BOISE,
Idaho, Nov. 14, 2024 /CNW/ - Perpetua Resources
Corp. (Nasdaq: PPTA) (TSX: PPTA) ("Perpetua Resources" or
"Perpetua" or the "Company") announced today that its unaudited
condensed consolidated financial results for the period ended
September 30, 2024 were filed. For
details, please see the Company's filings available on EDGAR and
SEDAR.
Perpetua Resources' vision is to provide the U.S. with a
domestic source of the critical mineral antimony, develop one of
the largest and highest-grade open pit gold mines in the country
and restore an abandoned brownfield site. Perpetua Resources is
focused on advancing the permitting for the Stibnite Gold Project
("Stibnite Gold Project" or "Project") through the National
Environmental Policy Act ("NEPA") process and construction
readiness for the Project.
Third Quarter 2024 and Recent Highlights:
- Zero lost time incidents or reportable environmental
spills.
- United States Forest Service ("USFS") published the Final
Environmental Impact Statement ("FEIS") and issued a Draft Record
of Decision ("DROD") for the Stibnite Gold Project.
- The U.S. Fish and Wildlife Service issued its Final Biological
Opinion on September 6, 2024 and the
National Marine Fisheries Service issued its Final Biological
Opinion on October 7, 2024.
- Engaged RBC Capital Markets and Endeavour Financial to assist
with the evaluation of potential strategic and financing
opportunities and to support the Company's application process in
connection with the Export-Import Bank of the United States ("U.S. EXIM") $1.8 billion Letter of Interest received in
April 2024.
"Perpetua Resources continued to gain momentum in the third
quarter of 2024 and reached another major milestone with the U.S.
Forest Service publishing a Draft
Record of Decision and Final Environmental Impact Statement for the
Stibnite Gold Project," said Jon
Cherry, President and CEO of Perpetua Resources. "We were
excited to see the Draft Record of Decision outline the decision to
authorize the project plan and look forward to delivering a
win-win-win for Idaho, the
environment, and America's national security."
Permitting and Construction Readiness Activities
Update:
On September 6, 2024,
the USFS published the FEIS and a DROD with respect to the Project.
The publication of the DROD commenced a 45-day pre-decisional
objection period, which expired on October
21, 2024. The objection period will be followed by another
45-day resolution period prior to the publication of the final
Record of Decision ("ROD"). The resolution period is expected to
expire on or about December 5, 2024,
which may be extended by the USFS in its sole discretion. Based on
the USFS schedule published in October
2024, the ROD is anticipated to be published by the end of
2024. Perpetua also continued to advance work on several ancillary
permits which are being progressed in parallel with the NEPA
process. Construction Readiness activities during the third quarter
focused on basic, value and detailed engineering for the
Project.
Website: www.perpetuaresources.com
About Perpetua Resources and the Stibnite Gold
Project
Perpetua Resources Corp., through its wholly owned
subsidiaries, is focused on the exploration, site restoration and
redevelopment of gold-antimony-silver deposits in the
Stibnite-Yellow Pine district of central Idaho that are encompassed by the Stibnite
Gold Project. The Project is one of the highest-grade, open
pit gold deposits in the United
States and is designed to apply a modern, responsible mining
approach to restore an abandoned mine site and produce both gold
and the only mined source of antimony in the United States. Further advancing Perpetua
Resources' ESG and sustainable mining goals, the Project will be
powered by one of the lowest carbon emissions grids in the nation
and a portion of the antimony produced from the Project will be
supplied to Ambri, a U.S.-based company commercializing a low-cost
liquid metal battery essential for the low-carbon energy
transition. Perpetua Resources has been awarded a Technology
Investment Agreement ("TIA") of $59.2
million in Defense Production Act Title III ("DPA") funding
to advance construction readiness and permitting of the Project.
Antimony trisulfide from Stibnite is the only known domestic source
of antimony that can meet U.S. defense needs for many small arms,
munitions, and missile types. In addition to the company's
commitments to transparency, accountability, environmental
stewardship, safety and community engagement, Perpetua Resources
adopted formal ESG commitments which can be found here.
Forward-Looking Information and Cautionary Note
Investors should be aware that the publication by the USFS of
the FEIS and the draft ROD, and the publication of the USFS
permitting schedule, does not indicate any commitments on the part
of the USFS with regard to the content or timing of a final ROD.
