Perpetua Resources Announces Full Exercise of Option and Additional Proceeds of US$49 Million | PPTA Stock News

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3 days ago
  • Perpetua Resources (PPTA, Financial) raises US$49 million through a full exercise of underwriters' options.
  • Total financing from recent offerings reaches approximately US$474 million.
  • Funds will support the development of the Stibnite Gold Project in Idaho.

Perpetua Resources Corp. (Nasdaq: PPTA) announced an additional US$49 million in funding following the full exercise of an option by underwriters to purchase an additional 3,693,300 common shares at US$13.20 per share. This new funding further strengthens the company's financial position, bringing the total financing package to approximately US$474 million.

This capital infusion is part of Perpetua's strategic financing efforts, which previously included a US$325 million public offering and a US$100 million private placement with Paulson & Co. Inc. The funds will be allocated towards the development of the Stibnite Gold Project. This project is notable for its aim to restore an abandoned mine site while producing both gold and antimony, a critical mineral for U.S. defense needs.

The successful completion of this financial package underscores investor confidence in Perpetua Resources and their future ambitions with the Stibnite Gold Project, highlighting the company's commitment to applying modern, responsible mining practices.

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I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.