<div id="readability-page-1"><div><ul> <li>Perpetua Resources broke ground on the Stibnite Gold Project in October 2025, having secured several major funding commitments and receiving the U.S. Forest Service's conditional Notice to Proceed for early works.</li> <li>This project is set to provide a domestic source of antimony and gold, supporting U.S. military and industrial supply chains, while also prioritizing environmental restoration efforts in Idaho.</li> <li>We'll explore how these substantial financing achievements and project advancements shape Perpetua Resources' investment narrative, especially given its progress toward a full construction decision.</li> </ul><p>The best AI stocks today may lie beyond giants like Nvidia and Microsoft. Find the next big opportunity with these 27 smaller AI-focused companies with strong growth potential through early-stage innovation in machine learning, automation, and data intelligence that could fund your retirement.</p><h2>What Is Perpetua Resources' Investment Narrative?</h2><p> For anyone considering Perpetua Resources, the central thesis is ultimately a bet on the Stibnite Gold Project becoming a viable domestic supplier of antimony and gold, while helping remediate long-standing environmental impacts in Idaho. The recent announcement that the company broke ground, after lining up significant strategic and government-backed funding, is an important milestone. It brings the company a step closer to full construction, now expected to be decided by spring 2026, and directly addresses previous concerns around financing and regulatory hurdles. However, losses have widened sharply as capital requirements have ballooned, and new equity raises have created dilution risks for shareholders. While these developments reduce short-term project uncertainty, attention now shifts to execution risk and the ability to control costs, especially as share price volatility and lawsuits add to the mix. On the other hand, the growing capital needs and share dilution are issues investors should be aware of. </p> <p>Our comprehensive valuation report raises the possibility that Perpetua Resources is priced higher than what may be justified by its financials.</p><h2>Exploring Other Perspectives</h2><figure><img height="476" src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/557980c9-5800-4599-b6bb-39a6e471cb4f/chart/community-fair-value?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="746" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/557980c9-5800-4599-b6bb-39a6e471cb4f/chart/community-fair-value"/><figcaption>TSX:PPTA Community Fair Values as at Nov 2025</figcaption></figure><p> Seven fair value estimates from the Simply Wall St Community span a wide range, from US$4.33 to US$43.29 per share. This breadth highlights varied conviction and uncertainty ahead of the project’s next construction decision, reflecting how opinions may shift as risks like cost overruns or legal issues affect Perpetua’s future. Explore multiple perspectives before shaping your outlook.</p><p>Explore 7 other fair value estimates on Perpetua Resources - why the stock might be worth less than half the current price!</p><h2>Build Your Own Perpetua Resources Narrative</h2><p>Disagree with this assessment? Create your own narrative in under 3 minutes - extraordinary investment returns rarely come from following the herd.</p><ul><li>A great starting point for your Perpetua Resources research is our analysis highlighting 1 key reward and 3 important warning signs that could impact your investment decision.</li><li>Our free Perpetua Resources research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Perpetua Resources' overall financial health at a glance.</li></ul><h2>Contemplating Other Strategies?</h2><p>Our top stock finds are flying under the radar-for now. Get in early:</p><ul><li>Uncover the next big thing with financially sound penny stocks that balance risk and reward.</li><li>Rare earth metals are the new gold rush. Find out which 37 stocks are leading the charge.</li><li>Explore 26 top quantum computing companies leading the revolution in next-gen technology and shaping the future with breakthroughs in quantum algorithms, superconducting qubits, and cutting-edge research.</li></ul> <p><em> This article by Simply Wall St is general in nature. <strong>We provide commentary based on historical data     and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice.</strong> It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your     financial situation. We aim to bring you long-term focused analysis driven by fundamental data.     Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.     Simply Wall St has no position in any stocks mentioned.</em></p></div></div>

PPTA

<p>Perpetua Resources advances the Stibnite Gold Project with new funding and regulatory approval, aiming to supply antimony and gold domestically while addressing environmental issues in Idaho. Despite progress, challenges include increased capital needs, share dilution, and execution risks. Investors should consider varied fair value estimates and potential cost overruns. The project is a significant milestone, moving closer to full construction by spring 2026.</p>

How Investors May Respond To Perpetua Resources (TSX:PPTA) Advancing Stibnite Gold Project With New Funding