Perpetua Resources (PPTA) 10-Q 12 May 23 2023 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2023	May 05, 2023
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	001-39918
Entity Registrant Name	Perpetua Resources Corp.
Entity Incorporation, State or Country Code	CA
Entity Tax Identification Number	00-0000000
Entity Address, Address Line One	405 S. 8th Street
Entity Address, Address Line Two	Ste 201
Entity Address State Or Province	ID
Entity Address, City or Town	Boise
Entity Address, Postal Zip Code	83702
City Area Code	208
Local Phone Number	901-3060
Title of 12(b) Security	Common Shares, without par value
Trading Symbol	PPTA
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		63,165,367
Entity Central Index Key	0001526243
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Mar. 31, 2023	Dec. 31, 2022
CURRENT ASSETS
Cash and cash equivalents	$ 18,559,712	$ 22,667,047
Receivables	1,360,978	280,150
Prepaid expenses	696,844	614,930
TOTAL CURRENT ASSETS	20,617,534	23,562,127
NON-CURRENT ASSETS
Buildings and equipment, net	278,026	294,980
Right-of-use assets	42,482	68,675
Environmental reclamation bond	3,000,000	3,000,000
Mineral properties and interest	72,519,373	72,519,373
TOTAL ASSETS	96,457,415	99,445,155
CURRENT LIABILITIES
Trade and other payables	2,720,126	2,741,516
Lease liabilities	43,812	70,449
Environmental reclamation liabilities	10,695,372	9,590,766
TOTAL CURRENT LIABILITIES	13,459,310	12,402,731
NON-CURRENT LIABILITIES
Warrant derivative		1,732
Environmental reclamation liabilities	886,177	1,210,170
TOTAL LIABILITIES	14,345,487	13,614,633
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS' EQUITY
Common stock, no par value, unlimited shares authorized, 63,139,533 and 63,011,777 shares outstanding, respectively	616,068,044	615,553,448
Additional paid-in capital	32,570,761	32,203,858
Accumulated deficit	(566,526,877)	(561,926,784)
TOTAL SHAREHOLDERS' EQUITY	82,111,928	85,830,522
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 96,457,415	$ 99,445,155

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2023	Dec. 31, 2022
CONDENSED CONSOLIDATED BALANCE SHEETS
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, shares outstanding	63,139,533	63,011,777

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
EXPENSES
Corporate salaries and benefits	$ 390,983	$ 303,411
Depreciation	16,954	11,466
Directors' fees	221,262	262,948
Exploration	5,706,425	4,560,053
Environmental liability expense	1,118,303
General and administration	162,488	218,573
Professional fees	277,483	745,409
Shareholder and regulatory	151,413	158,973
OPERATING LOSS	8,045,311	6,260,833
OTHER EXPENSES (INCOME)
Change in fair value of warrant derivative	(1,732)	(15,248)
Foreign exchange loss	688	30,751
Grant income	(3,281,711)	0
Interest income	(162,463)	(31,442)
Total other loss (income)	(3,445,218)	(15,939)
NET LOSS	$ 4,600,093	$ 6,244,894
NET LOSS PER SHARE, BASIC	$ 0.07	$ 0.10
NET LOSS PER SHARE, DILUTED	$ 0.07	$ 0.10
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING, BASIC	63,018,308	62,972,155
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING, DILUTED	63,018,308	62,972,155
Warrant derivative
OTHER EXPENSES (INCOME)
Change in fair value of warrant derivative	$ (1,732)	$ (15,248)

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($)	Common Stock	Additional Paid in Capital	Accumulated Deficit	Total
Beginning balance at Dec. 31, 2021	$ 615,359,152	$ 29,454,696	$ (533,213,253)	$ 111,600,595
Beginning balance (in shares) at Dec. 31, 2021	62,971,859
Share based compensation		676,249		676,249
Restricted and performance shares units distributed	$ 12,378	(12,378)
Restricted and performance shares units distributed (in shares)	1,667
Net loss for the period			(6,244,894)	(6,244,894)
Ending balance at Mar. 31, 2022	$ 615,371,530	30,118,567	(539,458,147)	106,031,950
Ending balance (in shares) at Mar. 31, 2022	62,973,526
Beginning balance at Dec. 31, 2022	$ 615,553,448	32,203,858	(561,926,784)	85,830,522
Beginning balance (in shares) at Dec. 31, 2022	63,011,777
Share based compensation		840,827		840,827
Restricted and performance shares units distributed	$ 449,909	(449,909)
Restricted and performance shares units distributed (in shares)	115,256
Exercise of share purchase options	$ 64,687	(24,015)		40,672
Exercise of share purchase options (in shares)	12,500
Net loss for the period			(4,600,093)	(4,600,093)
Ending balance at Mar. 31, 2023	$ 616,068,044	$ 32,570,761	$ (566,526,877)	$ 82,111,928
Ending balance (in shares) at Mar. 31, 2023	63,139,533

