- AngloGold Ashanti (NYSE:AU), one of the largest gold producers in the world, will increase its investment in Thesis Gold & Silver (TSXV:TAU), a pre-feasibility-stage developer in British Columbia, through a C$58.4 million offering.
- Thesis’ flagship Lawyers-Ranch gold and silver project in BC hosts a gold-equivalent resource estimated at 4.6 million ounces measured and indicated and 643,000 ounces inferred.
- Thesis Gold & Silver stock has added 249.04 per cent year-over-year and 166.91 per cent since 2021.
AngloGold Ashanti (NYSE:AU), one of the largest gold producers in the world, will increase its investment in Thesis Gold & Silver (TSXV:TAU), a pre-feasibility-stage developer in British Columbia, through a C$58.4 million offering of both hard-dollar shares and flow-through shares.
Thesis will issue 8,342,257 common shares priced at C$3.4118 for gross proceeds of C$28,462,112, in addition to 6,302,857 flow-through shares priced at C$4.95 and C$4.67 under BC and the Federal Government’s flow-through programs, respectively, for proceeds of C$20 million.
This article is a journalistic opinion piece which has been written based on independent research. It is intended to inform investors and should not be taken as a recommendation or financial advice.
The investment will increase AngloGold’s stake from an initial 5 per cent to 9.7 per cent, almost doubling its exposure to Thesis’ flagship Lawyers-Ranch gold and silver project in BC’s Toodoggone mining district, whose gold-equivalent resource is estimated at 4.6 million ounces measured and indicated (including 97.9 million ounces of silver) and 643,000 ounces inferred, making it one of Canada’s largest undeveloped mineral resources. Several targets on the project remain to be explored.
The capital infusion will be allocated to working capital, general corporate purposes, ongoing technical studies at Lawyers-Ranch, as well as mining expenditures permitted under the given flow-through statutes.
According to Monday’s news release, the offering is slated to close by August 27, 2026.
Leadership commentary
“We are very pleased that AngloGold Ashanti has elected to significantly increase its investment in Thesis. We believe their decision to increase their position represents a strong endorsement of the quality and scale of Lawyers-Ranch and the progress our team continues to make advancing the project. Having AngloGold Ashanti as a global gold producer as significant strategic shareholder, provides further validation of Lawyers-Ranch and positions Thesis exceptionally well as we advance through feasibility, permitting and continued exploration,” Ewan Webster, President and Chief Executive Officer of Thesis Gold & Silver, said in a statement.
About Thesis Gold & Silver
Thesis Gold & Silver is a Canadian precious metals exploration and development company advancing its Lawyers-Ranch gold and silver project, a multi-million-ounce asset located in British Columbia’s Toodoggone mining district, one of North America’s top new precious metals districts.
The gold and silver stock (TSXV:TAU) last traded at C$3.63, adding 249.04 per cent year-over-year and 166.91 per cent since 2021.
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