Barrick sells Perpetua shares
Bullion miner Barrick Gold on Tuesday announced the disposal of 5 382 587 common shares of Idaho-focused Perpetua Resources for gross cash proceeds of C$21.73-million.
Immediately prior to the disposal, Barrick had beneficial ownership of, or control and direction over, about 8.5% of the issued and outstanding shares of Perpetua.
Barrick said that it sold its stake in Perpetua as part of its investment portfolio management.
“Depending on market conditions and other factors, including Perpetua Resources’ business and financial condition, Barrick may in future acquire securities of Perpetua Resources or dispose of some or all of the securities of Perpetua Resources that it may own at any such time,” the miner said.
Meanwhile, Perpetua welcomed investor Kopernik Global Investors as a new shareholder following a recent market purchase.
"We are excited to welcome Kopernik as a shareholder," said Perpetua president and CEO Laurel Sayer.
"Perpetua shares are currently trading at a significant discount to the Stibnite gold project's value and this has been recognised. We believe this investment further supports our vision and superior value proposition."
The Stibnite project is currently progressing into the later stages of the permitting process, and the company anticipates the release of a supplemental draft environmental impact statement in the third quarter of 2022.
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