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Investing.com -- Perpetua Resources Corp (NASDAQ:PPTA) stock surged 4.3% in premarket trading Monday after the company announced it has secured $255 million in equity investments from Agnico Eagle Mines Limited and JPMorganChase.
The funding comes shortly after Perpetua broke ground on its Stibnite Gold Project in central Idaho. Agnico Eagle, the world’s second largest gold producer, will invest $180 million for a 6.5% equity stake, while JPMorganChase will contribute $75 million for a 2.7% stake. Both investors will also receive warrants to purchase additional shares at premium prices over the next three years.
The Private Placement was priced at $23.30 per common share, matching Perpetua’s closing price on Nasdaq last Friday. The company plans to use the proceeds, along with cash on hand and anticipated funding from a previously announced application for up to $2 billion in project financing from the Export-Import Bank of the United States, to develop the Stibnite Gold Project.
"The investments from Agnico Eagle and JPMorganChase are a vote of confidence in the Stibnite Gold Project and America’s critical mineral strategy," said Jon Cherry, President and CEO of Perpetua Resources.
The Stibnite Gold Project is expected to produce the only domestic reserve of antimony, a critical mineral, while becoming one of the highest-grade gold producers in the United States. The project also aims to provide environmental restoration to an abandoned mine site.
As part of the investment, Agnico Eagle and Perpetua plan to form a joint technical and exploration advisory committee. JPMorganChase’s investment represents the inaugural investment of its $1.5 trillion Security and Resiliency Initiative, a 10-year effort to support industries critical to national economic security.
The Private Placement is expected to close on or about October 28, 2025, subject to customary closing conditions.
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