Perpetua Resources Corp. (NASDAQ: PPTA) experienced a significant uptick of 32.14% in its share value, witnessing a surge to $6.29 during the preceding trading session. This upward trajectory coincided with the revelation of a substantial potential financial endeavor.

Perpetua Resources (PPTA) has received a Letter of Interest (LI) from the Export-Import Bank of the United States (EXIM). Under EXIM's "Make More in America" and "China and Transformational Export Program" (CTEP), the LI outlined the possibility of borrowing up to $1.8 billion in debt financing.

Perpetua Resources is presently observing a comprehensive governmental initiative aimed at reinstating domestic antimony production. With EXIM's potential financing and significant financial awards from the Department of Defense, there is a clear recognition of the urgent need for domestic antimony production by the company.

The proposed EXIM debt funding could cover a substantial portion of the estimated expenses for constructing the Stibnite Gold Project. Perpetua Resources anticipates submitting a formal application to EXIM in 2024. Upon receipt of such an application, EXIM will undertake the necessary due diligence to assess the feasibility of issuing a final commitment.

However, any such commitment will be contingent upon meeting EXIM's underwriting criteria, completing the authorization process, and satisfying all terms and conditions. Moreover, all final commitments must adhere to EXIM policies and fulfill program, legal, and eligibility requirements, including the completion of the ongoing National Environmental Policy Act process, expected to conclude by year's end.

Antimony trisulfide holds paramount importance in national defense, serving as a crucial element in munitions and various clean energy technology applications. Despite its significance, there is currently no domestic supply of mined antimony. A total of 90% of the global supply chain for antimony is controlled by China, Russia, and Tajikistan.

Perpetua Resources' proposed Stibnite Gold Project aims to reintroduce a U.S. source of the critical mineral antimony, utilizing it as a by-product of one of the highest-grade open-pit gold resources in the nation while simultaneously undertaking environmental restoration efforts at the historical mining site.