202611 releases
Perpetua Resources Awarded Up to $40 Million in U.S. Army Funding to Advance Domestic Tungsten Supply for American Defense
Perpetua Resources announced a new 36-month, $40 million award through the U.S. Army's Defense Ordnance Technology Consortium to evaluate producing tungsten concentrate at its Stibnite Mining District project in Idaho. The cost-share program will fund drilling, metallurgical testing and permitting and engineering of an exploration decline. The initial 18-month phase is expected to cost about $18 million, shared equally with the Army.
CorporatePerpetua Resources Provides Construction & Exploration Update
Construction and exploration progress at the Stibnite Gold Project in central Idaho includes pioneer roadwork on Burntlog Route, completion of Worker Housing Facility civil works in late August with foundation installation underway, and delivery of power poles with substations and transformers ordered. Drilling surpassed the 10,000-meter program in August and has been expanded, with 1,900 meters in five holes at the Clark Tunnel Fault Zone, 2,400 meters in eight holes at Fiddle, and 2,300 meters in fifteen holes at Scout. Four rigs will continue before winter.
CorporatePerpetua Resources Provides Construction Update on the Stibnite Gold Project and Exploration Activities
Critical path construction is advancing at the Stibnite Gold Project in central Idaho, with dual autoclave components being fabricated in Europe, about half of the ATCO permanent worker housing units delivered as of August 24, 2026, and work underway on the Administrative Pad and Burntlog Route. Four rigs have completed roughly 5,800 metres of a 10,000-metre drill program, with intercepts including 6.4 m of 16.2 g/t gold and 1.7% antimony from surface at the Clark Tunnel Fault Zone and 21.3 m of 3.2 g/t gold and 0.9% tungsten. On August 18, 2026 the U.S. District Court of Idaho upheld federal approvals, remanding only the FWS Incidental Take Statements; plaintiffs have appealed.
CorporatePerpetua Resources Announces Second Quarter 2026 Financial Results
A net loss of $97.5 million was reported for the second quarter of 2026 ($146.2 million for the six months to June 30, 2026), versus $6.0 million and $14.2 million a year earlier, with $574.2 million in unrestricted cash and $60.9 million restricted at quarter-end. EXIM's board unanimously approved a $2.9 billion senior secured loan on May 21, 2026 for the Stibnite Gold Project in Idaho, with a final investment and construction decision expected in the second half of 2026.
CorporatePerpetua Resources Reports New High-Grade Gold and Antimony Discoveries and a New Gold-Tungsten Zone at Stibnite
Drilling at the Stibnite Gold Project in Valley County, Idaho returned new high-grade gold, antimony and tungsten intercepts, including 21.3 meters of 3.2 g/t gold and 0.9% tungsten from 24 meters in the newly identified Clark Tunnel Fault Zone, 6.4 meters of 16.2 g/t gold and 1.7% antimony from surface, and 69.6 meters of 0.8 g/t gold at the Huckleberry Fault Zone. Results come from 8,340 meters of completed drilling; a minimum 10,000-meter 2026 program is underway with four rigs and about 5,800 meters done. Perpetua has submitted proposals for U.S. grant funding for tungsten work at Hangar Flats.
Drill resultsPerpetua Resources, US Army, and Idaho National Laboratory Launch Critical Minerals Pilot Plant to Advance Antimony Trisulfide Supply
A modular mineral processing pilot plant opened at Idaho National Laboratory in Idaho Falls on July 29, 2026, under a collaboration between Perpetua Resources, the U.S. Army via the Defense Ordnance Technology Consortium, and INL, managed by Battelle. It will process antimony samples from Perpetua's Stibnite Gold Project in central Idaho into antimony trisulfide. Perpetua has been awarded over $87 million from the U.S. Department of War and U.S. Army since 2022, including $27 million under its 2023 OTIA.
CorporatePerpetua Resources Publishes 2025 Sustainability Report
Perpetua Resources published its 2025 Sustainability Report, aligned with SASB's Metals and Mining framework, covering the Stibnite Gold Project in central Idaho, where final federal permits were secured and early works construction began. Reported highlights include 166 months with no reportable spills, 121 months with no lost time incidents, approximately $159.6 million in construction phase Financial Assurance posted, $63.4 million contributed to Idaho's economy in 2025, and over $19 million in legacy cleanup since 2021.
CorporatePerpetua Resources Reports Results of 2026 Annual Meeting
All nine director nominees were elected at Perpetua Resources' annual general meeting held virtually on June 4, 2026, with 100,523,482 common shares represented, or 80.35% of votes attached to outstanding shares at the April 8, 2026 record date. Shareholders also approved setting the number of directors at nine (99.73% in favor), ratified PricewaterhouseCoopers LLP as auditor for the fiscal year ending December 31, 2026 (99.84% in favor), and approved the 2026 Equity Incentive Plan (98.93% in favor).
