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Yahoo
19-06-2025
- Business
- Yahoo
Perpetua Resources closes $425m financing to fund Stibnite Gold Project
Perpetua Resources has closed an upsized public offering and a private placement, raising $425m in financing to advance the Stibnite Gold Project in the US. The company announced the closure of its upsized $325m public offering of 24,622,000 common shares at $13.20 each. Concurrently, a $100m private placement of 7,575,757 common shares to Paulson & Co. was also completed. National Bank of Canada Financial Markets and BMO Capital Markets served as the joint lead bookrunning managers for the offering. This financing is in conjunction with an application for up to $2bn in project financing from the Export-Import Bank of the United States (EXIM), submitted in May 2025. The funds will contribute to equity requirements for the EXIM debt financing, with additional funds supporting exploration, working capital and general corporate purposes. The due diligence on the EXIM application is ongoing, with the debt financing's closure anticipated in 2026. If successful, the financing will cover the project's construction costs of $2.2bn, along with additional funds for cost overruns, debt service and working capital. Furthermore, Perpetua is in advanced discussions regarding financial assurances for reclamation bonds. The company is seeking a $155m guarantee and indemnification, alongside proceeds of $200m–250m, in exchange for a gold net smelter return royalty or a gold stream. This arrangement is expected to be finalised in summer 2025 and will enable the company to meet financial assurance conditions for federal and state permits. Additionally, the underwriters have been granted an option to purchase up to an additional 3,693,300 common shares, which could increase the aggregate gross proceeds of the offering to approximately $374m if exercised in full. "Perpetua Resources closes $425m financing to fund Stibnite Gold Project" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
16-06-2025
- Business
- Globe and Mail
Perpetua Resources Closes US$425 Million Financing as part of Comprehensive Financing Package for Stibnite Gold Project
BOISE, Idaho, June 16, 2025 /CNW/ - Perpetua Resources Corp. (Nasdaq: PPTA) (TSX: PPTA) ("Perpetua Resources" or "Perpetua" or the "Company") announced today that it has closed its previously announced upsized US$325 million public offering of 24,622,000 common shares, no par value, of the Company (the "Common Shares") at a price of US$13.20 per Common Share (the "Offering"). Concurrently with the closing of the Offering, the Company closed its US$100 million private placement of 7,575,757 Common Shares to Paulson & Co. Inc. (the "Private Placement").
