Perpetua to sell silver royalty for $8.5m

TSX-listed Perpetua Resources has entered into a royalty agreement with a wholly-owned subsidiary of Franco-Nevada pursuant to which Perpetua, through its subsidiaries, sold Franco-Nevada a royalty on the future payable silver production from the Stibnite gold project, in the US, in exchange for a cash payment of $8.5-million. “This transaction allows Perpetua to monetise a non-strategic by-product from the Stibnite gold project and enhance our liquidity to cover a majority of our near-term priorities that are not covered by the funding we’ve received from the Department of Defence to advance permitting and construction readiness,” says Perpetua CEO and president Jon Cherry.