Perpetua Resources Announces Second Quarter 2024 and Recent Highlights
Perpetua Resources (Nasdaq: PPTA) announced key highlights for Q2 2024 and recent developments. The company, focused on advancing the Stibnite Gold Project in Idaho, reported zero lost time incidents and no environmental spills. Notably, Perpetua secured $34.4 million in additional funding through a modified Technology Investment Agreement under the Defense Production Act and received an indication for up to $1.8 billion in financing from the Export-Import Bank of the United States.
The company anticipates the publication of a Final Environmental Impact Statement (FEIS) and Draft Record of Decision in Q3 2024, with a Final Record of Decision expected in Q4 2024. Perpetua continues to progress on ancillary permits and construction readiness activities, including appointing new leadership, executing contracts, and advancing engineering work.
Perpetua Resources (Nasdaq: PPTA) ha annunciato i principali risultati per il secondo trimestre 2024 e gli sviluppi recenti. L'azienda, focalizzata sull'avanzamento del Stibnite Gold Project in Idaho, ha riportato zero incidenti di tempo perso e nessuna fuoriuscita ambientale. In particolare, Perpetua ha ottenuto 34,4 milioni di dollari in finanziamenti aggiuntivi tramite un Accordo di Investimento Tecnologico modificato ai sensi del Defense Production Act e ha ricevuto un'indicazione per un finanziamento fino a 1,8 miliardi di dollari dalla Export-Import Bank degli Stati Uniti.
L'azienda prevede la pubblicazione di un Dichiarazione di Impatto Ambientale Finale (FEIS) e di una Bozza di Decisione in terzo trimestre 2024, con una Decisione Finale attesa nel quarto trimestre 2024. Perpetua continua a progredire su permessi secondari e attività di preparazione alla costruzione, inclusa la nomina di nuove figure dirigenziali, l'esecuzione di contratti e l'avanzamento del lavoro ingegneristico.
Perpetua Resources (Nasdaq: PPTA) anunció los aspectos más destacados del segundo trimestre de 2024 y desarrollos recientes. La compañía, centrada en avanzar en el Stibnite Gold Project en Idaho, reportó cero incidentes de tiempo perdido y ninguna fuga ambiental. Notablemente, Perpetua aseguró 34,4 millones de dólares en financiamiento adicional a través de un Acuerdo Modificado de Inversión Tecnológica en virtud de la Ley de Producción de Defensa y recibió una indicación de hasta 1,8 mil millones de dólares en financiamiento del Export-Import Bank de los Estados Unidos.
La empresa anticipa la publicación de una Declaración de Impacto Ambiental Final (FEIS) y un Borrador de Registro de Decisión en el tercer trimestre de 2024, con un Registro de Decisión Final esperado en el cuarto trimestre de 2024. Perpetua continúa avanzando en permisos auxiliares y actividades de preparación de construcción, incluyendo la designación de nuevos líderes, la ejecución de contratos y el avance del trabajo de ingeniería.
Perpetua Resources (Nasdaq: PPTA)는 2024년 2분기의 주요 성과와 최근 발전 사항을 발표했습니다. 이 회사는 아이다호의 Stibnite Gold Project를 추진하는 데 집중하고 있으며, 잃은 시간 사고가 없고 환경 오염 사고도 없다고 보고했습니다. 특히, Perpetua는 국방 생산법에 따른 수정된 기술 투자 계약을 통해 3,440만 달러의 추가 자금을 확보하였고, 미국 수출입은행으로부터 최대 18억 달러의 자금을 확보할 수 있다는 신호를 받았습니다.
회사는 2024년 3분기에 최종 환경 영향 성명서(FEIS) 및 초안 결정 기록서를 발표할 예정이며, 2024년 4분기에는 최종 결정 기록서를 발표할 것으로 예상하고 있습니다. Perpetua는 새로운 리더십 임명, 계약 체결 및 엔지니어링 작업 진행을 포함하여 부수적인 허가 및 건설 준비 작업을 계속 추진하고 있습니다.
