BOISE, Idaho, March 20, 2025 /PRNewswire/ - Perpetua Resources Corp. (NASDAQ: PPTA) (TSX: PPTA) ("Perpetua Resources" or "Perpetua" or the "Company"), announced today that its Annual Report on Form 10-K for the year ended December 31, 2024, which includes its audited consolidated financial results for the period ended December 31, 2024, was filed. For details, please see the Company's filings available on EDGAR and SEDAR. Perpetua Resources' vision is to provide the U.S. with a domestic source of the critic ...

Financial Performance - The company has experienced continuing net losses and net negative working capital, raising substantial doubt about its ability to continue as a going concern [417]. - The net loss for 2024 was $14.5 million, a decrease from a net loss of $18.8 million in 2023, reflecting a reduction of approximately 22.5% [424]. - The accumulated deficit as of December 31, 2024, was approximately $595.2 million, up from $580.7 million in 2023 [430]. - The company reported a total net loss of $14,483,001 for the year ended December 31, 2024, down from $18,771,180 in 2023 [502]. - The U.S. net operating loss carryforward was approximately $42,705,202 as of December 31, 2024, compared to $42,897,060 in 2023 [503]. Assets and Equity - Total assets increased to $117.6 million in 2024 from $83.1 million in 2023, representing a growth of approximately 41.5% [422]. - Shareholders' equity increased to $108.9 million in 2024 from $72.3 million in 2023, an increase of about 50.7% [422]. - Cash and cash equivalents rose significantly to $44.1 million in 2024, up from $3.2 million in 2023, marking an increase of over 1,267% [428]. Exploration and Development - The company is focused on achieving its exploration, development, and environmental protection objectives for the Stibnite Gold Project [20]. - Exploration expenses surged to $45.3 million in 2024, compared to $29.9 million in 2023, indicating a year-over-year increase of approximately 51.5% [424]. - Exploration costs totaled $45,291,495 in 2024, up from $29,907,708 in 2023, with engineering costs increasing significantly to $23,155,660 [524]. Funding and Financing - The company plans to submit a financing application to the Export-Import Bank of the United States (U.S. EXIM) to secure funding for the Stibnite Gold Project [20]. - The company is reliant on timely access to capital and financing sources to fund its project development [20]. - The company is exploring various strategic and funding opportunities, including potential equity issuance and government funding [431]. - The company engaged RBC Capital Markets and Endeavour Financial to assist in evaluating potential strategic and financing opportunities [431]. Risks and Challenges - The company anticipates potential delays in obtaining required permits and governmental approvals, which could impact its business and financial condition [20]. - The company is subject to various risks including changes in commodity prices, regulatory changes, and competition within the mining industry [21]. - The company is assessing the impact of strategic transactions on its business and financial condition, including associated costs and risks [20]. Shareholder Information - The company reported a weighted average of 65.6 million common shares outstanding in 2024, compared to 63.2 million in 2023, reflecting an increase of approximately 3.8% [424]. - The company sold 1,834,104 common shares in 2024 for proceeds of approximately $10.4 million, compared to 894,882 shares for approximately $2.1 million in 2023, representing a 394.3% increase in proceeds [485]. - The company entered into an underwriting agreement on November 18, 2024, resulting in gross proceeds of approximately $33.2 million from the sale of 3,439,465 common shares [486]. Compensation and Expenses - Share-based compensation for the years ended December 31, 2024, and 2023 totaled $3,897,010 and $3,038,404, respectively, indicating a 28.4% increase [489]. - The company recognized $1,450,183 in compensation expense for Restricted Share Units (RSUs) in 2024, up from $1,262,926 in 2023, a rise of 14.9% [496]. - The company recognized compensation expenses related to PSUs and MPSUs of $1,984,866 and $1,089,214 for the years ended December 31, 2024 and 2023, respectively [497]. - The company expects to record an additional $2.3 million in compensation expense related to PSUs and MPSUs over the next 1.64 years [497]. Environmental and Legal Obligations - The company spent $2.3 million on environmental reclamation activities in 2024, significantly reduced from $10.9 million in 2023 [505]. - The Stibnite Foundation will receive total payments of $5 million over four years, including $4 million for water quality projects and $1 million for legal reimbursements [512]. - The company recognized a $5 million expense related to the CWA settlement in the second quarter of 2023 [512]. Accounting and Valuation - The company's financial information is based on the Financial Update for the Stibnite Gold Project, which is intended to supplement the 2020 Feasibility Study [35]. - The Company evaluates estimates related to deferred income tax asset valuations and share-based compensation, which may differ materially from actual results [436]. - The Company applies IAS 20 for accounting government grants, recognizing them when there is reasonable assurance that conditions will be met [465].

