10 Firms Stealing the Spotlight; 4 Are Climbing to Record Highs

2. Perpetua Resources Corp. (NASDAQ:PPTA)

Perpetua Resources soared by 13.42 percent on Thursday to close at $29.15 apiece as investors continued to load up portfolios following the Federal Reserve’s interest rate cut.

On Wednesday, the US central bank slashed its benchmark rates by 25 basis points, the third time for the year, sparking a rally across various industries, including mining.

Perpetua Resources Corp. (NASDAQ:PPTA) rallied alongside its counterparts, as they stand to benefit from the rate cut.

Lower interest rates tend to weaken the US dollar, making the dollar-denominated precious metals such as silver and gold much cheaper.

In other news, Perpetua Resources Corp. (NASDAQ:PPTA) joined forces with the Idaho National Laboratory for the commissioning and operations of a flexible, modular pilot processing plant capable of recovering various critical and defense-related minerals, including antimony, from the company’s ores.

The initiative is intended to demonstrate the feasibility of producing high-quality, military specification antimony trisulfide using material from Perpetua’s Stibnite Gold Project, as well as provide opportunities to advance domestic defense mineral processing capabilities and strengthen workforce training in Idaho.

The plant forms part of a broader partnership between Perpetua Resources Corp. (NASDAQ:PPTA) and the US Army through the Defense Ordinance Technology Consortium to secure domestic sources of critical minerals, under which it was awarded additional $6.9 million in DOTC funding, bringing the total awards from the said agency to $22.4 million.