THESIS GOLD INC. (THSGF)
Thesis Gold & Silver Inc., a resource development company, engages in the identification, evaluation, acquisition, and exploration of mineral properties in Canada. The company explores for gold, silver, and precious metals deposits. It holds 100% interest in the Lawyers-Ranch project covering 495 square kilometers in the Toodoggone mining district of northern central British Columbia. The company was formerly known as Thesis Gold Inc. and changed its name to Thesis Gold & Silver Inc. in February 2026. Thesis Gold & Silver Inc. was incorporated in 2010 and is based in Vancouver, Canada.
Industry: Other Precious Metals
Thesis Gold & Silver Inc.
OTC:THSGFBasic Materials · Other Precious Metals
+0.75%$1.74
Mkt Cap$521.31M
Float242.26M
O/S299.26M
Inst Own-
SI0.1%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$0
Net Income-$4.21M
Total Assets$214.16M
Free Cash Flow-$4.62M
Debt & Equity
Debt 0%
Equity 100%
Total Debt$577K
Total Equity$194.83M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in THSGF's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$214.16M
Liabilities$19.33M
Accounts Receivable$1.46M
Accounts Payable$713K
Inventory$0
PP&E (Net)$157.26M
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2026-02-28 | 2025-02-28 | 2024-02-28 | 2023-02-28 | 2022-02-28 | 2021-02-28 | 2020-02-28 | 2019-02-28 | 2018-02-28 | 2017-02-28 | 2016-02-28 |
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| YoY Growth | - | - | - | - | - | - | - | - | - | - | - |
| Cost of Revenue | $152K | $0 | $0 | $0 | $10K | $0 | $0 | $0 | $0 | $0 | $0 |
| Gross Profit | -$152K | $0 | $0 | $0 | -$10K | $0 | $0 | $0 | $0 | $0 | $0 |
| Gross Margin | - | - | - | - | - | - | - | - | - | - | - |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $6.58M | $3.6M | $2.99M | $3.74M | $8.44M | $627K | $17K | $1.5M | $427K | $501K | $197K |
| Other | $84K | $0 | $0 | $370K | $3.33M | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Operating Expenses | $6.66M | $3.6M | $2.99M | $4.15M | $8.76M | $627K | $17K | $1.5M | $427K | $501K | $197K |
| Operating Income (EBIT) | -$6.82M | -$3.6M | -$2.99M | -$4.15M | -$8.76M | -$1.06M | -$24K | -$1.5M | -$427K | -$501K | -$197K |
| Operating Margin | - | - | - | - | - | - | - | - | - | - | - |
| Interest Expense | $72K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Interest Income | $813K | $272K | $819K | $384K | $107K | $167 | $0 | $0 | $0 | $0 | $0 |
| Other Income (Expense) | $5.02M | $4.26M | $4.39M | $370K | $3.33M | $433K | $7K | $4K | $40K | $44K | $26K |
| Income Before Tax (EBT) | -$1.79M | $656K | $1.4M | -$3.4M | -$5.32M | -$194K | -$10K | -$1.5M | -$387K | -$457K | -$171K |
| Income Tax Expense | $2.42M | $1.83M | $763K | $3.77M | $3.49M | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Income | -$4.21M | -$1.18M | $633K | -$3.4M | -$8.8M | -$194K | -$10K | -$1.5M | -$387K | -$457K | -$171K |
| Net Income Margin | - | - | - | - | - | - | - | - | - | - | - |
| Supplementary Data | |||||||||||
| EPS | -0.02 | -0.01 | 0.01 | -0.06 | -0.19 | -0.03 | -0.00 | -0.17 | -0.11 | -0.20 | -0.11 |
| Diluted EPS | -0.02 | -0.01 | 0.01 | -0.06 | -0.19 | -0.03 | -0.00 | -0.17 | -0.11 | -0.20 | -0.11 |
| Weighted Average OS | 247.68M | 165.04M | 136.07M | 86.33M | 65.99M | 7.93M | 29.92M | 12.33M | 4.85M | 3.18M | 2.14M |
| EBITDA | -$1.57M | -$3.6M | -$3.11M | -$4.15M | $8.67M | $1.32M | $0 | $882K | $282K | $318K | $140K |
| EBITDA Margin | - | - | - | - | - | - | - | - | - | - | - |
Balance Sheet
