The stock market continues to rise after the close. Thanks to $PPTA (+1,09 %) who today received the long-awaited loan approval from the Import/Export Bank. This means that the latest project is secured and $PPTA (+1,09 %) will remain one of the largest positions in my portfolio
The Export-Import Bank of the United States (EXIM) has approved a US$2.9 billion senior secured loan for Perpetua Resources Corp (NASDAQ:PPTA) (TSX:PPTA). According to a press release issued today, the financing is for the development of the Stibnite Gold Project in Idaho.
The company, which is currently valued at 3.34 billion US dollars, has seen its share price rise by over 101% in the past year. However, the share price fell by 11.5 % last week, closing at 26.71 US dollars. According to an analysis by InvestingPro the share appears undervalued at the current level and is trading below its fair value, which makes it one of the opportunities on the platform list of the am stärksten unterbewerteten Aktien platform list.
The loan was approved as part of EXIM's "Make More in America" initiative following technical, financial, environmental and social due diligence and a 25-day congressional notification period. According to the company, the Stibnite Gold Project hosts the only domestic reserve of the critical mineral antimony.
Together with Perpetua's existing cash resources, the loan is expected to fully cover the estimated capital costs of constructing the project. This is based on the company's Technical Report Summary dated December 31, 2025. A note from InvestingPro highlights that the company has more cash than debt on its balance sheet and has significant financial flexibility for the upcoming project with a robust current ratio of 20.4. The platform rates the company's overall financial health as "SATISFACTORY".
The financing package will be structured as a 13-year senior secured credit facility totaling USD 2.9 billion. This is comprised of an initial facility of USD 2.4 billion, with the balance representing capitalized interest accrued during the construction phase. interest* and the EXIM risk fee. The *interest is determined on the basis of the applicable interest rate for long-term US government bonds plus 100 basis points and is fixed at the time of the first drawdown. The scheduled repayments are to begin in 2030.
The loan is subject to completion of final documentation and fulfillment of customary conditions precedent, which is expected in the second half of 2026.
The Stibnite Gold Project aims to rehabilitate an abandoned mine site in the Stibnite-Yellow Pine district of Idaho to produce gold and antimony. The project is expected to create an average of over 700 direct jobs annually over the life of the mine.
Analysts remain bullish on the stock, citing price targets between $32 and $42, indicating upside potential from current levels. Investors looking for more in-depth insights can refer to 11 additional InvestingPro-tips, comprehensive financials and a fair value analysis to make more informed decisions about Perpetua Resources.
Perpetua Resources submitted its initial Letter of Interest to EXIM in 2024 and made the formal application in May 2025. In September 2025, the company received a preliminary project commitment and an indicative term sheet.
The project was classified as a "Transparency Project" under the FAST-41 program. Endeavour Financial is acting as financial advisor to the transaction, while Hunton Andrews Kurth LLP is providing legal advice.
