Perpetua Resources Shares Rise With $225 Million Investment From Agnico Eagle, JPMorgan

By Robb M. Stewart

Perpetua Resources shares climbed Monday after a deal was struck to secure a $225 million investment from JPMorgan Chase and Canadian gold producer Agnico Eagle Mines to help fund development of a mining project in central Idaho.

In morning trading, the shares were 3.4% higher at $24.10. In Toronto, the stock was up 6.6% at C$34.74.

The Idaho-based company said Agnico Eagle will invest $180 million and JPMorgan $75 million in exchange for shares and warrants. The equity placement was priced at $23.30 a share, the level Perpetua shares closed at last Friday.

The transaction will see Agnico Eagle secure a 6.5% equity stake in Perpetua and collect warrants that, if exercised in full, would mean up to $100 million for Perpetua and would lift Agnico Eagle's stake in the company to 8.6%. The equity investment by JPMorgan will secure it a 2.7% stake in Perpetua, with the potential to increase the investment by up to $42 million if all its warrants are exercised.

The private placement is expected to close on or about Oct. 28.

The funding deal comes after Perpetua last week broke ground on its Stibnite gold project, which is projected to produce 450,000 troy ounces of gold annually over the first four years of output, as well as antimony, a silvery element used in alloys to give strength and hardness to other metals.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

October 27, 2025 10:36 ET (14:36 GMT)