Perpetua Resources Announces Key Federal Decision to Authorize the Stibnite Gold Project
The U.S. Forest Service to publish Final Environmental Impact Statement and favorable Draft Record of Decision tomorrow
A breath of fresh air came wafting in from Idaho this morning with Perpetua Resources’ announcement that the U.S. Forest Service intends to publish a Final Environmental Impact Statement and favorable Draft Record of Decision tomorrow authorizing the Stibnite Gold Project.
This morning’s announcement is literally decades in the making. Mining activities began at Stibnite in 1899 during a time when environmental regulations did not exist. Perpetua intends to resume mining operations at Stibnite in 2028, and in the process write a new chapter of environmentally responsible mining:
Perpetua's Stibnite Gold Project is positioned to be one of the highest-grade open pit gold projects in the United States with 4.8 million ounces of estimated gold reserves. The Project is expected to produce over 450,000 ounces of gold annually over the first four years with all-in sustaining costs under $450 per gold ounce based on the 2020 Feasibility Study.
In addition, Stibnite hosts one of the largest economic reserves of antimony and could supply approximately 35% of U.S. demand in the first six years of production.
PPTA shares are up 17% on the news and +200% year-to-date:
PPTA (Daily)
The company’s website is celebrating this morning’s well deserved news that opens a new chapter of mining for the state of Idaho.
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