Perpetua Resources' vision is to provide the U.S. with a domestic source of the critical mineral antimony while developing one of the largest and highest-grade open pit gold mines in the Americas and restoring an abandoned brownfield site. The Company is currently advancing a comprehensive project financing plan along with detailed engineering, long-lead time procurement, early works construction activities and execution planning in anticipation of a full sanction construction decision in the Spring of 2026.
"Perpetua Resources broke ground on the Stibnite Gold Project on October 21, 2025, marking a historical milestone for our stakeholders, the state of Idaho and our nation," said Jon Cherry, President and CEO of Perpetua Resources. "We are proud to develop one of the most significant gold projects in the United States, which is expected to produce gold along with antimony for our military and industrial base. Following the successful equity offering in June and July 2025, and upon receiving the Notice to Proceed from the United States Forest Service ("USFS"), we broke ground in October 2025. Looking forward, we are focused on advancing our comprehensive project financing plan including progressing the U.S. EXIM debt financing with EXIM Board consideration expected by the Spring of 2026, continuing early works activity and resuming exploration activities on high priority targets within the area approved in Perpetua's Plan of Operations."
Third Quarter 2025 and Recent Highlights:
Zero lost time incidents or reportable environmental spills.
Full exercise of underwriter option for June equity offering for $49 million in gross proceeds closed July 14, 2025.
Received the Preliminary Project Letter and Indicative Term Sheet from U.S. EXIM on September 8, 2025 regarding the Company's application for $2.0 billion in debt financing.
Conditional Notice to Proceed received from the USFS on September 19, 2025 authorizing Project development upon placement of financial assurance.
Issued request for proposal to assess technical and economic feasibility of off-site processing facilities from third parties to secure antimony for domestic uses.
Appointment of Mark Murchison to succeed Jessica Largent as Chief Financial Officer effective October 1, 2025. In addition, the company appointed Joe Fazzini as Vice President, Investor Relations on November 10, 2025.
Began early works construction for the Stibnite Gold Project on
