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New CEO Appointment Timely for Project Development, Analyst Says
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Perpetua Resources Corp. announced the appointment of new CEO Jon Cherry, according to Roth MKM research note.

Perpetua Resources Corp. (PPTA:TSX; PPTA:NASDAQ) announced the appointment of new CEO Jon Cherry, according to Roth MKM analyst Mike Niehuser in a March 14 research note.

Niehuser wrote that he had foresaw this change upon permitting later in the year. "The appointment of Jon Cherry as CEO, ahead of the Record of Decision, demonstrates PPTA's confidence in receiving permits," Niehuser said.

The company noted that former CEO Laural Sayer will stay as an advisor until April 2025 to ensure an easy transition for Perpetua. 

"We view the appointment favorably as a timely and natural addition necessary for the development of the project," Niehuser commented.

Niehuser also pointed out Cherry's robust background, which includes over 33 years of experience. The report noted that in the past, Cherry had been the CEO of PolyMet before its sale to Glencore Plc., a senior leader in Resolution Copper's joint venture project with Rio Tinto and BHP Group Ltd, a general manager for RIO Eagle Mine, and a senior project engineer at Rio Tinto's Kennecott Utah Copper. 

With this, Niehuser wrote that he believes Cherry's extensive experience in the field might give Perpetua the ability "to advance the project to
operation and to meet unexpected challenges."

The report also stated that they believe the management team at PPTA possesses the exceptional skills and expertise necessary to navigate the complex permitting process for the Stibnite Gold Project. Niehuster believes that by actively reaching out to and collaborating with stakeholders at all levels — local, regional, and federal — PPTA was able to secure a rare and valuable opportunity. 

Niehuser also stated that while confident in Cherry's ability, he is excited to meet Cherry and see how this project is handled moving forward.

With this, Niehuser maintained his Buy rating, and US$7.25 target price on the stock. 

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Important Disclosures:

  1. Perpetua Resources Corp. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000.
  2.  This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. 

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Disclosures for Roth MKM, Perpetua Resources Corp., March 14, 2024

Regulation Analyst Certification ("Reg AC"): The research analyst primarily responsible for the content of this report certifies the following under Reg AC: I hereby certify that all views expressed in this report accurately reflect my personal views about the subject company or companies and its or their securities. I also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.

Disclosures: Shares of Perpetua Resources Corp. may be subject to the Securities and Exchange Commission's Penny Stock Rules, which may set forth sales practice requirements for certain low-priced securities.

ROTH Capital Partners, LLC expects to receive or intends to seek compensation for investment banking or other business relationships with the covered companies mentioned in this report in the next three months. The material, information and facts discussed in this report other than the information regarding ROTH Capital Partners, LLC and its affiliates, are from sources believed to be reliable, but are in no way guaranteed to be complete or accurate. This report should not be used as a complete analysis of the company, industry or security discussed in the report. Additional information is available upon request. This is not, however, an offer or solicitation of the securities discussed. Any opinions or estimates in this report are subject to change without notice. An investment in the stock may involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Additionally, an investment in the stock may involve a high degree of risk and may not be suitable for all investors. No part of this report may be reproduced in any form without the express written permission of ROTH. Copyright 2024. Member: FINRA/SIPC.

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