FINWIRES · TerminalLIVE
FINWIRES

Perpetua Resources Shares Jump 14% After EXIM Approves US$2.9 Billion Loan for Stibnite Gold Project

By

Perpetua Resources (PPTA.TO), up 14% in Nasdaq after-hours trade, said Thursday the Export-Import Bank of the United States approved a US$2.9 billion senior secured long-term loan to support the development of its Stibnite Gold Project in Idaho.

The company said the loan was unanimously approved by EXIM's board under the Make More in America Initiative following technical, financial, environmental and social due diligence, as well as a 25-day congressional notification period.

"When the federal government and private industry work together on a shared national priority, big things are made possible. 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," said chief executive Jon Cherry.

The loan will be available upon completion of definitive documentation and satisfaction of customary conditions precedent, which is expected to occur in the second half of 2026. The loan is to be structured as a 13-year senior secured credit facility of US$2.9 billion, consisting of an upfront facility of US$2.4 billion with the remainder to cover capitalized interest during construction and EXIM's exposure fee.

PPTA's shares were at last look up US$3.68 at US$30.40, after closing down C$0.99 at C$36.82 on Toronto Stock Exchange.

Related Articles

Treasury

ValOre Metals Brief: Raising C$2 Million in a Non-Brokered Private Placement of Convertible Unsecured Debentures

$VO.V
Treasury

Osisko Development Down 15% After Hours as it Seeks US$275.0 Mln in a Convertible Senior Notes Offering

Osisko Development (ODV.V, ODV), was last seen down 15% in after-hours New York trading, after the company on Wednesday said it will raise US$275 million in an private-placement offering of convertible senior notes due 2031.The company did not specify the interest rates the notes will carry or the conversion price of shares.The company said it intends to grant the initial purchasers of the notes an option to purchase, during a 13-day period beginning on, and including, the date on which the notes are first issued, up to an additional US$25.0 million aggregate principal amount of notes.Double Zero Capital, LP, an affiliate of the company, indicated an interest in purchasing up to US$50.0 million aggregate principal amount of notes in a separate concurrent private placement under Section 4(a)(2) of the Securities Act. The affiliate notes are expected to be sold at the same price, and constitute part of the same series, as the notes.The company expects to use the offering proceeds and the sale of the affiliate notes to pay the cost of the capped call transactions with certain financial institutions, for development of the Cariboo Gold Project, and for general corporate purposes.Company's shares dropped US$0.44 at last look to US$2.50 after hours, after closing up C$0.13 at C$4.00 on TSX Venture Exchange on Wednesday.

$ODV$ODV.V
Treasury

Osisko Development Plans Convertible Notes Offering

Osisko Development Corp (ODV) said late Wednesday it plans to offer $225 million of convertible senior notes due 2031 in a private placement.The company said it intends to grant initial purchasers an option to purchase up to an additional $25.0 million of the notes.Double Zero Capital, an affiliate of Osisko, has indicated an interest in buying up to $50.0 million of the notes in a separate concurrent private placement, it said.The firm said net proceeds will be used among others for Cariboo Gold Project development and general corporate purposes.

$ODV