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
OPERATING ACTIVITIES:
Net loss	$ (4,600,093)	$ (6,244,894)
Adjustments to reconcile net loss to net cash used in operating activities:
Share based compensation	840,827	676,249
Depreciation	16,954	11,466
Change in fair value of warrant derivative	(1,732)	(15,248)
Environmental liability expense	1,118,303
Unrealized foreign exchange loss	(131)	(555)
Changes in:
Receivables	(1,080,828)	206,251
Prepaid expenses	(81,914)	(11,867)
Trade and other payables	(21,833)	(806,176)
Environmental reclamation liabilities	(337,690)	(499,903)
Net cash used in operating activities	(4,148,137)	(6,684,677)
FINANCING ACTIVITIES:
Proceeds from exercise of share purchase options	40,672
Net cash provided by financing activities	40,672
Effect of foreign exchange on cash and cash equivalents	130	555
Net increase (decrease) in cash and cash equivalents	(4,107,335)	(6,684,122)
Cash and cash equivalents, beginning of period	22,667,047	47,852,846
Cash and cash equivalents, end of period	18,559,712	41,168,724
NONCASH INVESTING AND FINANCING ACTIVITIES
Recognition of operating lease liability and right-of-use asset		78,790
CASH AND CASH EQUIVALENTS
Cash	5,126,811	5,734,237
Investment savings accounts	9,225,915	20,248,248
GICs and term deposits	4,206,986	15,186,239
Total cash and cash equivalents	18,559,712	41,168,724
Warrant derivative
Adjustments to reconcile net loss to net cash used in operating activities:
Change in fair value of warrant derivative	$ (1,732)	$ (15,248)

Nature of Operations and Basis

Nature of Operations and Basis of Presentation	3 Months Ended
	Mar. 31, 2023
Nature of Operations and Basis of Presentation
Nature of Operations and Basis of Presentation	1. Perpetua Resources Corp. (the “Corporation”, the “Company”, “Perpetua Resources” or “Perpetua”) was incorporated on February 22, 2011 under the Business Corporation Act The unaudited condensed consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of Perpetua Resources Corp. and its wholly owned subsidiaries, Perpetua Resources Idaho, Inc. and Idaho Gold Resource Company, LLC. Intercompany transactions and balances have been eliminated. The unaudited condensed consolidated financial statements do not include all disclosures required of annual consolidated financial statements and, accordingly, should be read in conjunction with our annual financial statements for the year ended December 31, 2022. Operating results for the three months ended March 31, 2023 may not be indicative of results expected for the full year ending December 31, 2023. Management estimates that the Company’s 2023 effective tax rate will be 0% due to the Company’s cumulative loss position, historical net operating losses (“NOLs”), and other available evidence related to the Company’s ability to generate taxable income. Accordingly, there is no income tax provision or benefit for the three month period ended March 31, 2023. In the opinion of the Company, the accompanying unaudited condensed consolidated financial statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of the results for the interim periods reported. The Company’s latest liquidity forecast indicates that available cash resources and other sources of liquidity are expected to be exhausted in the first quarter of 2024 due to increases to anticipated costs for the Company’s Administrative Settlement and Order on Consent (“ASAOC”) obligations in 2023. See Note 5 for more information. Although the Company’s current capital resources and liquidity include up to $24.8 million in funding awarded in December 2022 under the TIA pursuant to Title III of the DPA, such funding is available only for the specified costs related to permitting, early restoration activities and advancing construction readiness and is not available to fund the Company’s costs pursuant to its ASAOC obligations and certain corporate expenses. Absent additional financing, the Company would no longer be able to meet its ongoing obligations or progress critical permitting efforts. The Company continues to explore various funding opportunities, which may include the issuance of additional equity, new debt, or project specific debt; government funding; and/or other financing opportunities. Due to increasing costs of the ASAOC restoration obligations resulting in part from rising inflation, and other corporate expenses, we do not expect the Company will have sufficient available resources to discharge its liabilities as they become due or progress critical permitting efforts for at least 12 months from the date hereof. On May 12, 2023, the Company entered into a Controlled Equity Offering SM We believe our plans outlined above to obtain sufficient funding will be successful although there is no certainty that these plans will result in needed liquidity for a reasonable period of time. However, our expectation of incurring significant ASAOC and other costs in the foreseeable future that are not eligible for DPA funding reimbursement and the need for additional funding to further support the development of our planned operations, raise substantial doubt regarding our ability to continue as a going concern for a period of one year after the date that these unaudited condensed consolidated financial statements are issued. These financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the ordinary course of business and do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might result from the outcome of the uncertainties described above. Loss per share Basic loss per share is computed by dividing the net loss by the weighted average number of shares outstanding during the reporting period. Diluted loss per share is computed similar to basic loss per share except that the weighted average shares outstanding are increased to include additional shares for the assumed exercise of share purchase options and warrants, if dilutive. The Company’s potential dilutive shares of common stock include outstanding share purchase options, restricted share units, performance share units, deferred share units and warrants. Potentially dilutive shares as of March 31, 2023 and 2022, are as follows: ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ 2023 2022 Share purchase options ​ 1,778,250 ​ 2,068,650 Share units ​ 1,374,218 ​ 725,675 Warrants 200,000 ​ 200,000 Balance 3,352,468 ​ 2,994,325 ​ All potentially dilutive shares were excluded from the calculation of diluted loss per share as their exercise and conversion would be anti-dilutive.

