Perpetua to issue RFP for antimony processing partnerships

BOISE - Perpetua Resources Corp. (NASDAQ:PPTA) (TSX:PPTA), whose stock has surged nearly 74% over the past six months according to InvestingPro data, announced Friday it will issue a Request for Proposal to evaluate potential partners for processing antimony from its Stibnite Gold Project in Idaho.

The company plans to assess third-party processing facilities to handle the portion of its 148-million-pound antimony reserve designated for commercial purposes. This initiative is separate from Perpetua’s ongoing work with the U.S. Army, for which it received up to $22.4 million under an Ordnance Technology Initiative Agreement to secure domestic supply of military-grade antimony trisulfide. With an exceptional current ratio of 71.11 and minimal debt, InvestingPro data shows the company is well-positioned to execute its strategic initiatives.

"America needs a secure and robust supply of antimony," said Jon Cherry, President and CEO of Perpetua Resources in the press release. "It is now time we also respond to the needs of the U.S. manufacturing and industrial sectors."

The company has already engaged in discussions with several parties including Clarios, Glencore, Nyrstar, Sunshine Silver and Trafigura. The RFP will evaluate potential partners based on production capacity, capitalization, environmental track record, and ability to meet market needs.

Perpetua intends to issue the RFP in the coming weeks with final selection expected in the fourth quarter of 2025.

The Stibnite Gold Project represents the only domestic reserve of antimony in the United States. The company recently received a conditional Notice to Proceed from the U.S. Forest Service for the project, which is designed to produce gold while also providing the only mined source of antimony in the United States. Analysts tracked by InvestingPro maintain bullish price targets ranging from $21 to $30, reflecting confidence in the project’s potential. InvestingPro subscribers can access 10+ additional insights about PPTA’s financial health and market performance.

In other recent news, Perpetua Resources has received a conditional Notice to Proceed from the U.S. Forest Service for its Stibnite Gold Project. This approval indicates that the project has met all requirements set forth in the January 2025 Record of Decision, allowing construction to commence once the company secures the necessary financial assurance bonding. The joint financial assurance package involves the U.S. Forest Service, Idaho Department of Lands, and the U.S. Army Corps of Engineers. Additionally, Perpetua Resources announced it has received a preliminary, non-binding indicative financing term sheet from the Export-Import Bank of the United States (EXIM) for $2 billion in potential debt financing. This term sheet is part of EXIM’s initial due diligence findings on the Stibnite Gold Project. The company is working with EXIM to progress through the subsequent stages of the loan application process, with final board consideration expected by spring 2026. Furthermore, H.C. Wainwright has reiterated its Buy rating on Perpetua Resources stock with a price target of $30. These developments mark significant progress for the company in advancing its Stibnite Gold Project.

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