Perpetua Resources awarded up to $6.9M in defense funding

Perpetua Resources (PPTA) has been awarded up to $6.9M in additional funding from the U.S. Army via the Defense Ordnance Technology Consortium. The funding builds on the $15.5M awarded to the company by DOTC under an Ordnance Technology Initiative Agreement in August 2023. The funds are being applied to testing intended to demonstrate the feasibility of using material sourced from Perpetua’s Stibnite Gold Project to produce military-specification antimony trisulfide, a critical component in certain munitions and advanced defense systems. The OTIA is intended to fund the development and delivery of a flexible, modular pilot plant to the U.S. Army to process antimony and other materials of Department of Defense interest. The additional funding is intended to enable Perpetua to expand material sampling and to increase the scope and size of the pilot plant contemplated under the original OTIA. This supplemental award allows the company to expand the research already in progress under the OTIA. The aggregate total funding amount of up to $22.4M under the OTIA is subject to adjustment by DOTC based on scope, costs, budget, or other factors as the program advances. Perpetua will be entitled to reimbursement for all costs incurred under the agreement.