09:27 AM EDT, 03/31/2026 (MT Newswires) -- Perpetua Resources ( PPTA ) said Tuesday that the board of the Export-Import Bank of the United States (U.S. EXIM) unanimously agreed to notify the U.S. Congress of a proposed US$2.7 billion senior secured long-term loan to advance Perpetua's Stibnite gold project in Idaho.

A statement noted the proposed total comprises a direct loan of approximately $2.2 billion and the remainder for capitalized interest and fees, and that the proposed loan directly supports the goals and objectives of U.S. EXIM's Make More in America program.

The decision triggers a 25-day notice period to Congress and is the last formal step before U.S. EXIM's Board will vote on final approval, Perpetua said.

Perpetua added the loan would provide it with enough capital, together with the $714 million of cash on hand at the end of 2025, to finance the estimated capital cost of $2.58 billion to build the project.

"This puts Perpetua on track for a final investment decision later this year," Perpetua President and Chief Executive Officer Jon Cherry said.

Funding under the loan would be subject to finalization of definitive loan documents and satisfaction of all conditions to closing and drawdown, which could occur in the second half, Perpetua said.

Updated project economics for Stibnite outlined a base case after-tax net present value of of $3.5 billion based on a 5% discount rate and a gold price of $3,250 per ounce.