BOISE, Idaho, Dec. 9, 2025 /PRNewswire/ - Perpetua Resources Corp. (Nasdaq: PPTA) (TSX: PPTA) ("Perpetua Resources" or "Perpetua" or the "Company") today announced that it has entered an agreement with the Idaho National Laboratory ("INL") via Battelle Energy Alliance LLC ("Battelle") for the INL to host, commission, and operate a flexible, modular pilot processing plant expected to be capable of recovering various critical and defense-related minerals, including antimony from the Company's ores. This init ...

Core Viewpoint - Perpetua Resources Corp. has announced a public offering of 2,938,000 common shares at a price of US$24.25 per share, aiming to raise approximately $71.2 million, with potential additional proceeds from a concurrent private placement with Agnico Eagle Mines Limited [1][2]. Group 1: Offering Details - The gross proceeds from the public offering are expected to be approximately $71.2 million, and if Agnico exercises its participation right fully, total proceeds could reach approximately $78.2 million [2]. - The offering is set to close on or about October 30, 2025, subject to customary conditions [5]. - The common shares will be offered in the United States under an effective shelf registration statement, with BMO Capital Markets, National Bank of Canada Capital Markets, and RBC Capital Markets acting as joint book-running managers [4][6]. Group 2: Use of Proceeds - The net proceeds from the offering and the concurrent private placement will be utilized for the construction and development of the Stibnite Gold Project, working capital costs, ongoing exploration and development activities, restoration and reclamation work, and general corporate purposes [3]. Group 3: Project Overview - The Stibnite Gold Project is recognized as one of the highest-grade open-pit gold deposits in the United States, focusing on responsible mining practices to restore an abandoned mine site while producing gold and antimony, which is critical for U.S. defense needs [9].

Core Insights - Perpetua Resources Corp. is set to discuss critical minerals and the Stibnite Gold Project on FOX Business Network, highlighting the importance of antimony in U.S. defense needs [1][2]. 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. [4]. - The project aims to restore an abandoned mine site while producing gold and the only mined source of antimony in the U.S., which is crucial for various defense applications [4]. Upcoming Events - Jon Cherry, President and CEO of Perpetua Resources, will appear on FOX Business on October 15, 2025, at 7:30 am ET to discuss the company's initiatives and the significance of China's control over rare earth and critical minerals [1][2][3]. - The early works construction for the Stibnite Gold Project may commence as soon as next week, indicating progress in the project timeline [2].

Core Insights - Perpetua Resources Corp. released its 2024 Sustainability Report, marking the company's 12th annual report, which highlights its achievements in environmental, social, and governance (ESG) goals [1][3] - The report aligns with the Sustainability Accounting Standards Board (SASB) reporting framework for the Metals and Mining Industry [1] Group 1: Company Achievements - The company received its Final Environmental Impact Statement (FEIS) and a Draft Record of Decision (ROD) in September 2024, followed by a Final ROD in January 2025, which are significant milestones for advancing the Stibnite Gold Project [2] - The Stibnite Gold Project aims to provide a domestic source of antimony and develop one of the largest and highest-grade open pit gold mines in the U.S. while restoring an abandoned brownfield site [4][5] Group 2: Sustainability Efforts - The company has reported 154 months with no reportable spills and 109 months with no lost time incidents, showcasing its commitment to operational safety [7] - 100% of employees participated in business integrity and compliance training, reflecting the company's focus on ethical practices [7] - The company has invested $19 million in legacy cleanup activities since 2021 to improve water quality at the site [7] - In 2024, the company spent $23.6 million in Idaho, totaling over $132 million since 2014, indicating its economic contribution to the region [7]

Core Viewpoint - Perpetua Resources Corp. has successfully closed a US$325 million public offering and a US$100 million private placement to fund the development of its Stibnite Gold Project, aiming for comprehensive financing to support construction and operational costs [1][3][4]. Financing Details - The public offering consisted of 24,622,000 common shares priced at US$13.20 each, while the private placement involved 7,575,757 common shares sold to Paulson & Co. Inc. [1][9] - The proceeds from both offerings will be used for equity requirements related to a US$2 billion project financing application submitted to the Export-Import Bank of the United States (EXIM) [3][4]. Project Development - The Stibnite Gold Project is projected to require total construction costs of US$2.2 billion, with additional funds allocated for cost overruns, debt service, and exploration activities [4]. - The company is in advanced discussions for a US$155 million guarantee related to reclamation bonds, which is essential for meeting financial assurance requirements [5]. Regulatory and Permitting Status - The company anticipates that securing the necessary financial assurance will enable it to receive the USFS notice to proceed with construction under the approved plan of operation [5]. - The remaining state permits required for construction are expected to be issued in summer 2025 [5]. Underwriters and Additional Offerings - The underwriters have an option to purchase an additional 3,693,300 common shares, which could increase the total gross proceeds of the offering to approximately US$374 million if fully exercised [6]. Company Background - Perpetua Resources focuses on the exploration and redevelopment of gold-antimony-silver deposits in Idaho, with the Stibnite Gold Project being one of the highest-grade open-pit gold deposits in the U.S. [10]. - The project aims to restore an abandoned mine site while producing gold and the only mined source of antimony in the U.S., which is critical for national defense [10].

