According to the Complaint, Perpetua Resources Corp. is a development-stage company engaged in acquiring mining properties to move them into production where warranted. This class action was filed against Perpetua and two of its Officers.

During the Class Period, Defendants provided investors with material information concerning Perpetua’s expected initial capital expenditure for the Stibnite Gold Project. Defendants’ statements included, among other things, minimization of the impact of inflation and other potential sources for increased capital expenditure costs for the project.

The Complaint alleges Defendants provided these overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true cost of the Stibnite Gold Project; notably, the true impact of inflation and undisclosed decisions Defendants had made or were otherwise contemplating which had resulted in a drastic increase in projected initial capital expense.