08:10 AM EST, 11/18/2024 (MT Newswires) -- Perpetua Resources ( PPTA ) was at last look down 4.6% in New York premarket trading on Monday after saying it will sell 3.4 million common shares in the United States.

The company said it expects to use the proceeds from the sale for down payments on long lead time materials, detailed engineering for its Stibnite Gold Project, and general corporate purposes.

The share sale underwriters have an option to purchase up to an additional 515,919 common shares, or 15% of the number shares to be sold in the offering.

On Friday, PPTA jumped $2.12, or 17%, on the TSX to $14.97, just below a recent 52-week high.