08:05 AM EDT, 10/27/2025 (MT Newswires) -- Perpetua Resources ( PPTA ) traded 6.4% up at last look Monday in Nasdaq pre-market trading as it entered agreements to raise US$255 million in equity investments from Agnico Eagle Mines ( AEM ) and JPMorganChase.

Perpetua plans to use the proceeds to advance development of the Stibnite gold project in Idaho, where the company recently broke ground, as well as for general corporate purposes.

"The investments from Agnico Eagle and JPMorganChase are a vote of confidence in the Stibnite Gold Project and America's critical mineral strategy," Perpetua president and chief executive officer Jon Cherry said. "Investments from two leading, world-class institutions strengthens our capital position, reduces financing risk, and accelerates the development of one of the nation's most strategic resource projects."

Under the terms, Agnico Eagle agreed to invest $180 million in common shares, resulting in a 6.5% equity stake in Perpetua on a non-diluted basis.

Agnico Eagle will also receive warrants to purchase up to 2,861,229 common shares priced at a 35% premium for one year, 50% for two years and 65% for three years.

Meanwhile, JPMorganChase agreed to invest $75 million in common shares for a 2.7% equity stake in Perpetua. JPMorganChase will also receive warrants to purchase up to 1,192,179 common shares priced at a 35% premium for one year, 50% for two years and 65% for three years.

The offering was priced at $23.30 per common share, which was Perpetua's closing share price on Nasdaq last Friday.

The private placement is expected to close by Tuesday.