Perpetua Resources Corp (NASDAQ:PPTA) shares are surging in extended trading Thursday after the company secured a long-term loan under the Make More in America Initiative.
- Perpetua Resources shares are climbing with conviction. Why is PPTA stock up today?
Perpetua Resources Lands Landmark Loan
Perpetua Resources announced that the board of the Export-Import Bank of the United States has unanimously approved a $2.9 billion senior secured loan aimed at supporting the development of the company’s Stibnite Gold Project.
The move comes at the U.S. looks to strengthen its industrial manufacturing supply chains, domestic job support and critical mineral independence. The Stibnite Gold Project is now set to develop the only domestic reserve of antimony.
“It is time to make more in America and today marks not only a key milestone for Perpetua Resources, but a significant step in mineral security for our country,” said Jon Cherry, president and CEO of Perpetua Resources.
“We are immensely proud of our role in strengthening America’s national security, creating hundreds of jobs in rural Idaho, and reducing our dependence on foreign adversaries for a mineral we cannot do without.”
The loan will be available upon completion of definitive documentation expected to take place in the second half of 2026, and is structured as a 13-year senior secured credit facility of $2.9 billion. Perpetua expects the loan, combined with cash on hand, to fully fund the construction of the project.
PPTA Shares Surge After The Bell
PPTA Stock Price: Perpetua shares were up 13.77% in after-hours, trading at $30.40 at the time of publication on Thursday, according to Benzinga Pro.
Image: Shutterstock.com
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