Recently Issued Accounting Pron

Recently Issued Accounting Pronouncements	3 Months Ended
	Mar. 31, 2023
Recently Issued Accounting Pronouncements
Recently Issued Accounting Pronouncements	2. From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”) that are adopted by the Company as of the specified effective date. Unless otherwise discussed, management believes that the impact of recently issued standards did not or will not have a material impact on the Company’s consolidated financial statements upon adoption.

Mineral Properties and Interest

Mineral Properties and Interest	3 Months Ended
	Mar. 31, 2023
Mineral Properties and Interest
Mineral Properties and Interest	3. The Company’s mineral properties and interest at the Stibnite Gold Project totaled $72,519,373 and $72,519,373 as of March 31, 2023 and December 31, 2022, respectively. The Company’s subsidiaries acquired mineral rights to the Stibnite Gold Project through several transactions. All mineral and surface rights, where applicable, are held by the Company’s subsidiaries through patented and unpatented lode mining claims and mill sites, except the Cinnabar option claims which are held under an option to purchase, and all of the Stibnite Gold Project is subject to a 1.7% net smelter returns royalty upon the sale of project-related production. Included in mineral properties and interest are annual payments made under option agreements, where the Company is entitled to continue to make annual option payments or, ultimately, purchase certain properties. Annual payments due under option agreements during 2023 are $180,000. As of March 31, 2023, it has not yet been determined that the Project’s mining deposits can be economically and legally extracted or produced because the Project’s estimated reserves do not yet meet the definition of proven reserves under the United States Securities and Exchange Commission (“SEC”) Regulation S-K 1300. Accordingly, development costs related to such reserves will not be capitalized unless they are incurred after such determination. Upon commencement of commercial production, capitalized costs will be amortized over their estimated useful lives or units of production, whichever is a more reliable measure. Although the Company has taken steps to review and verify mineral rights to the properties in which it has an interest, in accordance with industry standards for properties in the exploration stage, these procedures do not guarantee the Company’s title and interests. Mineral title may be subject to unregistered prior agreements and noncompliance with regulatory requirements.

