Core Viewpoint - Perpetua Resources Corp. has announced a bought deal offering to raise approximately US$300 million through the sale of common shares, which will be used to finance the development of the Stibnite Gold Project and support other corporate activities [1][2][3] Financing Details - The company will sell 22,728,000 common shares at a price of US$13.20 per share, with gross proceeds expected to be around US$300 million [1] - Paulson & Co. Inc. has committed to purchase US$100 million of common shares in a private placement at the same offering price [1][2] - The offering is expected to close on or about June 16, 2025, subject to customary conditions [6] Project Financing - The proceeds from the offering and private placement will be part of a comprehensive financing package for the Stibnite Gold Project, which includes an application for up to US$2 billion in project financing submitted to the Export-Import Bank of the United States (EXIM) [2][3] - The company anticipates that the net proceeds will cover the project construction costs of US$2.2 billion, along with additional funds for cost overruns and working capital [3] Financial Assurance and Partnerships - The company is in advanced discussions for guarantees related to reclamation bonds, seeking a US$155 million guarantee and indemnification, along with proceeds of US$200 million to US$250 million in exchange for a gold net smelter return royalty or a gold stream [4] - Securing the financial assurance is expected to enable the company to receive the necessary permits to commence construction later in 2025 [4] Underwriters and Options - The underwriters have an option to purchase an additional 3,409,200 common shares, which could increase the total gross proceeds to approximately US$345 million if fully exercised [5] Company Overview - Perpetua Resources focuses on the exploration and redevelopment of gold-antimony-silver deposits in the Stibnite-Yellow Pine district of Idaho, with the Stibnite Gold Project being one of the highest-grade open-pit gold deposits in the U.S. [11]
Perpetua Resources Announces US$300 Million Bought Deal Financing and US$100 Million Private Placement as part of Comprehensive Financing Package for Stibnite Gold Project