In after-hours trading on Thursday, Perpetua Resources Corp. (PPTA) shares fell -8.57% to $ 5.23. PPTA stock gained 1.06% to close the close the regular session at $5.72. The PPTA stock volume remained at 86054.0 shares, which was lower than the average daily volume of 0.18 million shares within the past 50 days.
In the past 12 months, PPTA stock has fallen -52.33%, and it gained 5.54% this week. PPTA stock has lost -26.67% over the past three months, and -23.89% over the past six months. Additionally, PPTA has a market cap of $369.86 million and an average number of outstanding shares of 47.55 million. PPTA’s stock plummeted after launching a common stock offering.
How will PPTA Stock offer its shares?
As part of the Stibnite Gold Project, Perpetua, through its wholly owned subsidiaries, are exploring, restoring, and developing gold-antimonite-silver deposits within the Stibnite-Yellow Pine district of central Idaho. It is a high-grade, open pit gold deposit and the only mined source of antimony in the United States. The Project follows an environmentally responsible, modern mining approach to restore an abandoned mine site and deliver gold and antimony to the broader market.
PPTA plans to use the nation’s lowest carbon emissions grid to power the Project and to supply a portion of the antimony it produces to Ambri, a company focused on making low-cost, liquid metal batteries that support low-carbon energy transition. PPTA’s commitment to transparency, accountability, environmental stewardship, safety, and community engagement were joined by formal environmental, social, and governance commitments from Perpetua Resources.
Perpetua Resources announced today that it will offer shares of its common stock in the United States and Canada through a marketed public offering. By underwriting the sale of the Common Shares, PPTA will assign BRiley Securities, Inc. and Cantor Fitzgerald Canada Corporation (collectively, “Underwriters”) the responsibility of joint book-running. There are market and other conditions associated with the Offering, and the final price and sizes are determined following the execution of the underwriting agreement (the “Underwriting Agreement”).
As part of the Underwriting Agreement, PPTA will grant the Underwriters an over-allotment option that allows them to purchase up to a further 15% of the Common Shares the Underwriters will be selling under the Offering within 30 days after the date of the Underwriting Agreement. PPTA anticipates using the net proceeds of the Offering for permitting, early restoration and field operations, engineering and design at Stibnite Gold Project, and for general corporate purposes.
PPTA’s initiative to decarbonize:
As part of an agreement inked this week, Perpetua Resources (PPTA) will provide a portion of antimony production from the Stibnite Gold Project to Ambri Inc. In signing the agreement, PPTA is setting up a foundation to facilitate the decarbonization of the US and worldwide energy grids. Perpetua (PPTA) will provide antimony to Ambri through their Stibnite Gold Project, which is located in central Idaho, the only place to mine for the critical mineral in the United States.