Shareholders' Equity

Shareholders' Equity	3 Months Ended
	Mar. 31, 2023
Shareholders' Equity
Shareholders' Equity	4. a. Authorized ● Unlimited number of common shares without par value. ● Unlimited number of first preferred shares without par value. ● Unlimited number of second preferred shares without par value. b. Share based compensation Share based compensation was recognized in the unaudited condensed consolidated statements of operations for the three months ended March 31, 2023 and 2022 as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended March 31, ​ 2023 2022 Exploration ​ $ 372,687 ​ $ 235,683 Corporate salaries and benefits ​ ​ 246,970 ​ ​ 174,385 Directors’ fees ​ ​ 221,170 ​ ​ 266,181 Total ​ $ 840,827 ​ $ 676,249 ​ Share purchase options A summary of share purchase option activity within the Company’s share-based compensation plan (the “Plan”) for the year ended December 31, 2022 and three months ended March 31, 2023 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Number of ​ Weighted Average ​ Options Exercise Price (C$) Balance December 31, 2021 2,497,150 ​ $ 9.15 Options expired (305,000) ​ 8.71 Options cancelled or forfeited (246,500) ​ 9.11 Balance December 31, 2022 1,945,650 ​ $ 9.23 Options exercised (12,500) ​ 4.40 Options cancelled or forfeited (6,000) ​ 9.93 Options expired ​ (148,900) ​ ​ 6.19 Balance March 31, 2023 1,778,250 ​ $ 9.52 ​ During the three months ended March 31, 2023 and 2022, the Company’s total share based compensation from options was $80,320 (2022: $252,900), respectively. No options were granted during the three months ended March 31, 2023 nor 2022. During the three months ended March 31, 2023, the intrinsic value of share purchase options exercised was $12,470. An analysis of outstanding share purchase options as of March 31, 2023 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Options Outstanding Options Exercisable Range of Exercise ​ ​ ​ ​ ​ ​ Remaining ​ ​ ​ ​ ​ ​ Remaining Prices (C$) Number Price (C$) 1 Life 2 Number Price (C$) 1 Life 2 $3.50 - $6.02 57,500 ​ ​ 3.70 1.98 ​ 45,000 ​ ​ 3.50 1.97 $6.03 - 11.80 1,720,750 ​ ​ 9.71 2.07 ​ 1,425,500 ​ ​ 9.47 1.91 $3.50 - $11.80 1,778,250 ​ ​ 9.52 2.07 ​ 1,470,500 ​ ​ 9.29 1.91 1 2 As of March 31, 2023, all unvested options are expected to vest and unvested compensation of $246,443 will be recognized. The weighted average remaining amortization period of vested options is 0.75 years. As of March 31, 2023, the intrinsic value of outstanding and exercisable share purchase options is $98,834 and $83,859, respectively. Restricted Share Units The following table summarizes activity for restricted share units (“RSUs”) awarded under the Plan that vest over the required service period of the participant. ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ Share ​ Grant Date ​ ​ Units Fair Value Unvested, December 31, 2021 ​ 42,334 $ 5.66 Granted ​ 370,098 ​ 4.04 Distributed (vested) ​ (36,168) ​ 5.00 Cancelled ​ (4,308) ​ 4.03 Unvested, December 31, 2022 ​ 371,956 ​ $ 4.13 Granted ​ 370,039 ​ ​ 3.42 Distributed (vested) ​ (108,006) ​ ​ 4.02 Cancelled ​ (4,453) ​ ​ 3.77 Unvested, March 31, 2023 ​ 629,536 ​ $ 3.73 ​ During the three months ended March 31, 2023, the Company awarded 370,039 RSUs (2022: 330,098 RSUs), with a weighted average grant date fair value of $3.42 per RSU (2022: $4.03), or approximately $1.3 million in total (2022: $1.3 million). During the three months ended March 31, 2023 and 2022, the Company has recognized $299,628 and $110,740, respectively, in compensation expense related to RSUs and expects to record an additional $1.7 million in compensation expense over the next 1.74 years. The unvested units of March 31, 2023 are scheduled to vest as follows: ​ ​ ​ ​ Remainder of 2023 38,618 2024 ​ 239,540 2025 