Perpetua Resources (PPTA) shares are surging in extended trading Thursday after the company secured a long-term loan under the Make More in America Initiative.
The Export-Import Bank of the United States unanimously approved a $2.9 billion senior secured loan to support Perpetua's Stibnite Gold Project. This is a big deal because the project will develop the only domestic reserve of antimony, a mineral critical for defense and industrial applications. The loan is part of a broader push to strengthen U.S. supply chains and reduce dependence on foreign sources.
"It is time to make more in America and today marks not only a key milestone for Perpetua Resources, but a significant step in mineral security for our country," said Jon Cherry, president and CEO of Perpetua Resources. "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."
The loan will be available after final documentation, expected in the second half of 2026. It's structured as a 13-year senior secured credit facility, and Perpetua expects it, combined with cash on hand, to fully fund construction of the project.
Investors are clearly excited. Perpetua shares were up 13.77% in after-hours trading, hitting $30.40 at the time of publication Thursday. The market is betting that this project will not only be profitable but also strategically vital for the U.S.
