AngloGold invests $28M in Thesis for 5% stake

In a strategic move that signals growing confidence in Canadian gold exploration, AngloGold Ashanti has invested $28.2 million to acquire a 5% stake in Thesis Gold, validating the promising potential of the Lawyers-Ranch project in British Columbia's mineral-rich Toodoggone district.

The investment comes as part of a significant transaction where AngloGold will purchase approximately 13.86 million shares of Thesis Gold at C$2.79 per share. Thesis CEO Ewan Webster framed the deal as a strong validation of the project's quality and scale, highlighting the potential for future collaborative development.

This strategic investment underscores the increasing interest in emerging gold exploration opportunities within Canada's mineral-rich regions. The Lawyers-Ranch project, located in northern British Columbia, has drawn comparisons to the prolific Golden Triangle, suggesting significant untapped potential for precious metals discovery.

The transaction also includes provisions for AngloGold to maintain its 5% ownership through participation in future financings, indicating a long-term commitment to the project's development. Concurrently, Centerra Gold, which already holds a 9.9% stake in Thesis, has also signaled its intention to exercise additional investment rights.

For precious metals investors, this development represents an important signal of confidence in Canadian mining exploration. The investment by a major global mining company like AngloGold suggests that junior exploration firms with high-quality projects are attracting serious attention from industry leaders seeking strategic growth opportunities.