The draft ROD is subject to a 45-day objection period, followed by
a 45-day resolution period, which may be extended by the USFS in
its sole discretion. Furthermore, the USFS is not bound by the
permitting schedule and anticipated milestones may be delayed
materially or not be satisfied. In addition, investors should be
aware that the U.S. EXIM Letter of Interest is non-binding and
conditional, and does not represent a financing commitment. A
funding commitment is conditional upon completing the application,
due diligence and underwriting process and receiving all required
Project approvals. Additionally, funding under the DPA TIA is
available only for the specified costs related to permitting,
environmental baseline data monitoring, environmental and technical
studies, and advancing construction readiness and is not available
to fund the Company's costs under its Administrative Settlement and
Order on Consent obligations and certain corporate
expenses.
Statements contained in this news release that are not
historical facts are "forward-looking information" or
"forward-looking statements" (collectively, "Forward-Looking
Information") within the meaning of applicable Canadian securities
legislation and the United States Private Securities Litigation
Reform Act of 1995. Forward-Looking Information includes, but is
not limited to, disclosure regarding the content and timing of
final ROD and other actions to be taken by the Department of
Defense, USFS, the State of Idaho
and other government agencies and regulatory bodies; the timing and
resolution of any objection to the FEIS or draft ROD; our plans to
submit a financing application to U.S. EXIM; the prospects of
successfully securing financing from U.S. EXIM or from other
sources on acceptable terms, or at all; the expected timing of, and
benefits to the Stibnite Gold Project of, securing such financing
from U.S. EXIM; anticipated approval of reimbursement requests
under the definitized agreement; environmental clean up actions by
us and our contractors; that the Stibnite Gold Project results in
the outcomes we expected, including our reserves and resources and
anticipated production and costs; our ability to comply with and
obtain permits related to the Stibnite Gold Project; our ability to
successfully implement and fund the Project and the occurrence of
the expected benefits from the Project, including creation of jobs
and environmental benefits; and our and Ambri Inc.'s ability to
perform under the supply agreement. In certain cases,
Forward-Looking Information can be identified by the use of words
and phrases or variations of such words and phrases or statements
such as "anticipate", "expect" "plan", "likely", "believe",
"intend", "forecast", "project", "estimate", "potential", "could",
"may", "will", "would" or "should". In preparing the
Forward-Looking Information in this news release, Perpetua
Resources has applied several material assumptions, including, but
not limited to, assumptions that the public review process of the
final ROD will proceed in a timely manner and as expected, and that
the final ROD will be published based on the USFS schedule; that we
will be able to successfully complete the U.S. EXIM application
process and secure financing, through U.S. EXIM or other sources to
finance permitting, pre-construction and construction of the
Project; that the current exploration, development, environmental
and other objectives concerning the Stibnite Gold Project can be
achieved and that its other corporate activities will proceed as
expected; that the formal review process under the NEPA
(including any joint review process involving the USFS, the
State of Idaho and other agencies
and regulatory bodies) will proceed in a timely manner and as
expected; that general business and economic conditions will not
change in a materially adverse manner and that permitting and
operations costs will not materially increase; and that we will be
able to discharge our liabilities as they become due and continue
as a going concern. Forward-Looking Information are based on
certain material assumptions and involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of Perpetua Resources to be
materially different from any future results, performance or
achievements expressed or implied by the Forward-Looking
Information. Such risks and other factors include, among other
things, risks related to unforeseen delays in the review and
permitting process; risks related to opposition to the Project;
risks related to increased or unexpected costs in operations or the
permitting process; risks that necessary financing will be
unavailable when needed on acceptable terms, or at all; risks
related to the outcome of litigation and potential for delay of the
Project, as well as those factors discussed in Perpetua
Resources' public filings with the U.S. Securities and Exchange
Commission (the "SEC") and its Canadian disclosure record. Although
Perpetua Resources has attempted to identify important factors that
could affect Perpetua Resources and may cause actual actions,
events or results to differ materially from those described in
Forward-Looking Information, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or
intended. There can be no assurance that Forward-Looking
Information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
Forward-Looking Information. For further information on these and
other risks and uncertainties that may affect the Company's
business and liquidity, see the "Risk Factors" and "Management's
Discussion and Analysis of Financial Condition and Results of
Operations" sections of the Company's filings with the SEC,
including Perpetua's Annual Report on Form 10-K filed with the SEC
on March 26, 2024 and subsequent
Quarterly Reports on Form 10-Q filed with the SEC, which are
available at www.sec.gov and with the Canadian securities
regulators, which are available at www.sedar.com. Except as
required by law, Perpetua Resources does not assume any obligation
to release publicly any revisions to Forward-Looking Information
contained in this news release to reflect events or circumstances
after the date hereof or to reflect the occurrence of unanticipated
events.
View original
content:https://www.prnewswire.com/news-releases/perpetua-resources-announces-third-quarter-2024-and-recent-highlights-302305580.html
SOURCE Perpetua Resources Corp.