Perpetua Resources (PPTA) Jumps 15.56%, Hits Record High on Antimony Expansion Plans

We recently published 10 Big Names With Explosive Gains That Investors Can’t Ignore. Perpetua Resources Corp. (NASDAQ:PPTA) is one of the companies that soared by double- and triple-digits last week.

Shares of Perpetua Resources soared by 15.56 percent week-on-week to hit a new record high as investor sentiment was boosted by a partnership with four firms to ramp up the supply of a critical mineral for the production of bullets and solar panels, among others.

Last Friday, Perpetua Resources Corp. (NASDAQ:PPTA) jumped to its highest 52-week price of $22.62 before paring gains to finish the day just up by 11.37 percent at $21.16 apiece.

According to a report by Reuters, quoting Perpetua Resources Corp. (NASDAQ:PPTA) CEO Jon Cherry, the company is in talks with Glencore, Trafigura, Clarios, and Sunshine Silver for the refinement of antimony to boost Western supplies of the mineral, which China has blocked exports of.

This followed the green light of the US government a few days earlier for the construction of its antimony and gold mine in Idaho. The site is poised to be the largest antimony supplier in the US.

“We are encouraged by emerging opportunities to expand domestic mineral processing capacity in America and intend to make well-informed, market-based decisions when selecting a partner,” Cherry was quoted as saying.

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Disclosure: None. This article is originally published at Insider Monkey.