AngloGold Ashanti increases stake in Thesis Gold to 9.7%

AngloGold Ashanti is increasing its strategic stake in Thesis Gold & Silver Inc. to approximately 9.7% through a C$58.5 million ($59.34 million) investment. This follows an initial 5% stake acquired in February.

The investment consists of a hard dollar offering of common shares and flow-through shares. Specifically, AngloGold will purchase 8.34 million common shares at C$3.41 each, alongside C$30 million in flow-through shares categorized under British Columbia and national Canadian exploration. Thesis intends to use the flow-through proceeds to fund eligible exploration expenses at the Lawyers-Ranch gold-silver project located in British Columbia’s Toodoggone mining district.

Additionally, Centerra Gold Inc., another strategic investor, exercised participation rights to maintain a 9.9% ownership interest by investing $5.7 million. The companies will enter an amended investor rights agreement to provide AngloGold with customary rights. The transaction is subject to TSX Venture Exchange approval and is anticipated to close around August 27, 2026.