PERPETUA RESOURCES CORP. 8-K

What Happened
On May 21, 2026, Perpetua Resources Corp. announced that the board of the Export-Import Bank of the United States (EXIM) unanimously approved a $2.9 billion senior secured long‑term loan under the Make More in America Initiative to support development of the Stibnite Gold Project. The approval follows extensive technical, financial, environmental and social due diligence and a 25‑day notice period to Congress. EXIM’s approval is subject to completion of definitive loan documentation and customary conditions precedent; Perpetua expects those steps to be completed in the second half of 2026.

Key Details

• EXIM approval date: May 21, 2026; approval was unanimous.
• Loan size and structure: $2.9 billion 13‑year senior secured credit facility — $2.4 billion upfront facility plus the balance to cover capitalized interest during construction and EXIM’s exposure fee.
• Interest and timing: Rate = long‑dated U.S. Treasury bond rate + 100 basis points, fixed at first drawdown; scheduled repayments are expected to begin in 2030.
• Reason for increased principal vs. initial EXIM review: option to move certain planned equipment financing from a third‑party financier into the EXIM Loan. Funding remains conditional on definitive documentation and satisfaction of covenants.

Why It Matters
This EXIM approval, if closed, would provide a cornerstone financing commitment for Perpetua’s Stibnite Project and could materially affect the company’s ability to fund construction and future liquidity needs. However, the release of funds is not guaranteed — closing requires final loan documents and meeting conditions precedent — so investors should treat the approval as an important but conditional financing milestone. The filing also contains standard forward‑looking disclaimers about timing, documentation and funding risks.