Gold is above $4,000 and silver in the $60s, yet Empress Royalty Executive Chairman David Rhodes says the recent pullback is exactly when disciplined royalty buyers should be shopping.

Rhodes joins Kitco Mining's Kitco Spotlight with Jeremy Szafron at the Rule Symposium 2026 in Boca Raton to explain the small-stream niche Empress built its business on: $20 to $30 million financings on near-term producing assets that the major royalty players are too big to chase.

He discusses why Empress deliberately stayed on the sidelines for roughly 18 months as prices ran up, how the correction has reset seller valuations back to more realistic levels, and why he underwrites deals on long-term metal prices rather than spot. Rhodes also covers Empress's path from startup to a cash-flow-positive balance sheet, its preference for holding physical gold and silver, its appetite for higher-risk jurisdictions, and a new AI platform that surfaces overlooked royalties competitors never see.

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To learn more about Empress Royalty, visit: https://www.empressroyalty.com/

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Disclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this podcast do not accept culpability for losses and/ or damages arising from the use of this publication.