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AngloGold Ashanti to invest $42M to raise stake in Thesis Gold
The $42 million includes C$30 million of flow-through shares, and the investment is set to close around Aug. 27 pending TSX Venture Exchange approval.
AngloGold Ashanti is investing $42 million to increase its ownership in Thesis Gold & Silver as the Vancouver-based developer advances its Lawyers-Ranch precious metals project in British Columbia, Mining.com reports. The deal has AngloGold buying 8.34 million common shares for C$28.5 million and subscribing for C$30 million of flow-through shares.
The investment will raise AngloGold’s stake in Thesis to 9.7% from about 5%, after an initial C$38.7 million investment made in February. The transaction is expected to close around Aug. 27, subject to TSX Venture Exchange approval.
Thesis said the funds are intended to support multiple parts of the project as it prepares a feasibility study for Lawyers-Ranch due next year, alongside ongoing exploration and permitting work. The company began the environmental assessment process in late 2025 and expects a decision from provincial authorities in 2029.
Lawyers-Ranch is Thesis’ only project, about 930 km north of Vancouver, and covers 495 sq. km in the Toodoggone mining district. The site includes the Lawyers and Ranch areas with multiple gold-silver deposits, and a 2025 prefeasibility study laid out a staged open-pit and underground operation with a 15-year mine life, Mining.com adds.
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