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PPTA

Perpetua Resources Corp.

PPTA

Perpetua Resources Corp. • NASDAQ
$25.74 ▲ 2.75% (+0.69)
Market Cap $3.14 B
52w High $31.65
52w Low $7.81
Dividend Yield 0%
P/E -48.57
Volume 1.33M
Outstanding Shares 121.87M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $33.702M ▲ $-25.756M ▼ 0% $0.24 ▲ $-25.72M ▼
Q2-2025 $0 $11.711M ▼ $-6.026M ▲ 0% $-0.079 ▼ $-5.994M ▲
Q1-2025 $0 $14.929M ▼ $-8.205M ▼ 0% $0.12 ▲ $-8.174M ▼
Q4-2024 $0 $15.157M ▼ $-4.3M ▼ 0% $-0.063 ▼ $-4.18M ▼
Q3-2024 $0 $15.649M $-3.565M 0% $0.054 $-2.679M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $445.834M ▲ $544.887M ▲ $12.892M ▲ $531.995M ▲
Q2-2025 $425.374M ▲ $518.029M ▲ $8.285M ▼ $509.744M ▲
Q1-2025 $19.141M ▼ $111.486M ▼ $8.935M ▲ $102.551M ▼
Q4-2024 $44.105M ▲ $117.61M ▲ $8.751M ▼ $108.859M ▲
Q3-2024 $11.211M $89.295M $12.09M $77.205M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-25.756M ▼ $-12.073M ▼ $-13.724M ▼ $46.249M ▼ $20.46M ▼ $-25.797M ▼
Q2-2025 $-6.026M ▲ $-6.584M ▲ $-829.616K ▼ $413.64M ▲ $406.233M ▲ $-7.414M ▲
Q1-2025 $-8.205M ▼ $-25.644M ▼ $0 ▲ $680.642K ▼ $-2.178M ▼ $-25.644M ▼
Q4-2024 $-4.3M ▼ $-51.81K ▲ $-1.968M ▼ $34.962M ▲ $32.894M ▲ $-2.019M ▼
Q3-2024 $-3.565M $-1.338M $-532.798K $11.199M $9.328M $-1.871M

Five-Year Company Overview

Income Statement

Income Statement Perpetua is clearly still in a pre‑revenue, development stage. The company has reported essentially no sales for several years, and all activity is geared toward advancing the Stibnite project rather than operating mines. As a result, the income statement shows ongoing operating losses, but those losses have been relatively contained and not exploding over time. Earnings per share figures bounce around, reflecting accounting items and a small equity base rather than a shift to a mature, profitable business. Overall, this is a story of a project still being built, not a business generating regular income yet.

Balance Sheet

Balance Sheet The balance sheet is small and simple, consistent with an early‑stage resource developer. Assets are modest and largely financial rather than heavy production infrastructure. Equity has funded most of the company, with very little financial debt showing up, which lowers interest obligations but increases dependence on equity markets or future partnerships. Cash levels have moved up and down over the years, suggesting periodic capital raises followed by spending on studies, permitting, and project advancement. The key risk is that the current asset and cash base are not enough to build a large mine, so substantial future funding will be needed.

Cash Flow

Cash Flow Cash flows reflect a company spending to advance a project rather than one bringing in cash from operations. Operating cash flow has been consistently negative, showing ongoing outlays for salaries, studies, permitting, and corporate costs. Free cash flow is also negative, but there is little traditional capital spending yet because construction has not started in full. In practice, the business is consuming cash and will likely continue to do so until a construction decision and eventual production, meaning the company’s path depends heavily on fresh funding, grants, or strategic partners.

Competitive Edge

Competitive Edge Perpetua’s main strength is strategic rather than financial. Its Stibnite project is positioned to be the only domestic source of antimony, a mineral considered critical for defense, electronics, and energy technologies. That gives it a national security angle and has already attracted government attention and support. The project also includes a large gold deposit, which could be the primary economic driver, with antimony as a high‑value by‑product. On top of that, the company emphasizes environmental restoration of an old, damaged mining district, which can help with public and regulatory acceptance. The flip side is that the business depends on a single major project in a permitting‑ and construction‑intensive industry, so execution and regulatory risks are concentrated.

Innovation and R&D

Innovation and R&D Perpetua’s “R&D” is mainly about engineering and process innovation rather than lab research. The company plans to use pressure oxidation technology and an integrated processing flowsheet to recover both gold and antimony from a complex ore body, aiming to squeeze as much value as possible from each ton of rock. It also highlights modern, lined tailings facilities and the reprocessing of old tailings, turning environmental liabilities into potential sources of metal and improved water quality. Future upside could come from expanding resources around Stibnite, improving recovery rates, or moving further down the value chain in antimony processing. All of this is promising on paper but unproven at commercial scale for this particular deposit.

Summary

Perpetua Resources today is essentially a single, strategic mining project rather than a diversified operating company. Financial statements show no meaningful revenue, steady but manageable losses, and ongoing cash burn typical of a development‑stage miner. The balance sheet is equity‑funded with little leverage, which limits financial strain but implies future capital needs for mine construction. The real story lies in its potential: a large gold project tightly linked with a domestically critical mineral, antimony, plus a strong environmental restoration angle and visible government backing. The main opportunities are strategic importance and process innovation; the main risks are financing, permitting, construction execution, and the fact that all value is tied to bringing one complex project successfully into production.

NEWS

November 17, 2025 · 7:00 AM UTC

Perpetua Resources Announces Third Quarter 2025 and Recent Highlights

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November 13, 2025 · 8:00 AM UTC

Antimony Stocks and the Global Battle for Critical Minerals

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October 28, 2025 · 7:59 PM UTC

Perpetua Resources Announces Pricing of $71 million Offering of Common Shares and $7 million Concurrent Private Placement

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October 28, 2025 · 4:10 PM UTC

Perpetua Resources Announces $70 Million Offering of Common Shares

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October 27, 2025 · 8:00 AM UTC

ATCO Structures Accelerates U.S. Expansion with $179M Worker Housing Contract for Perpetua Resources

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