08:11 AM EDT, 03/14/2024 (MT Newswires) -- Perpetua Resources ( PPTA ) on Thursday said chief executive Laurel Sayer is resigning her post effective immediately and will officially retire on April 1 of next year as she plans to remain an adviser to her newly appointed replacement, mining executive Jon Cherry.

The company said Cherry has 33 years of industry experience and was most recently chief executive of PolyMet Metals prior to its sale to Glencore. He was an executive at Rio TInto (RAX) prior to taking the PolyMet post.

Cherry will lead development of the company's Stibnite gold, antimony, and silver project in Idaho.

"I look forward to advancing Perpetua's vision to restore an abandoned legacy mine site, responsibly develop one of the highest grade open-pit gold mines in the United States and support national security and the energy transition by becoming the only domestically mined source of the critical mineral antimony," Cherry said in a release.

Perpetua shares closed up C$0.37 to C$5.67 Wednesday on the Toronto Stock Exchange.