| Period | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2026-02-28 | 2025-02-28 | 2024-02-28 | 2023-02-28 | 2022-02-28 | 2021-02-28 | 2020-02-28 | 2019-02-28 | 2018-02-28 | 2017-02-28 | 2016-02-28 |
| Assets | |||||||||||
| Current Assets | |||||||||||
| Cash and Cash Equivalents | $54.25M | $6.69M | $5.18M | $10.1M | $9.41M | $4.1M | $254K | $269K | $36K | $55K | $32K |
| Short-Term Investments | $0 | $26K | $8K | $0 | $0 | $0 | $0 | $7K | $0 | $0 | $0 |
| Cash and Short-Term Investments | $54.25M | $6.72M | $5.19M | $10.1M | $9.41M | $4.1M | $254K | $276K | $36K | $55K | $32K |
| Accounts Receivable | $1.46M | $3.42M | $3.29M | $771K | $350K | $164K | $44K | $591K | $17K | $9K | $9K |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $95K | $29K | $24K | $3K |
| Total Current Assets | $56.05M | $10.81M | $9.45M | $11.2M | $9.92M | $4.27M | $298K | $963K | $82K | $88K | $45K |
| Long-Term Assets | |||||||||||
| Property, Plant & Equipment Net | $157.26M | $136M | $120.25M | $30.41M | $11.2M | $4.54M | $8.96M | $0 | $0 | $0 | $0 |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $394K | $0 | $0 | $0 | $0 | $0 | $0 | $40K | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $453K | $420K | $1.34M | $221K | $171K | $194K | $144K | $2.77M | $1.21M | $668K | $260K |
| Total Long-Term Assets | $158.11M | $136.42M | $121.59M | $30.63M | $11.37M | $4.54M | $9.1M | $2.81M | $1.21M | $668K | $260K |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | -$9.1M | $0 | $0 | $0 | $0 |
| Total Assets | $214.16M | $147.24M | $131.04M | $41.83M | $21.29M | $8.8M | $298K | $3.77M | $1.3M | $757K | $305K |
| Liabilities | |||||||||||
| Current Liabilities | |||||||||||
| Accounts Payable | $713K | $1.14M | $3.14M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Short-Term Debt | $138K | $0 | $0 | $66K | $60K | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $910K | $286K | $66K | $1.37M | $833K | $2.39M | $0 | $215K | $133K | $109K | $50K |
| Total Current Liabilities | $2.73M | $1.54M | $3.23M | $1.43M | $892K | $211K | $425K | $215K | $133K | $109K | $50K |
| Long-Term Liabilities | |||||||||||
| Long-Term Debt | $0 | $0 | $0 | $16K | $72K | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $14.61M | $12.2M | $10.36M | $9.6M | $5.83M | $2.35M | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $1.55M | $1.54M | $1.78M | -$9.39M | $428K | $194K | $0 | $0 | $0 | $0 | $0 |
| Total Long-Term Liabilities | $16.6M | $14.31M | $12.15M | $221K | $6.33M | $2.54M | $305K | $0 | $0 | $0 | $0 |
| Other Liabilities | $0 | $0 | $0 | $0 | -$6.33M | -$2.54M | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $19.33M | $15.85M | $15.37M | $1.65M | $892K | $211K | $729K | $215K | $133K | $109K | $50K |
| Stockholders' Equity | |||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $207.21M | $140.76M | $124.93M | $42.4M | $21.16M | $8.86M | $214K | $6.1M | $2.67M | $1.79M | $1.02M |
| Retained Earnings | -$26.52M | -$22.31M | -$21.14M | -$6.59M | -$3.2M | -$1.05M | -$854K | -$3.36M | -$1.86M | -$1.47M | -$1.01M |
| Comprehensive Income & Other | $302K | $0 | $0 | $0 | $0 | $209K | $208K | $813K | $354K | $325K | $245K |
| Other Stockholders' Equity | $14.14M | $12.94M | $11.88M | $4.37M | $2.43M | $782K | $208K | $813K | $354K | $325K | $245K |
| Total Equity | $194.83M | $131.38M | $115.67M | $40.18M | $20.4M | $8.59M | -$432K | $3.56M | $1.16M | $647K | $255K |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $214.16M | $147.24M | $131.04M | $41.83M | $21.29M | $8.8M | $298K | $3.77M | $1.3M | $757K | $305K |
| Supplementary Data | |||||||||||
