Laurence Sayer, President and CEO of Perpetua Resources, has informed the Board of Directors of her intention to resign on March 14, 2024, and as a member of the Board of Directors of the Company. She will retire on April 1, 2025, following seven years of guiding the organization through the permitting process.
Jon Cherry will assume the role of President and CEO of Perpetua Resources, in addition to serving as a member of the Board of Directors, following the appointment of Laurie Sayer by the Board of Directors. Jessica Largent, CFO of Perpetua Resources, has also been appointed to the Board of Directors by the Board of Directors. Mr. Sayer has been appointed as the CEO’s Senior Advisor since March 2025.
Jon Cherry, who has over 33 years of experience in the mining industry, is a valuable addition to Perpetua Resources. His responsibilities include permitting, capital financing, project development, joint venture formation, and operations. He served as Chairman, President, and CEO of PolyMet Mining most recently. The NorthMet project was awarded the highest classification ever given to a mining project by the Environmental Protection Agency during his tenure at PolyMet. Mr. Cherry was also instrumental in the negotiation of a joint venture between Teck Resources and PolyMet prior to the latter’s acquisition by Glencore. Prior to joining Polymet, Mr. Cherry oversaw the Eagle Mine for Rio Tinto, worked as the general manager of the multibillion-dollar Resolution Copper JV Project, and was a senior project engineer at Rio Tinto Kennecott Utah Copper. Mr. Cherry will preside over the Perpetua Resources staff during the permitting phase-out and transition to operations of the Stibnite Gold Project.
Board Restructuring: Mr. Cherry was appointed by the Board of Directors to assume the position vacant caused by Ms. Sayer’s retirement, commencing on March 14, 2024, as part of the leadership transition. In order to provide additional assistance during the transition to the Project’s development and financing phase, Jessica Largent, the Chief Financial Officer of Perpetua Resources, was appointed as a Director by the Board of Directors on March 14, 2024. In anticipation of the organization’s next phase, Ms. Largent’s appointment to the Board of Directors imparts operational finance expertise. Ms. Largent assumed the role of Chief Financial Officer in April 2022 subsequent to her employment as Vice President, Finance and Investor Relations with Perpetua, which commenced in February 2021.
Concerning Perpetua Resources and the Stibnite Gold Initiative
The Stibnite Gold Project comprises the exploration, site restoration, and redevelopment of gold-antimony-silver deposits in the Stibnite-Yellow Pine district of central Idaho, which Perpetua Resources Corp. pursues through its wholly owned subsidiaries. The Project is one of the highest-grade, open pit gold deposits in the United States, and its objective is to restore an abandoned mine site while producing gold and the only exploited source of antimony in the country using a modern, responsible mining approach. The Project will be powered by the nation’s lowest carbon emissions grid, further advancing the ESG and sustainable mining objectives of Perpetua Resources. Additionally, a portion of the antimony generated from the Project will be supplied to Ambri, a U.S.-based company that is commercializing an inexpensive liquid metal battery that is crucial for the transition to low-carbon energy.Perpetua Resources has been granted a Technology Investment Agreement (TIA) featuring DPA Title III funding of up to $59.4 million. This funding is intended to facilitate the Project’s construction readiness and permitting process. Stibnite trisulfide antimony is the only domestic source of antimony known to satisfy U.S. defense requirements for numerous small arms, munitions, and missile varieties. Perpetua Resources has implemented formal environmental, social, and governance (ESG) commitments, which are in addition to the organization’s existing dedication to transparency, accountability, safety, community interest, and environmental stewardship.