CorporatePerpetua Resources Advances Construction of the Stibnite Gold Project
Construction of critical path activities at the Stibnite Gold Project in central Idaho is continuing after the U.S. District Court of Idaho denied project opponents' motion for a preliminary injunction on May 29, finding plaintiffs had not shown irreparable harm. On May 30, Perpetua began work on the Burntlog Route access road, alongside on-site worker housing, selected powerline upgrades and approved exploration and geotechnical drilling. Local contracts represent about $45 million in direct work in Idaho, with gold and antimony production targeted for 2029.
CorporateExport Import Bank of the United States Approves $2.9 Billion Loan for Development of Perpetua Resources’ Stibnite Gold Project
The Board of the Export-Import Bank of the United States unanimously approved a $2.9 billion senior secured long-term loan under its Make More in America Initiative for Perpetua Resources' Stibnite Gold Project in Valley County, Idaho. The 13-year facility includes an upfront $2.4 billion, with the remainder covering capitalized interest during construction and EXIM's exposure fee; interest will be set at the long-dated U.S. Treasury bond rate plus 100 basis points, fixed at first drawdown, with repayments anticipated to begin in 2030.
FinancingPerpetua Resources Announces First Quarter 2026 Financial Results
Unaudited condensed consolidated financial results for the period ended March 31, 2026 have been filed, with $669.5 million of cash on hand as of March 31, 2026. The U.S. EXIM Board has placed an approximately $2.7 billion proposed senior secured loan for the Stibnite Gold Project in Idaho on its May 21, 2026 meeting agenda, including roughly $2.2 billion for construction, financial assurance and certain corporate and exploration costs against estimated direct capital costs of $2,576 million. Environmental plaintiffs filed a preliminary injunction motion on May 8, 2026, with a hearing set for May 28. A final investment decision is expected in the second half of 2026.
Corporate
202520 releases
Perpetua Resources Selects Hatch as EPCM for Stibnite Gold Project
Hatch Ltd. has been selected as engineering, procurement and construction management contractor for the Stibnite Gold Project in central Idaho, ahead of a final investment decision expected in the spring of 2026. Hatch is also making a $4 million equity investment, comprising 138,696 common shares at $28.84 per share, the Nasdaq closing price on December 12, 2025, expected to close in two equal tranches upon reaching certain milestones. The definitive EPCM contract is expected to be finalized in the coming weeks.
CorporatePerpetua Resources Partners with the Idaho National Laboratory to Advance Critical Mineral Pilot Plant
An agreement has been signed with Idaho National Laboratory, via Battelle Energy Alliance, for INL to host, commission and operate a modular pilot processing plant to recover critical and defense-related minerals, including antimony, from Perpetua's Stibnite Gold Project ores in central Idaho. The plant will process Stibnite samples to produce military specification antimony trisulfide concentrate. The initiative falls under Perpetua's Defense Ordnance Technology Consortium partnership, which included up to $6.9 million awarded in May 2025, bringing total DOTC awards to $22.4 million.
CorporatePerpetua Further Strengthens Leadership Team as Development of the Stibnite Gold Project Advances
Four executives have joined Perpetua Resources: Jim Norine as Senior Vice President Projects, Tim Kahl as Senior Vice President Technical Services, Dustin Rissmiller as Vice President Human Resources and Joe Fazzini as Vice President Investor Relations. The appointments come as Early Works construction at the Stibnite Gold Project in central Idaho, which began in October 2025, continues ahead of a final investment decision expected in spring 2026. Vice President of Projects Michael Wright resigned on December 3, 2025 and will consult through early March 2026.
ManagementPerpetua Resources Announces Third Quarter 2025 and Recent Highlights
Unaudited condensed consolidated financial results for the period ended September 30, 2025 were filed, alongside quarterly and recent highlights for the Stibnite Gold Project in central Idaho. Early works construction began October 21, 2025 following a conditional Notice to Proceed from the U.S. Forest Service on September 19 and placement of financial assurance, with a full construction sanction decision anticipated in Spring 2026. The Company closed $49 million, $255 million and $78 million in equity proceeds, and received a U.S. EXIM indicative term sheet on September 8, 2025 for its $2.0 billion debt application.
