At the same time, the company completed a US$100 million private placement of 7,575,757 common shares to Paulson & Co. Inc., a long-standing strategic investor

Perpetua intends to use the proceeds from both the public offering and the private placement to support the development of its flagship Stibnite Gold Project in Idaho

Perpetua Resources stock (TSX:PPTA) last traded at C$2.41

Perpetua Resources (TSX:PPTA) has successfully closed its upsized public offering of 24,622,000 common shares, raising gross proceeds of approximately US$325 million at a price of US$13.20 per share. At the same time, the company completed a US$100 million private placement of 7,575,757 common shares to Paulson & Co. Inc., a long-standing strategic investor.

The public offering was led by National Bank of Canada Financial Markets and BMO Capital Markets as joint lead bookrunning managers. RBC Capital Markets and Cantor Fitzgerald & Co. served as joint bookrunning managers, with B. Riley Securities, CIBC Capital Markets, H.C. Wainwright & Co., Roth Capital Partners, and Scotiabank acting as co-managers.

Perpetua intends to use the proceeds from both the public offering and the private placement to support the development of its flagship Stibnite Gold Project in Idaho. The funds will contribute toward equity requirements for a previously announced application for up to US$2 billion in project financing from the Export-Import Bank of the United States (EXIM), submitted in May 2025. Additional proceeds will be allocated to exploration, working capital, and general corporate purposes.

In a media statement, the company noted that EXIM’s due diligence process is ongoing, with a potential debt financing close anticipated in 2026. If successful, the combined equity and debt financing, along with a proposed royalty or streaming agreement, is expected to fully fund the estimated US$2.2 billion construction cost of the Stibnite Gold Project.

Perpetua is also in advanced negotiations to secure a US$155 million guarantee and indemnification to meet reclamation bonding requirements. In exchange, the company is considering issuing a gold net smelter return (NSR) royalty of up to 3.9% or a gold stream, with potential buyback provisions. This financial assurance is expected to satisfy federal and state permitting conditions and enable construction to begin later in 2025.

The underwriters have also been granted a 30-day option to purchase up to an additional 3,693,300 common shares, which could increase the gross proceeds of the offering to approximately US$374 million if fully exercised.

Perpetua Resources explores, restores and redevelops gold-antimony-silver deposits in the Stibnite-Yellow Pine district of central Idaho.

Perpetua Resources stock (TSX:PPTA) last traded at C$2.41 and has risen 14.65 per cent since the year began and has also grown 86.94 per cent since time last year.

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