228,660 2026 ​ 122,718 Total 629,536 ​ Unvested units will be forfeited by participants upon termination of employment in advance of vesting, with the exception of termination due to retirement if certain criteria are met. ​ Performance Share Units The following table summarizes activity for performance share units (“PSUs”) and market-based performance share units (“MPSUs”) awarded under the Plan: ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ Share ​ Grant Date ​ ​ Units ​ Fair Value Unvested, December 31, 2021 10,750 $ 5.66 Granted 267,451 6.73 Distributed (3,750) 3.42 Cancelled (11,185) 5.83 Unvested, December 31, 2022 263,266 $ 6.77 Granted ​ 277,535 ​ ​ 5.98 Distributed ​ (7,250) ​ ​ 2.02 Cancelled ​ (1,619) ​ ​ 6.60 Unvested, March 31, 2023 ​ 531,932 ​ $ 6.42 ​ During the three months ended March 31, 2023 and 2022, the Company has recognized $220,558 and $55,666, respectively, in compensation expense related to PSUs and MPSUs and expects to record an additional $2.7 million in compensation expense over the next 2.53 years. The unvested units of March 31, 2023 are scheduled to vest as follows: ​ ​ ​ ​ Remainder of 2023 7,500 2024 — 2025 247,524 2026 276,908 Total 531,932 ​ PSUs Market-based PSUs During the three months ended March 31, 2023, the Company awarded 277,535 MPSUs (2022: 249,951 MPSUs) that had a weighted grant date fair value of $5.98 (2022: $6.99) per MPSU or approximately $1.65 million (2022: $1.75 million) in total. The grant date fair value of MPSUs was estimated using a Monte Carlo simulation model. Assumptions and estimates utilized in the model include expected volatilities of the Corporation’s share price and the GDXJ Index, the Company’s risk-free interest rate and expected dividends. The probabilities of the actual number of MPSUs expected to vest and resultant actual number of shares of common stock expected to be awarded are reflected in the grant date fair values of the various MPSU awards. The per MPSU grant date fair value for the market condition was based on the following variables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2022 ​ Grant date fair value ​ $ 5.98 ​ $ 6.99 ​ Risk-free interest rate ​ ​ 4.15 % ​ 1.61 % Expected term (in years) ​ ​ 3.0 ​ 3.0 ​ Expected share price volatility ​ ​ 65.74 % ​ 63.35 % Expected dividend yield ​ ​ — ​ — ​ ​ The expected volatility utilized is based on the historical volatilities of the Corporation’s common stock and the GDXJ Index in order to model the stock price movements. The volatility used was calculated over the most recent three year period. The risk-free interest rates used are based on the implied yield available on a U.S. Treasury zero-coupon bill with a term equivalent to the Performance Period. The expected dividend yield of zero was used since it is the mathematical equivalent to reinvesting dividends in each issuing entity over the Performance Period. Deferred Share Units The following table summarizes activity for deferred share units (“DSUs”) awarded under the Plan: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ Share ​ Grant Date ​ Units Fair Value Outstanding, December 31, 2021 ​ 29,213 ​ $ 5.39 Granted ​ 116,462 ​ ​ 3.42 Outstanding, December 31, 2022 145,675 ​ 3.82 Granted 67,075 ​ 3.58 Outstanding, March 31, 2023 212,750 ​ 3.75 ​ Under the Plan, the Company may issue DSUs to non-employee directors. During the three months ended March 31, 2023 and 2022, 67,075 and 62,669 shares, respectively with a fair value of $240,321 and $256,943 were granted to the non-employee directors and the related compensation expense was charged to directors’ fees in the unaudited condensed consolidated statements of operations. c. Warrants There was a total of 200,000 warrants outstanding as of March 31, 2023 that expire on May 9, 2023.

