Thesis Gold & Silver Inc. has completed a private placement financing totaling C$44 million, attracting investment from two established precious metals producers. AngloGold Ashanti, one of the world's largest gold miners, acquired 13.9 million shares representing a 5% stake for C$38.7 million, while Centerra Gold exercised its participation rights to purchase 2.1 million shares for C$5.7 million, bringing its ownership to 9.9%. Both investors participated at a price of C$2.79 per share.
The capital infusion underscores industry confidence in Thesis Gold's development pipeline. The company plans to allocate the proceeds toward working capital requirements and advancing technical studies for the Lawyers-Ranch gold-silver project, a property located in British Columbia. The project represents a significant exploration and development opportunity in a jurisdiction known for established mining infrastructure and regulatory clarity.
The participation of major producers in the financing demonstrates strategic interest in the company's assets and technical approach. AngloGold Ashanti's investment represents a notable endorsement, while Centerra Gold's exercise of existing participation rights reflects the company's commitment to maintaining its position in the venture. The transaction enhances Thesis Gold's financial position as it progresses evaluation work on the Lawyers-Ranch property.