Core Viewpoint - Perpetua Resources Corp. has been added to the Market Vectors Junior Gold Miners Index and the VanEck Junior Gold Miners ETF, effective March 21, 2025, which may enhance its share liquidity and investment appeal [1][2]. Company Overview - Perpetua Resources focuses on the exploration, site restoration, and redevelopment of gold-antimony-silver deposits in the Stibnite-Yellow Pine district of Idaho, specifically through the Stibnite Gold Project [3]. - The Stibnite Gold Project is recognized as one of the highest-grade open-pit gold deposits in the U.S. and aims to restore an abandoned mine site while producing gold and the only mined source of antimony in the country [3]. Project Significance - The project is designed to align with modern, responsible mining practices and will utilize one of the lowest carbon emissions grids in the nation [3]. - A portion of the antimony produced will be supplied to Ambri, a U.S.-based company focused on low-cost liquid metal batteries, contributing to the low-carbon energy transition [3]. - Perpetua Resources has received a Technology Investment Agreement of $59.2 million in Defense Production Act funding to support the project's construction readiness and permitting [3]. Market Impact - Inclusion in the VanEck Junior Gold Miners ETF is expected to attract a broader base of institutional and retail investors, enhancing the investment case for Perpetua Resources [2][3]. - The company anticipates that this inclusion will increase the visibility and liquidity of its common shares, making the Stibnite Gold Project more attractive to investors [5][6].

Core Viewpoint - Pomerantz LLP is investigating potential securities fraud or unlawful business practices by Perpetua Resources Corp and its officers or directors, following a significant stock price drop after the company updated its cash flow model for the Stibnite Gold Project [1][2][3] Group 1: Company Developments - On February 13, 2025, Perpetua disclosed an updated cash flow model for the Stibnite Gold Project, which included new cost estimates and commodity pricing [2] - The updated financial model indicates an increase in initial and total capital expenditures and Life of Mine All-In Sustaining Costs (LOM AISC) compared to the 2020 Feasibility Study [2] Group 2: Market Reaction - Following the announcement of the updated cash flow model, Perpetua's stock price fell by $2.68 per share, representing a 22.39% decrease, closing at $9.29 per share on February 14, 2025 [3]

Core Viewpoint - Rosen Law Firm is investigating potential securities claims on behalf of shareholders of Perpetua Resources Corp. due to allegations of materially misleading business information issued by the company [1]. Group 1: Company Information - Perpetua Resources filed a current report on Form 8-K with the SEC on February 13, 2025, which included an updated cash flow model for the Stibnite Gold Project based on engineering work completed by Ausenco Engineering USA South Inc. in January 2025 [4]. - The financial update indicated an increase in initial and total capital expenditures and Life of Mine All-In Sustaining Costs (LOM AISC) compared to the 2020 Feasibility Study, but also noted improvements in key economic metrics such as Annual Average EBITDA and Annual Average Free Cash Flow due to increased commodity prices [4]. - Following the announcement, Perpetua Resources' common stock fell by $2.68 per share, or 22.3%, closing at $9.29 per share on February 14, 2025 [4]. Group 2: Legal Action - Investors who purchased Perpetua Resources securities may be entitled to compensation through a class action lawsuit being prepared by Rosen Law Firm, with no out-of-pocket fees or costs due to a contingency fee arrangement [2]. - To join the prospective class action, investors can submit a form or contact the law firm directly for more information [3]. Group 3: Rosen Law Firm Credentials - Rosen Law Firm has a strong track record in securities class actions, having achieved the largest securities class action settlement against a Chinese company and being ranked No. 1 for the number of settlements in 2017 [5]. - The firm has recovered hundreds of millions of dollars for investors, securing over $438 million in 2019 alone [5].

Core Viewpoint - The Schall Law Firm is investigating Perpetua Resources Corp. for potential violations of securities laws related to misleading statements and undisclosed information affecting investors [1][2]. Group 1: Investigation Details - The investigation centers on whether Perpetua issued false or misleading statements or failed to disclose relevant information to investors [2]. - Perpetua filed a current report on form 8-K with the SEC on February 13, 2025, revealing an updated cash flow model for the Stibnite Gold Project based on engineering work completed by Ausenco Engineering USA South Inc. in January 2025 [2]. Group 2: Financial Update Insights - The Financial Update indicated an increase in initial and total capital expenditures and Life of Mine (LOM) All-In Sustaining Costs (AISC) compared to the 2020 Feasibility Study [2]. - Despite the increase in costs, the rise in commodity prices led to improvements in key economic metrics, including Annual Average EBITDA and Annual Average Free Cash Flow, while maintaining a similar after-tax Net Present Value (NPV) at a 5% discount rate [2]. - Following the announcement of the Financial Update, shares of Perpetua fell by 22.3% on February 14, 2025 [2].

