10:24 AM EST, 11/18/2024 (MT Newswires) -- Perpetua Resources ( PPTA ) said Monday it priced its public offering of about 3.4 million shares at $10.17.

Underwriters were given an option to buy up to an additional 515,919 shares.

The gross proceeds to Perpetua from the offering will be about $35 million, or about $40 million if the underwriters exercise the option in full.

Net proceeds will be used for down payments on long lead time materials, detailed engineering for the company's Stibnite gold project, as well as general corporate purposes.

Shares of Perpetua Resources ( PPTA ) were down 7.5% in recent trading.

Price: 9.81, Change: -0.79, Percent Change: -7.45