Mentioned:
The United States Army is coming after new sources of tungsten in America. Which is exactly why they’ve just given a new award to Perpetua Resources.
What’s happening:
- Perpetua Resources (NASDAQ: PPTA) has won a new award from the United States Army worth up to $40M USD to explore for tungsten at their Stibnite Gold Project located in Idaho
Why it matters:
- This is the first time Perpetua Resources has won an award from the United States military for tungsten
Going deeper:
- Perpetua Resources has publicly stated that recent drilling and historical production suggest their Stibnite Gold Project could be one of the world’s highest-grade sources of tungsten
- The United States Army has previously partnered with Perpetua Resources and Idaho National Laboratory on a modular pilot plant for antimony trisulfide located in Idaho Falls, Idaho
The intrigue:
- JPMorgan Chase and Agnico Eagle (NYSE: AEM) notably co-led a $225M USD equity financing round in Perpetua Resources to accelerate brining their Stibnite Gold Project into full scale production
