Perpetua Resources Corp 8-K, filed Aug 21, 2023
Perpetua Resources Corp. (PPTA)
About this 8-K
Perpetua Resources Corp filed this 8-K on August 21, 2023, reporting on events of August 18, 2023.
Items reported
- Item 8.01: Other events
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| Item 8.01 | Other Events. |
On August 18, 2023, Perpetua Resources Corp.’s wholly-owned subsidiary, Perpetua Resources Idaho, Inc. (collectively, “Perpetua Resources” or the “Company”) was awarded an Ordnance Technology Initiative Agreement (“OTIA”) of up to $15.5 million under the Prototype Other Transaction authority of the Department of Defense (“DoD”) through the DoD Ordnance Technology Consortium (“DOTC”). The funding objective of the OTIA is to demonstrate a fully domestic antimony trisulfide supply chain using ore from the Stibnite Gold Project (“Project”) site for use in munitions. The OTIA designates funding to the Company to conduct activities to meet this objective, including obtaining additional core samples from the Project site, conducting a pilot plant study to produce mil-spec antimony trisulfide from the samples, designing a full-scale process circuit, and delivering a modular pilot plant for the DoD to use in further investigations. Under the OTIA, Perpetua will be reimbursed for these activities on a cost-plus fixed fee basis over the 24-month period of performance. The current estimated amount is $15.5 million, which is subject to adjustment by the DoD based on scope, costs, budget, or other factors as the program advances. Perpetua will be entitled to reimbursement for all costs incurred under the agreement. The OTIA contains customary terms and conditions for OTIAs, including ongoing reporting obligations.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| PERPETUA RESOURCES CORP. | ||
| Dated: August 21, 2023 | By: | /s/ Jessica Largent |
| Jessica Largent | ||
| Chief Financial Officer | ||