Core Viewpoint - Perpetua Resources Corp. is under investigation following a significant drop in stock price after the release of an updated cash flow model for the Stibnite Gold Project, which indicated increased capital expenditures but improved economic metrics due to rising commodity prices [2]. Group 1: Investigation Details - On February 13, 2025, Perpetua Resources filed a current report on form 8-K with the SEC, detailing an updated cash flow model for the Stibnite Gold Project based on engineering work completed by Ausenco Engineering USA South Inc. in January 2025 [2]. - The Financial Update indicated an increase in initial and total capital expenditures and Life of Mine (LOM) All-In Sustaining Costs (AISC) compared to the 2020 Feasibility Study, but also showed improvements in Annual Average EBITDA and Annual Average Free Cash Flow due to higher commodity prices [2]. - Following the announcement, Perpetua Resources' stock fell by $2.68 per share, or 22.3%, closing at $9.29 on February 14, 2025 [2]. Group 2: Next Steps - Investors who purchased Perpetua Resources securities and have relevant information are encouraged to assist the investigation by visiting the firm's website or contacting the firm's representatives [3].

Core Viewpoint - Rosen Law Firm is investigating potential securities claims on behalf of shareholders of Perpetua Resources Corp. due to allegations of materially misleading business information issued by the company [1]. Group 1: Investigation Details - The investigation is prompted by a current report filed by Perpetua Resources on February 13, 2025, which included an updated cash flow model for the Stibnite Gold Project, indicating increased capital expenditures and operating costs compared to previous estimates [4]. - Following the report, Perpetua Resources' stock price dropped by $2.68, or 22.3%, closing at $9.29 per share on February 14, 2025 [4]. Group 2: Class Action Information - Shareholders who purchased Perpetua Resources securities may be entitled to compensation through a class action lawsuit, with no out-of-pocket fees or costs due to a contingency fee arrangement [2]. - Interested parties can join the class action by submitting a form or contacting the Rosen Law Firm directly [3]. Group 3: Rosen Law Firm Credentials - The Rosen Law Firm has a strong track record in securities class actions, having achieved significant settlements and recognition in the field [5]. - The firm has recovered hundreds of millions of dollars for investors, with notable achievements in 2019 and 2020 [5].

Core Viewpoint - The Stibnite Gold Project is confirmed as a world-class asset with the lowest cost gold production in a Tier 1 jurisdiction, supported by low-cost hydro power and valuable antimony by-product essential for national defense and technology sectors [1][3]. Economic Highlights - The project has an after-tax net present value (NPV) of $3.7 billion at a 5% discount rate and an after-tax internal rate of return (IRR) exceeding 27% based on spot prices [3][10]. - All-In Sustaining Costs (AISC) are projected to average $435 per gold ounce over the first four years and under $760 per gold ounce over the life of the mine, positioning it as the lowest cost gold project in the U.S., Canada, and Australia [3][10]. - The project is expected to recover a total of 4.2 million ounces of gold and 106.5 million pounds of antimony over its 15-year life [10]. Job Creation and Financing - A projected increase of over 15% in job creation could support an increase in the existing $1.8 billion indication of interest from the U.S. Export-Import Bank [2][5]. - The company is advancing its loan application process with the U.S. Export-Import Bank, which received a Letter of Interest in April 2024 [5][23]. Project Development - The company has completed basic engineering and is moving forward with detailed engineering studies and procurement contracts, including a contract with Idaho Power for powerline materials [3][4]. - The project aims to become a reliable source of antimony, a critical mineral for defense needs, with construction expected to start in 2025 [4][23]. Technical and Financial Information - The Financial Update is based on basic engineering work completed to date, using the fourth quarter of 2024 as a base date for cost estimates [6][29]. - The project is designed to apply a modern, responsible mining approach to restore an abandoned mine site while producing gold and antimony [23].

Group 1 - Perpetua Resources Corp. (PPTA) is currently outperforming its peers in the Basic Materials sector, with a year-to-date performance of approximately 6.7% compared to an average loss of 7.8% for Basic Materials stocks [4] - The Zacks Consensus Estimate for PPTA's full-year earnings has increased by 25% over the past 90 days, indicating improving analyst sentiment and a positive earnings outlook [4] - Perpetua Resources Corp. holds a Zacks Rank of 1 (Strong Buy), suggesting a favorable earnings outlook compared to other stocks in the sector [3] Group 2 - The Basic Materials sector includes 234 individual stocks and currently has a Zacks Sector Rank of 10, indicating its relative performance among 16 different groups [2] - Perpetua Resources Corp. is part of the Mining - Miscellaneous industry, which consists of 60 companies and is ranked 134 in the Zacks Industry Rank, with an average loss of 20% this year [6] - Another stock in the Basic Materials sector, Siderurgica Nacional (SID), has also outperformed the sector with a year-to-date return of 6.3% and a Zacks Rank of 2 (Buy) [5]