Perpetua Resources secures potential $1.8 Billion financing from Export-Import Bank of the United States for Stibnite Gold Project

Perpetua Resources Corp received a Letter of Interest ("LI") from the Export-Import Bank of the United States ("EXIM") for potential debt financing of up to $1.8 billion through EXIM's "Make More in America" initiative and the "China and Transformational Exports Program" (CTEP).

EXIM's communication to Perpetua expresses support for their proposed capital funding plan for the Stibnite-Gold Project. The Letter of Interest indicates potential financing of up to $1.8 billion under EXIM's Make More in America initiative, with a repayment tenor of 15 years. 

Perpetua's President and CEO, Jon Cherry, highlights a collaborative effort across government agencies to revitalize domestic antimony production, citing EXIM's potential financing and Department of Defense awards. The transaction may also receive special consideration under EXIM's CTEP initiative due to China's dominance in global antimony production.

The company, plans to formally apply to EXIM in 2024, with final commitment subject to due diligence and compliance with EXIM's criteria. The project's financing and implementation will align with EXIM policies and regulatory requirements, including the ongoing National Environmental Policy Act process.

Antimony trisulfide, crucial for national defense and clean energy technologies, currently lacks domestic supply. Perpetua's Stibnite Gold Project aims to fill this gap by establishing a U.S. source of antimony while restoring the historical mining site.