Perpetua Resources Corp. Files Q1 2024 10-Q Report

TL;DR

<b>Perpetua Resources Corp. has submitted its Q1 2024 10-Q filing, detailing its financial position and operations.</b>

AI Summary

PERPETUA RESOURCES CORP. (PPTA) filed a Quarterly Report (10-Q) with the SEC on May 10, 2024. Perpetua Resources Corp. filed its quarterly report on Form 10-Q for the period ending March 31, 2024. The filing covers the first quarter of 2024, with a fiscal year end of December 31. The company's business address is 405 S. 8th Street, Boise, ID 83702. Perpetua Resources Corp. was formerly known as Midas Gold Corp., with a name change date of July 20, 2011. The SIC code for the company is 1040, Gold & Silver Ores.

Why It Matters

For investors and stakeholders tracking PERPETUA RESOURCES CORP., this filing contains several important signals. This 10-Q filing provides investors with an update on Perpetua Resources Corp.'s financial performance and operational status for the first quarter of 2024. Understanding the details within this report is crucial for stakeholders to assess the company's progress, identify potential risks, and make informed investment decisions regarding Perpetua Resources Corp.

Risk Assessment

Risk Level: low — PERPETUA RESOURCES CORP. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant financial or operational disclosures that would indicate a high-risk event.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand Perpetua Resources Corp.'s current financial health and operational outlook.

Key Numbers

• 1040 — SIC Code (Gold & Silver Ores)
• 20110720 — Date of Name Change (From Midas Gold Corp.)

Key Players & Entities

• PERPETUA RESOURCES CORP. (company) — Filer name
• PPTA (company) — Ticker symbol
• 2024-03-31 (date) — Conformed period of report
• 2024-05-10 (date) — Filed as of date
• 405 S. 8TH STREET (address) — Business address
• BOISE (location) — Business address city
• ID (location) — Business address state
• MIDAS GOLD CORP. (company) — Former company name

FAQ

Industry Context

Perpetua Resources Corp. operates in the Gold & Silver Ores sector, indicated by its SIC code 1040.

Regulatory Implications

The filing is a standard SEC Form 10-Q, adhering to regulations for quarterly financial reporting by public companies.

What Investors Should Do

1. Analyze the financial statements (balance sheet, income statement, cash flow) for Q1 2024.
2. Review the Management's Discussion and Analysis (MD&A) section for insights into operational performance and future outlook.
3. Check for any new disclosures or updates in risk factors or legal proceedings.

Key Dates

• 2024-03-31: End of Reporting Period — Q1 2024 financial data
• 2024-05-10: Filing Date — Submission of 10-Q report

Year-Over-Year Comparison

This is the Q1 2024 10-Q filing, providing an update from previous filings.

Filing Documents

• ppta-20240331x10q.htm (10-Q) — 949KB
• ppta-20240331xex31d1.htm (EX-31.1) — 12KB
• ppta-20240331xex31d2.htm (EX-31.2) — 12KB
• ppta-20240331xex32d1.htm (EX-32.1) — 6KB
• ppta-20240331xex32d2.htm (EX-32.2) — 6KB
• ppta-20240331x10q004.jpg (GRAPHIC) — 8KB
• 0001104659-24-059943.txt (&nbsp;) — 5060KB
• ppta-20240331.xsd (EX-101.SCH) — 44KB
• ppta-20240331_def.xml (EX-101.DEF) — 211KB
• ppta-20240331_lab.xml (EX-101.LAB) — 374KB
• ppta-20240331_cal.xml (EX-101.CAL) — 32KB
• ppta-20240331_pre.xml (EX-101.PRE) — 319KB
• ppta-20240331x10q_htm.xml (XML) — 754KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 26 Item 4.

Controls and Procedures

Controls and Procedures 26 PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 27 Item 1A.

Risk Factors

Risk Factors 27 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 28 Item 3. Defaults Upon Senior Securities 28 Item 4. Mine Safety Disclosures 28 Item 5. Other Information 28 Item 6. Exhibits 29 1 Table of Contents CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Certain statements contained in this Quarterly Report are "forward-looking statements" within the meaning of "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act") and "forward-looking information" within the meaning of applicable Canadian securities laws. All statements, other than statements of historical fact included in this Quarterly Report, regarding our strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used in this Quarterly Report, the words "anticipate," "believe," "expect," "estimate," "intend," "plan," "project," "outlook," "may," "will," "should," "would," "could," "can," the negatives thereof, variations thereon and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Forward-looking statements are based on certain estimates, beliefs, expectations and assumptions made in light of management's experience and perception of historical trends, current conditions and expected future developments, as well as other factors that may be appropriate. Forward-looking statements necessarily involve unknown risks and uncertainties, which could cause actual results or outcomes to differ materially from those expressed or implied in such statements. Due to the risks, uncertainties and assumptions inherent in forward-looking information, you should not place undue reliance on forward-looking statements. Factors th

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. Perpetua Resources Corp. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) March 31, December 31, 2024 2023 ASSETS CURRENT ASSETS Cash and cash equivalents $ 8,040,313 $ 3,229,462 Receivables 1,907,192 3,181,152 Prepaid expenses 495,817 443,312 10,443,322 6,853,926 NON-CURRENT ASSETS Buildings and equipment, net 376,707 385,049 Right-of-use assets 11,298 27,898 Environmental reclamation bond (Note 5) 3,000,000 3,000,000 Mineral properties and interest (Note 3) 64,485,200 72,820,365 TOTAL ASSETS $ 78,316,527 $ 83,087,238 LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES Trade and other payables $ 2,743,758 $ 4,997,226 Lease liabilities 11,297 27,897 CWA settlement payable (Note 6) 1,500,000 2,000,000 Environmental reclamation liabilities (Note 5) 700,412 764,607 4,955,467 7,789,730 NON-CURRENT LIABILITIES CWA settlement payable (Note 6) 3,000,000 3,000,000 TOTAL LIABILITIES 7,955,467 10,789,730 COMMITMENTS AND CONTINGENCIES (Note 6) SHAREHOLDERS' EQUITY (Note 4) Common shares, no par value, unlimited shares authorized, 64,351,878 and 64,123,456 shares outstanding, respectively 619,428,017 618,581,910 Additional paid-in capital 34,575,532 34,413,562 Accumulated deficit ( 583,642,489 ) ( 580,697,964 ) TOTAL SHAREHOLDERS' EQUITY 70,361,060 72,297,508 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 78,316,527 $ 83,087,238 See accompanying notes to the unaudited condensed consolidated financial statements. 4 Table of Contents Perpetua Resources Corp. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) For the three months ended March 31, 2024 2023 EXPENSES Corporate salaries and benefits $ 466,747 $ 390,983 Depreciation 26,361 16,954 Directors' fees 262,633 221,262 Exploration 6,542,360 5,706,425 Environmental liability expense (Note 5) 153,429 1,118,303

View Full Filing

View this 10-Q filing on SEC EDGAR