Perpetua Resources (PPTA) said Monday that its Idaho unit has signed a non-binding and non-exclusive memorandum of understanding with Sunshine Silver Mining & Refining to explore antimony processing possibilities.
Financial terms of the agreement were not disclosed.
Testing will assess the technical potential for processing and refining antimony from the Stibnite Gold Project in Idaho at the Sunshine Mine Complex, Perpetua said.
Antimony is a metal used in alloys, often for munitions or semiconductors. It is primarily produced in China, which this month announced a ban on exports to the US.
Shares of Perpetua were up more than 7% in recent Monday premarket activity.
Price: 13.16, Change: +0.92, Percent Change: +7.52
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