Perpetua Resources Corp. (NASDAQ:PPTA) released its third-quarter 2025 financial update on Monday, reporting a wider-than-expected adjusted loss. The company disclosed an adjusted EPS of -$0.24, missing analysts’ projections of -$0.04 by $0.20. Shares were largely unmoved in early pre-market trading, slipping only 0.05% after the announcement.
The developer of the Stibnite Gold Project in Idaho officially began construction on October 21, 2025, shortly after securing a Conditional Notice to Proceed from the U.S. Forest Service in September. The large-scale project is expected to establish a U.S. supply of antimony while advancing one of the region’s biggest open-pit gold operations.
“Perpetua Resources broke ground on the Stibnite Gold Project on October 21, 2025, marking a historical milestone for our stakeholders, the state of Idaho and our nation,” said Jon Cherry, President and CEO of Perpetua Resources. “We are proud to develop one of the most significant gold projects in the United States, which is expected to produce gold along with antimony for our military and industrial base.”
The company also highlighted ongoing progress in securing financing. In September, it received a Preliminary Project Letter and Indicative Term Sheet from U.S. EXIM tied to a potential $2.0 billion debt package. Perpetua supplemented this with equity raises, including a $49 million funding round in July and a $255 million strategic investment from Agnico Eagle and JPMorgan late last month.
Operationally, Perpetua reported a clean safety record for the quarter, with no lost-time incidents or reportable environmental events. Management continues to target a formal construction sanction decision for the Stibnite project in Spring 2026.