Perpetua gets U.S. notice authorizing construction of Stibnite antimony and gold mine

[Highlight on chemical element Antimony in periodic table of elements. 3D rendering]
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Perpetua Resources (NASDAQ:PPTA [https://seekingalpha.com/symbol/PPTA]) +2.2% pre-market Friday after saying it received a conditional notice to proceed [https://seekingalpha.com/pr/20238172-perpetua-resources-receives-notice-to-proceed-from-u-s-forest-service-authorizing-project] from the U.S. Forest Service for the Stibnite project in Idaho, which stated the project has satisfied all requirements outlined in the January record of decision and that the project may begin construction upon placement of financial assurance.

The Stibnite Gold Project plans to produce the only U.S. mined resource of the critical mineral antimony, a key component in munitions and advanced defense systems; there are no current U.S. sources of the metal.

Earlier this year, the Trump Administration placed Stibnite on its list of transparency projects under the FAST-41 Program, which is intended to support increased domestic mineral production through streamlined and focused permitting.

Earlier this week, state and federal agencies agreed on a joint financial assurance package requiring bonding for the Stibnite construction period; in the notice to proceed, the USFS specified to Perpetua (NASDAQ:PPTA [https://seekingalpha.com/symbol/PPTA]) that it will sign the company's plan of operation once financial assurance bonds are placed, which the company anticipates posting in the coming weeks.

Perpetua Resources (NASDAQ:PPTA [https://seekingalpha.com/symbol/PPTA]) began the formal permitting process for the Stibnite project under the National Environmental Policy Act in 2016.

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