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Perpetua Resources Corp. (PPTA-16.88%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing includes financial statements indicating a net loss of $14.5 million for the year, compared to a net loss of $18.8 million in the previous year. The decrease in net loss is primarily due to increased grant income and a decrease in settlement expenses.
Perpetua Resources reported exploration expenses of $45.3 million, up from $29.9 million in 2023, reflecting increased engineering and labor costs related to the Stibnite Gold Project.
The company received $37.4 million in grant income, up from $21.1 million in 2023, primarily from the U.S. Department of Defense for environmental and engineering studies.
As of December 31, 2024, Perpetua Resources had cash and cash equivalents totaling $44.1 million. The company anticipates needing additional financing by the third quarter of 2025 to continue its operations and advance the construction readiness of the Stibnite Gold Project.
Perpetua Resources is focused on advancing the Stibnite Gold Project, including obtaining the final permits and securing project financing. The U.S. Forest Service issued the Final Record of Decision for the project on January 3, 2025.
The company has engaged RBC Capital Markets and Endeavour Financial to explore strategic and financing opportunities, including a potential $1.8 billion financing from the Export-Import Bank of the United States.
Perpetua Resources continues to face legal challenges, including a lawsuit filed by environmental groups seeking to vacate the project's Record of Decision and related approvals.
The company plans to make a construction decision for the Stibnite Gold Project in 2025, contingent on securing necessary financing and permits.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Perpetua Resources Corp. annual 10-K report dated March 19, 2025. To report an error, please email earnings@qz.com.