| Total Debt | $577K | $693K | $21K | $82K | $131K | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Debt | -$53.67M | -$6M | -$5.16M | -$10.02M | -$9.28M | -$4.1M | -$254K | -$269K | -$36K | -$55K | -$32K |
Cash Flow Statement
| Period | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2026-02-28 | 2025-02-28 | 2024-02-28 | 2023-02-28 | 2022-02-28 | 2021-02-28 | 2020-02-28 | 2019-02-28 | 2018-02-28 | 2017-02-28 | 2016-02-28 |
| Operating Activities | |||||||||||
| Net Income | -$4.21M | -$1.18M | $633K | -$3.4M | -$2.13M | -$194K | -$10K | -$1.5M | -$387K | -$457K | -$171K |
| Depreciation & Amortization | $152K | $0 | $0 | -$3.77M | $8.67M | $1.32M | $0 | $882K | $282K | $318K | $140K |
| Deferred Income Tax | $2.42M | $1.83M | $763K | $3.77M | $3.49M | $2.35M | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $1.9M | $785K | $69K | $2.13M | $1.78M | $433K | $76K | $399K | $17K | $58K | $76K |
| Changes in Working Capital: | |||||||||||
| Accounts Receivable | -$59K | $94K | $5.04M | -$166K | -$156K | $71K | $34K | -$574K | -$8K | $455 | -$7K |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Working Capital | -$606K | -$2.78M | $364K | -$1.04M | -$602K | -$406K | -$33K | -$52K | $17K | $33K | $16K |
| Total Working Capital Change | -$665K | -$2.68M | $5.41M | -$1.2M | -$758K | -$335K | $950 | -$626K | $8K | $33K | $9K |
| Other Non-Cash Items | -$4.21M | -$4.07M | -$3.68M | -$370K | -$12.77M | -$3.97M | -$76K | -$886K | -$319K | -$362K | -$167K |
| Net Cash from Operating | -$4.62M | -$5.31M | $3.19M | -$2.84M | -$1.72M | -$400K | -$9K | -$1.73M | -$399K | -$411K | -$112K |
| Investing Activities | |||||||||||
| Capital Expenditures | $0 | $0 | $0 | -$2K | -$8K | -$178K | -$3.75M | -$1.29M | -$461K | -$355K | -$224K |
| Acquisitions | $0 | $0 | $5.89M | $0 | $0 | $0 | -$221K | $0 | $0 | $0 | $0 |
| Purchases of Investments | $0 | -$18K | $0 | -$394K | -$402K | $0 | -$78K | -$47K | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $78K | $0 | $0 | $0 | $0 |
| Other Investing Activities | -$18.97M | -$13.6M | -$23.52M | -$17.49M | -$5.55M | -$616K | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Investing | -$18.97M | -$13.62M | -$17.64M | -$17.88M | -$5.96M | -$794K | -$4.05M | -$1.33M | -$461K | -$355K | -$224K |
| Financing Activities | |||||||||||
| Debt Repaid | $188K | - | - | - | - | - | - | - | - | - | - |
| Common Stock Issuance | $72.82M | $22.06M | $7.96M | $17.46M | $13.12M | $5.48M | $11.17M | $3.3M | $841K | $788K | $353K |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | -$1.49M | -$1.62M | -$591K | $3.95M | -$106K | -$433K | $1.04M | $0 | $0 | $0 | $0 |
| Net Cash from Financing | $71.14M | $20.44M | $7.37M | $21.41M | $13M | $5.04M | $12.21M | $3.3M | $841K | $788K | $353K |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | -$20 | -$101 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $47.56M | $1.51M | -$7.08M | $691K | $5.31M | $3.85M | -$9K | $233K | -$19K | $23K | $17K |
| Supplementary Data | |||||||||||
| Operating Cash Flow | -$4.62M | -$5.31M | $3.19M | -$2.84M | -$1.72M | -$400K | -$9K | -$1.73M | -$399K | -$411K | -$112K |
| Capital Expenditure | $0 | -$15K | -$23K | -$2K | -$8K | -$178K | -$3.75M | -$1.29M | -$461K | -$355K | -$224K |
| Free Cash Flow | -$4.62M | -$5.31M | $3.19M | -$2.84M | -$1.73M | -$578K | -$3.76M | -$3.02M | -$860K | -$766K | -$337K |
| Cash at Beginning | $6.69M | $5.18M | $12.26M | $9.41M | $4.1M | $254K | $263K | $36K | $55K | $32K | $15K |
| Cash at End | $54.25M | $6.69M | $5.18M | $10.1M | $9.41M | $4.1M | $254K | $269K | $36K | $55K | $32K |