Environmental Reclamation Liabi

Environmental Reclamation Liabilities	3 Months Ended
	Mar. 31, 2023
Environmental Reclamation Liabilities
Environmental Reclamation Liabilities	5. Environmental Reclamation Liability On January 15, 2021, the Company agreed to an Administrative Settlement and Order on Consent (“ASAOC”). The Company has accounted for its obligation under the ASAOC as an environmental reclamation liability. The aggregate cost of the obligation was estimated to be approximately $7,473,805. Upon the signing of the ASAOC, the Company recorded an immediate expense of $7,473,805 and a corresponding environmental reclamation liability. The provision for the liability associated with the terms of the ASAOC is based on cost estimates developed with the use of engineering consultants, independent contractor quotes and the Company’s internal development team. The timing of cash flows is based on the latest schedule for early action items. The estimated environmental reclamation liability may be subject to change based on changes to cost estimates and is adjusted for actual work performed. On April 13, 2023, after conducting a competitive bidding process, the Company announced it selected Iron Woman Construction and Environmental Services to conduct certain environmental improvements pursuant to the Company’s obligations under the ASAOC. The contract terms, together with scope changes, inflation and increased estimates for fuel usage related to the restoration activities, resulted in an increase to the Company’s forecasted amounts for ASAOC restoration activities and are additions during the period ended March 31, 2023. Movements in the environmental reclamation liability during the three months ended March 31, 2023 and 2022, are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended March 31, ​ 2023 2022 Balance at beginning of period $ 10,800,936 ​ $ 9,888,200 Additions ​ 1,118,303 ​ — Work performed on early action items ​ (337,690) ​ (499,903) Balance at end of period $ 11,581,549 ​ $ 9,388,297 ​ ​ ​ ​ ​ ​ ​ Current portion $ 10,695,372 ​ $ 3,963,847 Non-current portion ​ ​ 886,177 ​ ​ 5,424,450 Balance at end of period ​ $ 11,581,549 ​ $ 9,388,297 ​ In 2021, the Company provided $7.5 million in financial assurance for Phase 1 projects under the ASAOC. The Company paid $3.0 million in cash collateral for a surety bond related to the ASAOC statement of work in early 2021.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2023
Commitments and Contingencies.
Commitments and Contingencies.	6 . a. Mining Claim Assessments The Company currently holds mining claims on which it has an annual assessment obligation of $275,220 to maintain the claims in good standing. The Company is committed to these payments indefinitely. Related to the mining claims assessments is a $335,000 bond related to the Company’s exploration activities. b. Stibnite Foundation Upon formation of the Stibnite Foundation on February 26, 2019, the Company became contractually liable for certain future payments to the Stibnite Foundation based on several triggering events, including receipt of a Final Record of Decision issued by the USFS, receipt of all permits and approvals necessary for commencement of construction, commercial production, and of the final reclamation phase. These payments could begin as early as the first half of 2024 based on the current permitting schedule and range from $0.1 million to $1 million (upon commencement of final reclamation phase) in cash and 150,000 shares of the Corporation’s common stock. During commercial production, the Company will make payments to the Stibnite Foundation equal to 1% of Total Comprehensive Income less debt repayments, or a minimum of $0.5 million each year. The Stibnite Foundation will support projects that benefit the communities surrounding the Stibnite Gold Project and was created through the establishment of the Community Agreement between Perpetua Resources Idaho, Inc. and eight communities and counties throughout the West Central Mountains region of Idaho. c. Option Payments on Other Properties The Company is obligated to make option payments on mineral properties in order to maintain an option to purchase these properties. As of March 31, 2023, the option payments due on these properties in 2023 are $180,000, which will be paid this year. The agreements include options to extend. d. Off Balance Sheet Arrangements The Company has no off-balance sheet arrangements as of March 31, 2023 and the date of this report. e. Legal Update The Corporation and its subsidiaries are a party to an ongoing legal proceeding with the Nez Perce Tribe for alleged violations of the Clean Water Act (“CWA”) related to historical mining activities. In August 2019, the Nez Perce Tribe filed suit in the United States District Court for the District of Idaho. The Corporation promptly filed a motion to dismiss and, in the alternative, a motion to stay the litigation. Both motions were denied. Subsequently, the Corporation filed an answer denying liability which, later, the court allowed the Corporation to amend and file a third-party complaint against the Forest Service. The Corporation also filed a separate CWA citizen suit against the United States Forest Service (“USFS” or “Forest Service”) alleging that several of the point source discharges, as alleged by the Nez Perce Tribe in its complaint, were occurring on lands owned and controlled by the United States. Pursuant to the terms of the voluntary ASAOC executed with the U.S. EPA and the United States Department of Agriculture, the Corporation agreed to dismiss its pending actions against the Forest Service without prejudice. The remaining parties to the ongoing legal proceeding agreed to stay the litigation and explore Alternative Dispute Resolution (“ADR”) options through court-ordered mediation. The stay has been extended on subsequent occasions, and a request to extend the stay through June 30, 2023 was requested jointly by the Company and the Nez Perce Tribe during a February 21, 2023 status conference and subsequently ordered by the court on the same day. The voluntary CERCLA ASAOC entered into by the Corporation, the U.S. EPA, and the United States Department of Agriculture requires numerous early cleanup actions to occur over the next several years at the Stibnite Gold Project site (the “Stibnite Site”). Perpetua Resources Idaho, Inc. is presently developing and executing the Phase 1 early cleanup actions (known under CERCLA as “time critical removal actions”) that, after final work plan approval by the federal agencies, are being constructed to efficiently improve water quality in a number of areas on the Stibnite Site. Construction of time critical removal actions began in the summer of 2022, and significant progress was achieved to complete the voluntary Phase 1 Stibnite Site cleanup during the limited work season. Other longer-term proposed actions relating to Project operations are being evaluated through the NEPA process.