CorporatePerpetua Resources Announces $70 Million Offering of Common Shares
A $70 million public offering of common shares in the United States has been launched, with BMO Capital Markets, National Bank of Canada Capital Markets and RBC Capital Markets as joint book-running managers. Under an Investor Rights Agreement dated October 28, 2025, Agnico Eagle Mines Limited intends to exercise its pro rata participation right in a concurrent private placement at the public offering price. Proceeds are intended for construction and development of the Stibnite Gold Project in Idaho, working capital, exploration, reclamation and general corporate purposes.
FinancingPerpetua Resources Announces Pricing of $71 million Offering of Common Shares and $7 million Concurrent Private Placement
A public offering of 2,938,000 common shares in the United States has been priced at US$24.25 per share, for gross proceeds of approximately $71.2 million, expected to close on or about October 30, 2025. Agnico Eagle Mines intends to exercise its pro rata participation right in a concurrent private placement at the same price, adding 280,415 shares for $6.8 million and bringing total gross proceeds to about $78.0 million. Proceeds are earmarked for construction and development of the Stibnite Gold Project in Idaho, working capital, exploration, reclamation and general corporate purposes.
FinancingPerpetua Resources Announces $255 Million Strategic Equity Investment from Agnico Eagle and JPMorganChase
A $255 million private placement has been agreed with Agnico Eagle ($180 million for 7,725,321 common shares, a 6.5% non-diluted stake) and JPMorganChase ($75 million for 3,218,884 shares, a 2.7% stake), priced at $23.30 per share, the October 24, 2025 Nasdaq close. Both investors receive warrants exercisable at $31.46, $34.95 and $38.45 over one, two and three years; Agnico Eagle's could raise up to $100 million and JPMorganChase's up to $42 million. Proceeds will fund the Stibnite Gold Project in central Idaho, exploration, working capital and general corporate purposes, alongside an application for up to US$2 billion from EXIM.
FinancingPerpetua Resources Breaks Ground on the Stibnite Gold Project
Early works construction has begun at the Stibnite Gold Project in central Idaho, after Perpetua Resources posted $139 million in construction phase financial assurance on October 17, 2025 using cash on hand and received Notice from the U.S. Forest Service that Record of Decision requirements were satisfied and the Plan of Operations signed. The project holds gold reserves of approximately 4.8 million ounces, with production of about 450,000 ounces annually over its first four years. In September 2025, Perpetua received a non-binding EXIM term sheet supporting $2 billion in debt financing, with board consideration expected by spring 2026.
CorporateMEDIA ADVISORY: Perpetua CEO to Join FOX Business to Discuss China, Critical Minerals
President and CEO Jon Cherry is scheduled to appear live on FOX Business Network's Mornings with Maria with anchor Maria Bartiromo on October 15, 2025 at 7:30am ET. The segment will cover China's rare earth and critical minerals control, antimony, and next steps for the Stibnite Gold Project, including early works construction that could begin as soon as next week.
CorporatePerpetua Resources Announces Appointment of Mark Murchison to Succeed Jessica Largent as Chief Financial Officer
Mark Murchison has been appointed Chief Financial Officer effective October 1, 2025, succeeding Jessica Largent, who is stepping down as CFO and from the Board on that date and will retire on January 2, 2026 while remaining an advisor to the CFO through the end of 2025. Murchison brings over 25 years in metals and mining, including seven years as CFO of Alacer Gold and 12 years at Rio Tinto. Early works construction at the Stibnite Gold Project is expected to begin this fall after Financial Assurance is posted.
ManagementPerpetua Resources Unveils Next Steps to Secure Commercial Downstream Antimony Processing
A Request for Proposal will be issued in the coming weeks to evaluate third-party off-site antimony processing facilities, with a final selection planned for the fourth quarter of 2025, subject to due diligence. The process covers the portion of the Stibnite Gold Project's 148-million-pound antimony reserve in Idaho designated for commercial use, separate from work with the U.S. Army on mil-spec antimony trisulfide under an award of up to $22.4 million. Discussions have included Clarios, Glencore, Nyrstar, Sunshine Silver and Trafigura.
CorporatePerpetua Resources Receives Notice to Proceed from U.S. Forest Service Authorizing Project Development
A conditional Notice to Proceed has been received from the U.S. Forest Service for the Stibnite Gold Project in central Idaho, stating the Project has satisfied all requirements of the January 2025 Record of Decision and may begin construction once joint financial assurance bonding agreed with the USFS, Idaho Department of Lands and U.S. Army Corps of Engineers is posted. Perpetua expects to post the bonding in the coming weeks, with early works construction beginning this fall.