Perpetua Resources (Nasdaq: PPTA) a annoncé les points saillants de son deuxième trimestre 2024 ainsi que des développements récents. L'entreprise, axée sur l'avancement du Stibnite Gold Project dans l'Idaho, a déclaré zéro incident de temps perdu et aucune fuite environnementale. Notamment, Perpetua a sécurisé 34,4 millions de dollars de financement supplémentaire grâce à un Accord de Financement Technologique modifié en vertu de la Loi sur la production de défense et a reçu une indication de financement allant jusqu'à 1,8 milliard de dollars de la Banque d'exportation et d'importation des États-Unis.
L'entreprise anticipe la publication d'une Déclaration d'Impact Environnemental Finale (FEIS) et d'un Projet de Document de Décision au troisième trimestre 2024, avec une Décision Finale attendue au quatrième trimestre 2024. Perpetua continue d'avancer sur les permis accessoires et les activités de préparation à la construction, y compris la nomination de nouvelles directions, l'exécution de contrats et l'avancement des travaux d'ingénierie.
Perpetua Resources (Nasdaq: PPTA) hat wichtige Höhepunkte für das zweite Quartal 2024 sowie aktuelle Entwicklungen bekannt gegeben. Das Unternehmen, das sich auf den Fortschritt des Stibnite Gold Project in Idaho konzentriert, berichtete von null verlorenen Arbeitsstunden und keinen Umweltschäden. Besonders hervorzuheben ist, dass Perpetua 34,4 Millionen US-Dollar an zusätzlicher Finanzierung durch einen modifizierten Technologieinvestitionsvertrag im Rahmen des Defense Production Act sicherte und eine Zusage von bis zu 1,8 Milliarden US-Dollar an Finanzierung von der Export-Import Bank der Vereinigten Staaten erhielt.
Das Unternehmen erwartet die Veröffentlichung einer endgültigen Umweltbewertung (FEIS) und eines Entwurfs für die Entscheidung im 3. Quartal 2024, wobei die endgültige Entscheidung im 4. Quartal 2024 erfolgen soll. Perpetua kommt weiterhin bei den Nebengenehmigungen und den Aktivitäten zur Bauvorbereitung voran, darunter die Ernennung neuer Führungskräfte, die Ausführung von Verträgen und den Fortschritt bei Ingenieurarbeiten.
- Secured $34.4 million in additional funding through Defense Production Act
- Received indication for up to $1.8 billion financing from Export-Import Bank of the US
- Zero lost time incidents and no reportable environmental spills
- Final Environmental Impact Statement and Draft Record of Decision expected in Q3 2024
- Appointed new President and CEO, and Vice President of Projects
- Progressed on ancillary permits and construction readiness activities
- Delay in FEIS and Draft Record of Decision publication from Q2 to Q3 2024
Insights
Perpetua Resources' Q2 2024 update reveals significant progress in project financing and permitting for the Stibnite Gold Project. The $34.4 million additional funding through the Defense Production Act and the $1.8 billion financing indication from the Export-Import Bank of the United States are substantial developments. These financial commitments underscore the strategic importance of the project's antimony production for the U.S.
The company's focus on construction readiness, including key appointments and contracts with Ames Construction and Ausenco, indicates a proactive approach to project development. However, investors should note that the Final Record of Decision has been pushed to Q4 2024, which may impact the project timeline. The lack of specific financial figures in this update makes it challenging to assess the company's current financial health.
The Stibnite Gold Project is positioning itself as a strategic asset for the U.S., combining gold production with critical mineral antimony. The project's advancement in permitting, particularly the completion of the U.S. Fish and Wildlife Service review and the Idaho Department of Environmental Quality's 401 Water Quality Certification, are positive indicators for the project's viability.
The appointment of Jonathan Cherry as CEO and the expansion of the project team suggest a strengthening of operational expertise. The engagement of established firms like Ames Construction and Ausenco for various aspects of project development is a prudent move. However, investors should be aware that large-scale mining projects often face challenges in permitting and construction phases, which could affect the timeline and budget.
