0001104659-26-058253
SEC filingPerpetua Resources reported significantly wider losses in Q1 FY2026 versus Q1 FY2025, driven by stepped-up exploration and pre-development activity ahead of final investment decision; free cash flow reflected both operating outflows and increased capital deployment.
Capital expenditures totaled $19.4M in Q1 FY2026, a sharp increase from $18,019 in Q1 FY2025. This reflects deliberate acceleration of long-lead procurement and engineering activities, including agreements with Idaho Power Company to increase electrical capacity at the site. Net cash used in operating activities was -$27.0M, nearly flat versus -$25.6M in the prior-year quarter. The modest change in operating cash outflow despite materially higher losses suggests timing-related working capital movements — however, no specific payables or deposit figures are supported in the authoritative packet and are excluded.
Liquidity remains anchored in cash and liquid short-term investments, as stated in Management’s Discussion. The Company expects to finance the majority of capital costs through existing cash on hand and U.S. project financing, including the pending U.S. EXIM loan. While management notes that board-approved costs are subject to change due to cost overruns, litigation, weather, or other unbudgeted events, no specific cash balance, budget amount, or loan approval timeline is present in the authoritative financial packet and therefore cannot be cited. The outlook acknowledges uncertainty: 'We believe our Project financing plans will be successful, although there can be no assurance that the Company will successfully complete all of its contemplated plans because these plans are not entirely within our control as of the date hereof.'