Perpetua Resources wins key federal authorization for Stibnite gold project

seekingalpha09-05

Perpetua Resources (NASDAQ:PPTA) +8% pre-market Thursday after saying the U.S. Forest Service has completed the final environmental impact statement and is issuing a draft record of decision ...

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The company said the authorization means the Stibnite project is \"poised to become the next world class gold mine and the only U.S. mined source of the critical mineral antimony.\" Perpetua  said Stibnite would be one of the highest-grade open pit gold projects in the U.S., with 4.8M oz of estimated gold reserves, and is expected to produce more than 450K oz/year of gold over the first four years at all-in sustaining costs below $450/oz of gold, based on a 2020 feasibility study. As a by-product of gold production, the project has a reserve of 148M lbs of antimony, a critical mineral that is currently not mined domestically. 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The company said the authorization means the Stibnite project is \"poised to become the next world class gold mine and the only U.S. mined source of the critical mineral antimony.\" Perpetua (PPTA) said Stibnite would be one of the highest-grade open pit gold projects in the U.S., with 4.8M oz of estimated gold reserves, and is expected to produce more than 450K oz/year of gold over the first four years at all-in sustaining costs below $450/oz of gold, based on a 2020 feasibility study. As a by-product of gold production, the project has a reserve of 148M lbs of antimony, a critical mineral that is currently not mined domestically. 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