Gold thesis company (Tao(TSXV) announced on Friday that it has received confirmation from the Government of Canada that the Impact Assessment (IA) process for the Lawyers-Ranch 100% owned gold project will be replaced by the Province of British Columbia.
“As a result, the British Columbia Environmental Assessment Office will conduct an IA for Lawyers-Ranch under the Environmental Assessment Act, SBC 2018, C.51 ib on behalf of the Canadian Impact Assessment Agency.
Thesis leader and CEO Dr. Euan Webster said: “This is an important milestone for the Lawyers-Ranch project and an important step towards a more efficient and coordinated path. The alternative process provides greater certainty and clarity as we move forward with the project while maintaining the high environmental, social and advisory standards that all parties have come to expect.” “We believe Lawyers-Ranch has the potential to become an important exporter of precious metals to Canada, generating meaningful benefits for First Nations, local communities, British Columbia and the country as a whole.”
The alternative IA process under Canada’s IAA is expected to streamline the permitting process for Lawyers-Ranch by allowing the Province of British Columbia to lead a single consolidated environmental review rather than parallel federal and provincial assessments, provided federal requirements are met. The “one project, one review” approach is expected to reduce duplication, shorten timelines, and reduce administrative burden, while maintaining strong consideration of environmental, social, and local impacts.
By aligning regional IA with federal permitting requirements and supporting federal engagement and consultation with Indigenous people, the thesis predicts improved coordination, increased regulatory clarity, and reduced uncertainty.
The thesis expects an EA decision by early 2029.
Shares advanced on the news, rising 2.14%, or $0.06, to $2.86, trading in a 52-week range of $3.98 and 90 cents.
In December 2025, the company launched the environmental assessment and permitting process for the Lawyers-Ranch project at both the provincial and federal levels. The project is located in the Toodoggone mining region of British Columbia.
This step came after THESIS announced positive results from the project’s pre-feasibility study. The study envisions strong annual gold equivalent (AuEq) production rates for the first three years averaging 266,000 ounces, and 187,000 ounces over the mine’s 15-year life. Initial capital expenditure is $736.2 million. The overall cost is estimated at US$1,185 per AuEq. Total mine production life is expected to reach 2.84 million AuEq.
The initial project description (IPD) outlines the company’s plans to develop and operate the project, which is located 450 kilometers north of Prince George and 275 kilometers north of Smithers. The project partly overlaps the traditional territories of the Kwadsha Nation, the Tsai Kei Dene Nation, the Takla Nation, and the Tahltan Nation.
