Perpetua dips on planned stock offering after JP Morgan, Agnico Eagle investments

Perpetua Resources

28/10/2025 21:12

** Shares of antimony and gold miner Perpetua Resources PPTA.O down 1.5% post-market to $25 as it looks to raise equity on the heels of investments from JPMorgan JPM.N and Toronto-based Agnico Eagle AEM.TO

    ** Boise, Idaho-headquartered PPTA launches $70 mln stock offering

    ** AEM has indicated it intends to exercise its pro rata participation right regarding the offering in a concurrent private placement

    ** PPTA expects to use net proceeds from the transactions to fund construction and development of the Stibnite Gold Project in Idaho, and for other purposes

    ** Early Mon, PPTA said it entered an agreement to raise $255 mln in equity investments from AEM ($180 mln) and JPM ($75 mln) to help develop the mine

    ** BMO, National Bank of Canada and RBC are joint bookrunners for the stock offering

    ** PPTA has ~107.65 mln shares outstanding, per LSEG data, for roughly $2.7 bln market cap

    ** PPTA shares on Tues closed up 2.2% at $25.38, up about 138% YTD

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))