Core Viewpoint - Perpetua Resources Corp. has been awarded additional funding of up to $6.9 million from the U.S. Army to support the development of a domestic supply chain for antimony trisulfide, a critical component for munitions and defense systems [1][2] Funding and Agreements - The new funding builds on a previous award of $15.5 million received in August 2023 under the Ordnance Technology Initiative Agreement (OTIA) [1][2] - The total funding under the OTIA can reach up to $22.4 million, subject to adjustments based on various factors as the program progresses [4] - Perpetua has now received over $80 million in total from the Department of Defense [2] Project Details - The Stibnite Gold Project is expected to supply up to 35% of U.S. antimony demand during its first six years of operations [5] - The project aims to restore American supply chain resilience, create jobs, and address environmental issues at an abandoned mine site [5][10] - Antimony trisulfide is essential for over 300 types of munitions, highlighting the importance of establishing a domestic supply chain [3] Strategic Importance - The partnership with the Department of Defense is part of a broader strategy to secure domestic sources of critical minerals, enhancing national defense capabilities [2][3] - The project aligns with the U.S. Army's "ground-to-round" critical minerals strategy, emphasizing the need for a fully domestic supply chain [2][3]

Core Viewpoint - Perpetua Resources Corp. has submitted a formal application to the Export-Import Bank of the United States (EXIM) for potential debt financing of up to $2 billion to construct the Stibnite Gold Project, which aims to establish a domestic source of antimony and produce gold [2][3][4]. Group 1: Project Financing and Application - The application amount has increased from $1.8 billion to $2 billion, reflecting a higher estimated number of job-years based on recent financial updates and engineering work [1][3]. - EXIM is expected to conduct standard due diligence on the application, assessing the project's eligibility under relevant initiatives [2][3]. - The financing, if approved, could cover a majority of the project's development costs, enhancing the U.S. competitive position against China in antimony production [5][6]. Group 2: Strategic Importance of the Project - The Stibnite Gold Project is positioned as a national strategic asset for domestic antimony production and is also recognized as a world-class gold asset [4][5]. - The project aims to restore a secure supply of antimony for the U.S., which is critical for national defense, especially after China blocked global antimony exports in 2024 [5][6]. - Perpetua Resources has received a Technology Investment Agreement of $59.2 million in Defense Production Act funding to advance the project [7]. Group 3: Regulatory and Permitting Progress - Perpetua has received its final federal permit, the Clean Water Act Section 404 permit, marking the end of an eight-year federal permitting process [6]. - The company is now focused on obtaining remaining state permits and securing financing to commence construction [6][7].

Core Points - The Stibnite Gold Project has been designated as a Transparency Project under President Trump's Executive Order aimed at enhancing U.S. mineral production and reducing reliance on foreign minerals [1][2] - The project is expected to supply critical mineral antimony, essential for national security and energy technology, with a decision on the final federal permit anticipated in Q2 2025 [2][5] Project Recognition and Strategic Importance - The recognition as a Transparency Project highlights the strategic value of the Stibnite Gold Project for America's economic and national security [2] - The project is positioned to produce gold and the only domestically mined source of antimony, potentially meeting up to 35% of U.S. antimony demand during its initial six years of production [5] Federal Support and Funding - The Executive Order directs federal agencies to streamline permitting for Priority Projects and utilizes Defense Production Act Title III awards to support domestic mining [3][4] - Perpetua Resources has received nearly $75 million in awards from the Department of Defense and a Letter of Interest from the U.S. Export-Import Bank for $1.8 billion [3] Environmental and Economic Benefits - The Stibnite Gold Project aims to create hundreds of family-wage jobs, restore salmon habitats, and address environmental contamination at a previously abandoned mine site [6] - The project will be powered by one of the lowest carbon emissions grids in the nation, aligning with Perpetua Resources' ESG and sustainable mining goals [7][8]