Perpetua Resources Corp. Files Q2 2024 10-Q

TL;DR

Perpetua Resources (PPTA) filed its Q2 10-Q. Financials updated.

AI Summary

Perpetua Resources Corp. filed its 10-Q for the period ending June 30, 2024. The company, formerly Midas Gold Corp., is focused on gold and silver ores. Financial details for the second quarter of 2024 are presented, including changes in common stock and additional paid-in capital.

Why It Matters

This filing provides investors with an update on Perpetua Resources Corp.'s financial position and operational activities during the second quarter of 2024.

Risk Assessment

Risk Level: medium — As a mining company, Perpetua Resources faces inherent risks related to commodity prices, exploration, and regulatory approvals.

Key Numbers

• Q2 2024 — Quarterly Period (Financial reporting period)
• 20240630 — Reporting Date (End of the reporting period)

Key Players & Entities

• PERPETUA RESOURCES CORP. (company) — Filer
• MIDAS GOLD CORP. (company) — Former company name
• 20240630 (date) — Reporting period end date
• 20240809 (date) — Filing date

FAQ

Filing Documents

• ppta-20240630x10q.htm (10-Q) — 1161KB
• ppta-20240630xex10d1.htm (EX-10.1) — 788KB
• ppta-20240630xex10d2.htm (EX-10.2) — 100KB
• ppta-20240630xex10d3.htm (EX-10.3) — 9KB
• ppta-20240630xex31d1.htm (EX-31.1) — 12KB
• ppta-20240630xex31d2.htm (EX-31.2) — 12KB
• ppta-20240630xex32d1.htm (EX-32.1) — 6KB
• ppta-20240630xex32d2.htm (EX-32.2) — 5KB
• ppta-20240630x10q004.jpg (GRAPHIC) — 8KB
• 0001104659-24-087827.txt ( ) — 6543KB
• ppta-20240630.xsd (EX-101.SCH) — 42KB
• ppta-20240630_cal.xml (EX-101.CAL) — 34KB
• ppta-20240630_def.xml (EX-101.DEF) — 208KB
• ppta-20240630_lab.xml (EX-101.LAB) — 366KB
• ppta-20240630_pre.xml (EX-101.PRE) — 316KB
• ppta-20240630x10q_htm.xml (XML) — 854KB

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 18 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 25 Item 4.

Controls and Procedures

Controls and Procedures 25 PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 26 Item 1A.

Risk Factors

Risk Factors 26 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 27 Item 3. Defaults Upon Senior Securities 27 Item 4. Mine Safety Disclosures 27 Item 5. Other Information 27 Item 6. Exhibits 28 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) June 30, December 31, 2024 2023 ASSETS CURRENT ASSETS Cash and cash equivalents $ 1,882,785 $ 3,229,462 Receivables 7,609,136 3,181,152 Prepaid expenses 754,752 443,312 10,246,673 6,853,926 NON-CURRENT ASSETS Buildings and equipment, net 504,899 385,049 Right-of-use assets 60,722 27,898 Environmental reclamation bond (Note 5) 3,000,000 3,000,000 Mineral properties and interest (Note 3) 64,485,250 72,820,365 TOTAL ASSETS $ 78,297,544 $ 83,087,238 LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES Trade and other payables $ 4,326,321 $ 4,997,226 Lease liabilities 60,721 27,897 CWA settlement payable (Note 6) 1,500,000 2,000,000 Environmental reclamation liabilities (Note 5) 786,972 764,607 6,674,014 7,789,730 NON-CURRENT LIABILITIES CWA settlement payable (Note 6) 3,000,000 3,000,000 TOTAL LIABILITIES 9,674,014 10,789,730 COMMITMENTS AND CONTINGENCIES (Note 6) SHAREHOLDERS' EQUITY (Note 4) Common shares, no par value, unlimited shares authorized, 64,593,552 and 64,123,456 shares outstanding, respectively 621,022,849 618,581,910 Additional paid-in capital 34,916,885 34,413,562 Accumulated deficit ( 587,316,204 ) ( 580,697,964 ) TOTAL SHAREHOLDERS' EQUITY 68,623,530 72,297,508 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 78,297,544 $ 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 June 30, For the six months ended June 30, 2024 2023 2024 2023 EXPENSES Corporate salaries and benefits $ 579,431 $ 421,185 $ 1,046,178 $ 812,168 Depreciation 31,392 18,748 57,753 35,702 Directors' fees 54,449 58,848 317,082

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View this 10-Q filing on SEC EDGAR