Midas Moves to NASDAQ & Rebrands as Perpetua Resources

by Mike Fagan

Mike Fagan

 

Perpetua Resources – formerly Midas Gold (TSX: MAX)(OTC: MDRPF) – has completed the uplisting process to the NASDAQ and has commenced trading under its new symbol “PPTA” for both the Toronto Stock Exchange and the NASDAQ.

The new name, Perpetua Resources, is a rebranding of sorts for the company with inspiration taken from Idaho’s motto, esto perpetua, meaning "to be eternal” and reflective of the company’s staunch commitment to protecting Idaho’s resources via the advancement — and equally important — the environmental restoration of the Stibnite Gold-Antimony Project and surrounding area.

Midas president & CEO, Ms. Laurel Sayer, commented via press release:
 

“Today's approval to list on the Nasdaq points to our growth and readiness to enter the next chapter of bringing the Stibnite Gold Project vision to life. The Nasdaq is a premier electronic exchange. Our listing here will allow us greater access to capital, which will help our team move the Stibnite Gold Project from permitting into production. We look forward to connecting with new investors, while delivering value to our long-term shareholders who have supported our vision for years.We have always been more than a gold mining company, but you wouldn't have known it by our name. The name Perpetua Resources better reflects our plan to restore an abandoned mining site, to responsibly develop the critical resources our country needs for a more secure and sustainable future and to be guided by a commitment to Idaho's resources and people. We are proud to enter our next chapter with a name that helps communicate our values and the sustainable future we are working to create for all of us.”


The Stibnite project also enters the clean-energy conversation with its significant antimony component which — as a federally designated critical mineral with zero domestic production — has critical applications in renewable energy including in wind turbines and solar panels as well as emerging liquid metal batteries.

The Stibnite project is also one of the highest grade, open pit gold deposits in the United States. Key highlights from the company’s recently completed Feasibility Study on the project include:

  • Expected Annual Average Gold Production of 466,000 ounces at All-in Sustaining Costs of US$427/oz during First 4 Years of Operation
     
  • 120 Million Pounds of Antimony Production
     
  • At US$1,850/oz gold, Robust Project Economics Yield NPV (5%) of US$1.9 Billion
     
  • Average Annual Free Cash Flow of US$594 million in First 4 Years of Operation

Hence, Stibnite is not only an important mine for the United States... it’s an important “mine site” for America through the lens of environmental restoration and protection.

Speculators who’ve been following the Midas/Perpetua story know that final permitting has been and continues to be the biggest hurdle in getting Stibnite from the permitting stage into production — and there’s been some late-breaking positive developments on that front as well.

Our own Gerardo Del Real of Junior Resource Monthly caught up with CEO Laurel Sayer to go over that welcomed news, as well as several other company milestones including the uplisting to the NASDAQ and the rebranding to Perpetua. That interview (and transcript) is here.

Be sure to also click here for our most recent report on Perpetua Resources.

Yours in profits,

Mike Fagan

Mike Fagan
Editor, Resource Stock Digest

Mike Fagan has mining in his blood. As a teenager he staked countless gold and silver properties in Nevada alongside his dad, Brian Fagan, who created the Prospect Generator model that’s still widely used today in the resource space. One of those staking projects was put into production by a major Canadian mining company — a truly rare and profitable experience. That background uniquely qualifies him as a mining stock speculator. One of the most well-known names in the business, Mike is now putting that experience to use for the benefit of Resource Stock Digest and Hard Asset Digest readers.