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Perpetua Resources Announces Second Quarter 2026 Financial Results
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BOISE, Idaho, Aug. 17, 2026 /CNW/ — Perpetua Resources Corp. (Nasdaq: PPTA) (TSX: PPTA) (“Perpetua Resources” or “Perpetua” or the “Company”) announced the filing of its unaudited condensed consolidated financial results for the period ended June 30, 2026. For details, please see the Company’s filings available on EDGAR and SEDAR+.
Perpetua Resources’ vision is to provide the U.S. with a domestic source of the critical mineral antimony while developing one of the largest and highest-grade open pit gold mines in the Americas and restoring an abandoned brownfield site. The Company is currently advancing a comprehensive project financing plan along with detailed engineering, long-lead time procurement, early works and critical path construction activities and execution planning in anticipation of a final investment and construction decision in the second half of 2026.
“Significant milestones were achieved at Perpetua in Q2 2026,” said Jon Cherry, President and CEO of Perpetua Resources. “The unanimous approval by the U.S. EXIM board of our $2.9 billion senior secured loan has laid the foundation for Stibnite’s future construction, and combined with our $574.2 million cash position at quarter-end, positions us well as we advance toward a final investment and construction decision in the second half of the year. We continue to work through definitive documentation and anticipate closing this facility later this year. Other key developments included the commencement of Burntlog Route upgrades, continuing work on the worker housing and administrative facilities and other site locations, ongoing deliveries of worker housing facility units to site and the continuation of exploration activities. The benefits of exploration remain abundantly clear as our short winter drill program delivered promising results and demonstrated that significant opportunity remains for resource conversion at Stibnite.”
Second Quarter 2026 and Recent Highlights
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Reported a net loss of $97.5 million for the second quarter of 2026 (six months ended June 30, 2026: $146.2 million), compared to a net loss of $6.0 million (six months: $14.2 million) in the prior year period, primarily driven by higher exploration and pre-development spending ahead of a final investment and construction decision; ended the quarter with $574.2 million in unrestricted cash and cash equivalents and $60.9 million in restricted cash equivalents.
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Zero lost time incidents or reportable environmental spills.
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On April 10, 2026, the Idaho Department of Environmental Quality issued its final modified Clean Water Act Section 401 Water Quality Certification for the Project.
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On May 21, 2026, the board of the Export-Import Bank of the United States (“EXIM”) unanimously approved a $2.9 billion senior secured long-term loan under the Make More in America Initiative to support the development of the Company’s 100%-owned Stibnite Gold Project.
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On May 29, 2026, the United States District Court of Idaho denied a motion for a preliminary injunction filed by the plaintiffs in a related lawsuit initiated in 2025 by special interest groups challenging, among other things, the USFS Record of Decision approving the Project. In the decision, the District Court found that the plaintiffs failed to show that the planned activities challenged by the plaintiffs would cause irreparable harm or would likely violate any applicable law as asserted by the plaintiffs in their legal claims. The plaintiffs subsequently filed an appeal with the U.S. Court of Appeals for the Ninth Circuit of the District Court’s order denying the motion for a preliminary injunction, and they also requested an emergency stay of the District Court’s order. The Ninth Circuit on June 17, 2026 denied the stay request. The appeal remains pending.
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On May 30, 2026, the Company commenced additional critical path construction activities for the 2026 field season, including initial work associated with the Burntlog Route, a key infrastructure project designed to support safe and efficient access to the Project site while minimizing impacts to nearby communities and sensitive environmental areas. Other critical path construction activities also commenced on May 30th, including new work relating to the worker housing and administrative facilities at the mine site.
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On July 7, 2026, an Idaho state district court upheld the air permit to construct for the Project that was the subject of a judicial appeal filed by certain petitioners that had contested the permit in state administrative proceedings. The state court rejected all claims by the petitioners challenging the air permit issued by Idaho Department of Environmental Quality (IDEQ) for the Project.
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In July 2026, the Company announced commissioning of a mobile modular processing plant in partnership with Idaho National Laboratory to conduct pilot-scale testing of the plant, which is designed to advance development of a secure domestic supply chain for antimony trisulfide.
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On August 6, 2026, the Company reported new high-grade gold and antimony discoveries and identification of a new gold-tungsten zone in the Company’s ongoing exploration program.
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In H1 2026, Perpetua identified U.S. government-sponsored tungsten initiatives and submitted grant funding proposals to advance tungsten drilling, sampling, metallurgical analysis, and resource evaluation. There is no assurance the Company will secure funding or identify economically accessible tungsten, but Perpetua believes its broader claim package positions it to help the U.S. government secure a second critical mineral, alongside antimony, from the Stibnite district; any tungsten development would require separate environmental review and permitting outside the current Project’s scope.
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During July and August 2026, the Company purchased put option contracts to protect the Company’s exposure to fluctuations in metal prices. In total, the Company paid premiums of $28.9 million for the right, but not an obligation, to sell a total of up to 158,016 ounces of gold during 2031 at an established put strike price of $3,000 per ounce. The put structure of the contracts allows Perpetua to retain full exposure to gold prices above $3,000 per ounce while mitigating downside exposure.
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Published the Company’s 2025 Sustainability Report, its thirteenth annual sustainability report.
