Perpetua Resources Corp. reported a net loss of $97.5 million for the second quarter of 2026, driven by increased exploration and pre-development spending ahead of a final investment and construction decision expected in the second half of the year.

The quarterly result compared with a net loss of $6.0 million in the prior-year period. Perpetua ended the quarter with $574.2 million in unrestricted cash and cash equivalents, alongside $60.9 million in restricted cash equivalents.

The financial position is underpinned by a $2.9 billion senior secured long-term loan approved unanimously by the Export-Import Bank of the United States board on May 21, 2026. The facility, secured under the Make More in America Initiative, supports the development of the 100%-owned Stibnite Gold Project in central Idaho. Perpetua continues to work through definitive documentation and anticipates closing the loan facility later in 2026, representing a substantially larger financing package than the US$255 million strategic equity investment secured in November 2025.

“Significant milestones were achieved at Perpetua in Q2 2026,” said Jon Cherry, President and CEO of Perpetua Resources. “The unanimous approval by the U.S. EXIM board of our $2.9 billion senior secured loan has laid the foundation for Stibnite's future construction, and combined with our $574.2 million cash position at quarter-end, positions us well as we advance toward a final investment and construction decision in the second half of the year. We continue to work through definitive documentation and anticipate closing this facility later this year. Other key developments included the commencement of Burntlog Route upgrades, continuing work on the worker housing and administrative facilities and other site locations, ongoing deliveries of worker housing facility units to site and the continuation of exploration activities. The benefits of exploration remain abundantly clear as our short winter drill program delivered promising results and demonstrated that significant opportunity remains for resource conversion at Stibnite.” — Jon Cherry, President and CEO

Early works construction at Stibnite previously broke ground on October 21, 2025, following receipt of the U.S. Forest Service Record of Decision and the posting of financial assurance. Additional critical path construction activities commenced on May 30, 2026, encompassing initial work on the Burntlog Route infrastructure project and the installation of worker housing and administrative facilities.

Read the full announcement: Perpetua Resources Announces Second Quarter 2026 Financial Results