Perpetua Resources appoints Mark Murchison as new CFO

BOISE, Idaho - Perpetua Resources Corp. (Nasdaq:PPTA) (TSX:PPTA), whose shares have surged over 118% in the past year to reach a market capitalization of $2.17 billion, announced Wednesday that Mark Murchison has been appointed as Chief Financial Officer, effective October 1, 2025, succeeding Jessica Largent who is stepping down from the role and board of directors. According to InvestingPro data, the company maintains a strong balance sheet with more cash than debt.

Murchison brings over 25 years of experience in metals and mining, including seven years as CFO of Alacer Gold and 12 years in financial leadership roles at Rio Tinto. He most recently served as Chief Financial Officer at US Vanadium, a private vanadium producer based in Arkansas.

During his tenure at Alacer Gold, Murchison managed capital allocation for a $750-million autoclave expansion project and helped deliver a total shareholder return exceeding 300%, culminating in Alacer’s merger with SSR Mining.

Largent, who raised over $650 million in equity, royalty, and Department of War grant funding during her tenure, will remain as an advisor to the new CFO through the end of 2025 to support the transition and ongoing project financing efforts.

"We are extremely grateful for Jessica’s thoughtful leadership as Perpetua worked through the permitting process and prepared for construction," said President and CEO Jon Cherry in the press release statement.

Perpetua Resources is developing the Stibnite Gold Project and has initiated an application for up to $2.0 billion in project financing from the Export-Import Bank of the United States. The company expects early works construction to commence this fall after posting financial assurance. While InvestingPro analysis indicates the company isn’t yet profitable, analysts have set price targets ranging from $21 to $30, suggesting potential upside. Get access to 8 more exclusive InvestingPro Tips and comprehensive financial metrics to make informed investment decisions.

The management change comes as Perpetua prepares to transition from the permitting phase to construction, with full construction anticipated to begin in 2026. With a current ratio of 71.11, the company maintains strong liquidity to support its development plans, though InvestingPro analysis suggests the stock is trading slightly above its Fair Value.

In other recent news, Perpetua Resources Corp. announced it has received a conditional Notice to Proceed from the U.S. Forest Service for its Stibnite Gold Project. This notice confirms that all necessary requirements have been met, allowing construction to commence once the required financial assurance bonding is posted. Additionally, Perpetua Resources has received a preliminary financing term sheet from the Export-Import Bank of the United States (EXIM) for potential $2 billion debt financing for the project. The company is working with EXIM to advance through the bank’s due diligence and loan application process. Furthermore, Perpetua plans to issue a Request for Proposal to explore partnerships for processing antimony from its Stibnite Gold Project. This initiative is separate from the company’s collaboration with the U.S. Army to secure military-grade antimony trisulfide. In analyst updates, H.C. Wainwright has reiterated its Buy rating on Perpetua Resources stock with a price target of $30, following the conditional approval for the Stibnite Gold Project.

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