$2.7B U.S. EXIM Loan Moves to May 21 Vote to Fund Stibnite Project
PPTA•Perpetua Resources advanced financing with U.S. EXIM Board posting for a $2.7B senior secured loan and a May 21 vote on a $2.2B construction tranche. In Q1 the company locked final state water and wastewater permits, shifted EPCM duties to Hatch and progressed engineering and procurement pre-FID.
1. Project Financing Advances
Perpetua Resources secured U.S. Export-Import Bank Board posting for an approximately $2.7 billion senior secured loan and is scheduled for a final vote on May 21, 2026. The loan’s approval remains subject to board discretion, with no guarantee of passage at that meeting or thereafter.
2. Funding and FID Timeline
If approved, the financing package would allocate roughly $2.2 billion to construction, with the balance covering capitalized interest and fees. Combined with $669.5 million cash on hand as of March 31, 2026, this funding would fully cover the project’s $2.576 billion direct capital cost estimate and support a final investment decision in the second half of 2026.
3. Permits and Development Milestones
In Q1 the company received the final Idaho Department of Water Resources and wastewater discharge permits and obtained Clean Water Act Section 401 certification. It expects a second-phase cyanidation permit in Q2, transitioned EPCM responsibilities to Hatch, advanced detailed engineering and long-lead procurement, and awaits a May 28 hearing on an environmental injunction motion.
