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Perpetua Resources Announces Sale of Silver Royalty for $8.5 Million in Proceeds
Perpetua Resources Announces Sale of Silver Royalty for $8.5 Million in Proceeds Canada...
About this update from Perpetua Resources Corp.
[{"type":"text","content":"\n \n \n \n Perpetua Resources Announces Sale of Silver Royalty for $8.5 Million in Proceeds\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n Silver royalty proceeds complement the funding Perpetua has received through the Department of Defense to continue advancing permitting and construction readiness activities.\n \n \n \n \n Silver represents less than 0.3% of projected life-of-mine revenue in the 2020 Feasibility Study\n \n \n \n \n \n BOISE, Idaho\n \n \n ,\n \n \n March 21, 2024\n \n \n /CNW/ - Perpetua Resources Corp. (Nasdaq: PPTA) (TSX: PPTA) (\"Perpetua Resources\" or \"Perpetua\" or the \"Company\") announced today that it entered into a Royalty Agreement (the \"Agreement\") with a wholly-owned subsidiary of Franco-Nevada Corporation (\"Franco-Nevada\") pursuant to which Perpetua, through its subsidiaries, sold Franco-Nevada a royalty (\"royalty\") on the future payable silver production from the Stibnite Gold Project in exchange for a cash payment of\n \n $8.5 million\n \n (the \"upfront payment\").\n \n \n \"This transaction allows Perpetua to monetize a non-strategic by-product from the Stibnite Gold Project and enhance our liquidity to cover a majority of our near-term priorities that are not covered by the funding we've received from the Department of Defense to advance permitting and construction readiness,\" said\n \n Jon Cherry\n \n , President and CEO of Perpetua Resources. \"Establishing a domestic source of the critical mineral antimony is more important than ever, and we stand ready to responsibly produce critical resources here at home and help strengthen America's national and economic security.\"\n \n \n \n Highlights of the transaction:\n \n \n \n \n \n $8.5 million\n \n upfront cash payment to Perpetua upon closing of the transaction\n \n \n Franco-\n \n Nevada\n \n will receive all of the payable silver by-product revenue over the life-of-mine, subject to the terms of the Agreement\n \n \n Silver represents less than 0.3% of projected life-of-mine revenue in the 202...