CorporatePerpetua Resources Celebrates Stibnite Gold Project Advancing to Development with State and Federal Officials
The Stibnite Gold Project in central Idaho advanced to development following a conditional Notice to Proceed from the U.S. Forest Service, allowing development to begin once required financial assurance is posted. Perpetua expects to start early works construction this fall, with the project holding roughly 4.8 million ounces of gold reserves and expected production of about 450,000 ounces annually over its first four years, plus antimony supplying up to 35% of U.S. demand in the first six years. Perpetua also presented the Stibnite Foundation with a $350,000 contribution.
CorporatePerpetua Resources Receives Preliminary Project Letter and Indicative Term Sheet from the Export-Import Bank of the United States on Potential $2 Billion Debt Financing
A preliminary, non-binding indicative financing term sheet has been received from the Export-Import Bank of the United States as part of a Preliminary Project Letter covering Perpetua Resources' application for $2 billion in debt financing for the Stibnite Gold Project in central Idaho. The letter summarizes EXIM's initial due diligence findings, with final EXIM Board consideration anticipated by spring of 2026. The company received its final federal permit in the second quarter of 2025 and plans to commence early works construction in the fall of 2025.
FinancingPerpetua Resources Announces Second Quarter 2025 and Recent Highlights
Unaudited condensed consolidated financial results for the period ended June 30, 2025 were filed, alongside second quarter and recent highlights for the Stibnite Gold Project in central Idaho. The U.S. Army Corps of Engineers issued the Section 404 permit, and a formal application was submitted to U.S. EXIM for potential project debt financing of up to $2.0 billion. An equity financing closed for approximately $474 million in total gross proceeds, including $49 million from full exercise of an underwriter option.
CorporateU.S. Secretary of Labor, Idaho Governor Visit Perpetua Resources to Discuss Stibnite Gold Project Importance to Securing U.S. Jobs and Critical Minerals
U.S. Secretary of Labor Lori Chavez-DeRemer and Idaho Governor Brad Little met with Perpetua Resources in Valley County, Idaho, to discuss the Stibnite Gold Project, which the National Economic Development Council identified as a Transparency Project and which the company expects to provide 550+ direct jobs during operations. Perpetua also announced the Stibnite Launch Scholarship with the College of Western Idaho, presenting a $250,000 check to fund scholarships for 12 or more Geosciences and Mining Technician students annually for three years, and at least three per year thereafter. The Department of Defense has granted Perpetua more than $80 million to date.
CorporatePerpetua Resources Announces Full Exercise of Option and Additional Proceeds of US$49 Million
National Bank of Canada Financial Markets and BMO Capital Markets have exercised in full their option to purchase an additional 3,693,300 common shares of Perpetua Resources, for gross proceeds of approximately US$49 million. This brings total gross proceeds from the upsized US$325 million public offering of 24,622,000 shares at US$13.20 per share and the concurrent $100 million private placement of 7,575,757 shares to Paulson & Co. Inc. to approximately US$474 million. Proceeds form part of the financing package for the Stibnite Gold Project in Idaho.
FinancingPerpetua Resources Publishes 2024 Sustainability Report
Perpetua Resources' 12th annual sustainability report, covering 2024, has been published and aligns with the SASB reporting framework for the Metals and Mining Industry. Highlights include 154 months (12+ years) with no reportable spills, 109 months with no lost time incidents, $19 million spent on legacy cleanup activities at the Stibnite site since 2021, and $23.6 million spent in Idaho in 2024, more than $132 million since 2014. The Stibnite Gold Project received a Final Record of Decision in January 2025.
CorporatePerpetua Resources Closes US$425 Million Financing as part of Comprehensive Financing Package for Stibnite Gold Project
An upsized US$325 million public offering of 24,622,000 common shares at US$13.20 per share closed, alongside a concurrent US$100 million private placement of 7,575,757 shares to Paulson & Co., which now holds about 31% of shares outstanding. Proceeds are designated toward equity requirements for a US$2 billion EXIM project financing application for the Stibnite Gold Project in Idaho, with debt closing anticipated in 2026. Underwriters hold a 30-day option for 3,693,300 additional shares, taking gross proceeds to about US$374 million. Perpetua is also seeking a US$155 million reclamation bond guarantee plus US$200–250 million for a gold NSR royalty of up to 3.9% or a stream.
FinancingPerpetua Resources Announces Webinar to Provide Update on Successful Financing and Next Steps to Unlock Value at the Stibnite Gold Project
A webinar will be held on Wednesday, June 18, 2025 at 9:30 AM MT / 11:30 AM ET to review the recently closed registered offering and private placement of common shares and plans to develop the Stibnite Gold Project in central Idaho. Speakers include largest shareholder John Paulson, Chairman Marcelo Kim, and executive and project execution team members, followed by a Q&A. The Company applied in May 2025 to the Export-Import Bank of the United States for up to US$2 billion in project financing.
Corporate