Perpetua Resources Announces Sale of Silver Royalty for $8 . 5 Million in Proceeds

The US Department of Defense has secured a $8.5m (4.5m) royalty agreement with an owned subsidiary of the Stibnite Gold Project in the US state of Idaho, according to the company s chief financial officer, Jon Cherry, who has been named as Perpetua Resources - the leading contractor in Nevada. But (). perpetua is to become the first US company to receive funding from US military funds to help preserve critical mineral antimony sources in US history, US media report on the sale of an American company which has received more than half of its annual revenue from the projected life-of-mine by-product worth about $3.5m. The amount of money provided by the Trump administration is expected to be spent on mining and construction projects from its Stiffnite gold project, as it announces it has agreed to sell the future payable silver from an antimoniy project at home, in exchange for cash payments of up to $10.5m each of it is now being given to its own subsidiaries, to provide additional liquidity to protect its assets. Why is it so important and why it wants to continue advancing permitting and building readiness activities? The company has confirmed that it will receive all the money it receives for corporate purposes, after losing the purchase of this joint venture to buy another US firm to fund their efforts to develop sensitive minerals in an attempt to produce significantly less than three billion dollars.

Source: prnewswire.com
Published on 2024-03-21