Perpetua Resources Corp. (NASDAQ:PPTA) announced Thursday that the board of the Export-Import Bank of the United States (EXIM) has unanimously approved a $2.9 billion senior secured long-term loan to support the company's Stibnite Gold Project.
The approval follows technical, financial, environmental, and social due diligence, as well as a 25-day notice period to Congress.
The loan is structured as a 13-year senior secured credit facility, with an initial $2.4 billion upfront facility and the remainder for capitalized interest and EXIM's exposure fee.
The interest rate will be set at the applicable long-dated U.S. Treasury bond rate plus 100 basis points, fixed at the time of first drawdown. Repayments are scheduled to begin in 2030.
Shares have surged 102% over the past year despite a 5% pullback this week, with the stock currently trading below Bond.az's Fair Value estimate, placing it among undervalued mining stocks.
Disbursement of the loan is subject to final documentation and customary conditions, which Perpetua expects to occur in the second half of 2026.
The company's common shares are listed on the Nasdaq Capital Market under the symbol PPTA.
