Lawyers-Ranch project in northern BC. Credit: Thesis Gold
Centerra Gold (TSX: CG) has bought a 9.9% stake in Thesis Gold (TSXV: TAU), citing the potential growth and synergy of the latter’s flagship project located next to its Kemess gold-copper project in north-central British Columbia.
In a press release Tuesday, the Canadian gold miner said it will purchase approximately 23.5 million common shares of Thesis at C$1.03 a share for C$24.2 million. The issue price represents a 10% premium to the five-day volume-weighted average price of Thesis’ shares on the TSX Venture Exchange.
Thesis Gold traded at C$0.95 by noon ET, down 1.0% for the day, with a market capitalization of C$202.2 million. Earlier in the session, it had risen to a 52-week high of C$1.04.
“Centerra’s interest is a strong endorsement of the extraordinary potential of the Lawyers-Ranch project and the work our team has…
