The stock of Perpetua Resources Corp. (NASDAQ: PPTA) rose by 20.15% on Friday to close the sessions at $7.81. The PPTA stock remained rising 30.17% in the past 5 sessions while over the month it is almost stable with a slight rise of 2.09%. The PPTA stock came to be rising for the last two sessions after an Executive order by U.S. President Joe Biden regarding the exploration of critical minerals including antimony.
What’s in the EO for PPTA:
With the Stibnite Gold Project, Perpetua Resources Corp. is exploring, restoring, and redeveloping gold, antimony, and silver deposits in central Idaho through its wholly-owned subsidiaries. Despite being one of the U.S.’s largest open-pit gold deposits, the Project is one of the lowest-grade gold deposits in the United States. To restore and produce gold and antimony from abandoned mines and to restore natural habitats at the site, this project will employ a modern, responsible mining methodology.
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Antimony so recovered will be utilized in national defense, aerospace, and technology sectors, and is a critical mineral according to federal law. Further to its commitments to transparency, accountability, the environment, safety, and community engagement, Perpetua Resources also adopted formal Environmental, Social, and Governance (ESG) commitments.
A recent Executive Order by President Biden discusses securing the country’s critical supply chains. Antimony mined by Perpetua Resources is widely used in the national defense, technology, and energy sectors; and has been designated a critical mineral by the federal government.
An integral part of the future of a strong and more sustainable the United States depends on sourcing minerals responsibly. And Perpetua Resources (PPTA) will be well-positioned to leverage its market position in the industry, so PPTA could succeed rapidly in the segment.