Perpetua's progress through the NEPA process is noteworthy, with the Final Environmental Impact Statement (FEIS) nearing completion. The company's zero reportable environmental spills and publication of its 11th annual sustainability report demonstrate a commitment to environmental stewardship. However, the complexity of the project, involving restoration of a brownfield site, may present ongoing environmental challenges.
The advancement of ancillary permits, particularly the 404 permit and Compensatory Mitigation Plan, is important for the project's environmental compliance. The final 401 Water Quality Certification from Idaho is a significant milestone. Investors should monitor the outcome of the Endangered Species Act consultation, as it could impact project design and costs. The company's proactive approach to environmental concerns may help mitigate risks, but regulatory scrutiny in mining projects remains high.
Perpetua Resources' vision is to provide the
Second Quarter 2024 Highlights:
- Zero lost time incidents or reportable environmental spills.
- Awarded additional funding of
through modified Technology Investment Agreement ("TIA") under Title III of the Defense Production Act ("DPA").$34.4 million - Received indication for up to
financing from Export-Import Bank of$1.8 billion the United States for the Stibnite Gold Project. - Published 2023 Sustainability Report, the Company's eleventh annual sustainability report.
"Perpetua Resources' progress in the second quarter of 2024 to advance the permitting and construction readiness for the Stibnite Gold Project was further complemented by the
Permitting and Construction Readiness Activities Update:
On January 1, 2024, the United States Forest Service ("USFS") released an updated schedule for the Project that stated the USFS expected to publish a FEIS and a Draft Record of Decision in the second quarter of 2024 and a Final Record of Decision ("ROD") in the fourth quarter of 2024. The USFS has confirmed that cooperating agency review of the FEIS is complete and both documents are completing final consultations and reviews in
Perpetua continued to advance work on several ancillary permits which are being progressed in parallel with the NEPA process. Recent updates include:
- The
U.S. Army Corps of Engineers continues to process the Company's 404 permit application and Compensatory Mitigation Plan after the public comment period ended in October 2023. - The USFS Biological Assessment was deemed acceptable to begin formal Endangered Species Act Section 7 consultation by the
U.S. Fish and Wildlife Service and the National Marine Fisheries Service in April 2024. - In May 2024, Idaho Department of Environmental Quality issued its final 401 Water Quality Certification for the Project.
Perpetua is also advancing construction readiness activities in parallel with the permitting process and these activities are reimbursable under the DPA funding. Recent updates include:
- Appointed mining veteran Jonathan Cherry as new President and CEO,
- Appointed Vice President of Projects to lead the Stibnite Gold Project,
- Executed construction manager general contractor contract with Ames Construction, while advancing constructability reviews, value engineering studies, and detailed engineering for the Burntlog Route, the Company's proposed access route, with Ames and the road design consultants,
- Continued power line detailed scoping and engineering with Idaho Power, who has now engaged Kiewit, and identified long-lead items required for power line construction,
- Ausenco was awarded Basic and Value Engineering Scope for the Stibnite Gold Project,
- Hired key subject matter experts for the Owner's Team to guide Basic Engineering and overall construction readiness, and
- Ausenco and supporting consultants progressed basic and value engineering for their respective work streams.
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
Forward-Looking Information and Cautionary Note
Investors should be aware that the 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. Investors should also be aware that the publication of the permitting schedule does not indicate any commitments on the part of the USFS regarding the content or timing of a final decision. In developing the FEIS, the USFS may select an action based on components of each of the alternatives analyzed in the SDEIS. Furthermore, the USFS is not bound by the permitting schedule and anticipated milestones may be delayed materially or not be satisfied.
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 possible events, next steps and courses of action including our plans to submit a financing application to EXIM; the prospects of successfully securing financing from EXIM on acceptable terms, or at all; the expected timing of, and benefits to the Stibnite Gold Project of, securing such financing from EXIM; environmental clean up actions by us and our contractors; ongoing funding and anticipated liquidity; our ability to comply with and obtain permits related to the Stibnite Gold Project; actions to be taken by the Department of Defense, USFS, the
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SOURCE Perpetua Resources Corp.
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