Government Grants

Government Grants	3 Months Ended
	Mar. 31, 2023
Government Grants
Government Grants	7. Government Grants In September 2022, the Company was awarded two separate funding grants from the U.S. Department of Defense (“DOD”) Defense Logistics Agency (“DLA”) totaling $200,000 to study the domestic production of military-grade antimony trisulfide. During the three months ended March 31, 2023, $74,998 was recognized as grant income for these grants. The Company anticipates recognizing $50,000 of additional grant income over the next nine months. On December 16, 2022, the Company entered into an undefinitized Technology Investment Agreement (“TIA”) with the DOD - Air Force Research Laboratory for an award of up to $24,800,000 under Title III of the Defense Production Act (“DPA”). The funding objective of the TIA is to complete environmental and engineering studies necessary to obtain a Final Environmental Impact Statement, a Final Record of Decision, and other ancillary permits to sustain the domestic production of antimony trisulfide capability for defense energetic materials at the Stibnite Gold Project. Proceeds from the grant will be used primarily to reimburse the Company for certain costs incurred over the next 24 months related to environmental baseline data monitoring, environmental and technical studies and other activities related to advancing the Company’s construction readiness and the permitting process for the Stibnite Gold Project. During the three months ended March 31, 2023, $3,206,713 was recognized as grant income related to the TIA. The Company anticipates recognizing approximately $12,000,000 of additional grant income over the next nine months. Accounting for these DOD grants does not fall under ASC 606, Revenue from Contracts with Customers, as the DOD does not meet the definition of a customer under this standard. The DOD grant proceeds, which will be used to reimburse expenses incurred, meet the definition of grants related to expenses as the primary purpose for the payments is to fund research and development on trisulfides and the advancement of the Company’s Stibnite Gold Project. A total of $3,281,711 grant income was recognized within other income (expense) on the unaudited condensed consolidated statement of operations during the three months ended March 31, 2023. No grant income was recognized during the same period in 2022. At March 31, 2023 and December 31, 2022, grant receivable was $1,172,050 and $50,000, respectively, and is included in receivables on the unaudited condensed consolidated balance sheets.

Nature of Operations and Basi_2

Nature of Operations and Basis of Presentation (Tables)	3 Months Ended
	Mar. 31, 2023
Nature of Operations and Basis of Presentation
Schedule of potentially dilutive shares	​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ 2023 2022 Share purchase options ​ 1,778,250 ​ 2,068,650 Share units ​ 1,374,218 ​ 725,675 Warrants 200,000 ​ 200,000 Balance 3,352,468 ​ 2,994,325 ​

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2023
Schedule of share based compensation recognized in the consolidated statement of operations	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended March 31, ​ 2023 2022 Exploration ​ $ 372,687 ​ $ 235,683 Corporate salaries and benefits ​ ​ 246,970 ​ ​ 174,385 Directors’ fees ​ ​ 221,170 ​ ​ 266,181 Total ​ $ 840,827 ​ $ 676,249 ​
Schedule of options activity	​ ​ ​ ​ ​ ​ ​ ​ ​ Number of ​ Weighted Average ​ Options Exercise Price (C$) Balance December 31, 2021 2,497,150 ​ $ 9.15 Options expired (305,000) ​ 8.71 Options cancelled or forfeited (246,500) ​ 9.11 Balance December 31, 2022 1,945,650 ​ $ 9.23 Options exercised (12,500) ​ 4.40 Options cancelled or forfeited (6,000) ​ 9.93 Options expired ​ (148,900) ​ ​ 6.19 Balance March 31, 2023 1,778,250 ​ $ 9.52 ​
Schedule of option exercise price ranges	An analysis of outstanding share purchase options as of March 31, 2023 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Options Outstanding Options Exercisable Range of Exercise ​ ​ ​ ​ ​ ​ Remaining ​ ​ ​ ​ ​ ​ Remaining Prices (C$) Number Price (C$) 1 Life 2 Number Price (C$) 1 Life 2 $3.50 - $6.02 57,500 ​ ​ 3.70 1.98 ​ 45,000 ​ ​ 3.50 1.97 $6.03 - 11.80 1,720,750 ​ ​ 9.71 2.07 ​ 1,425,500 ​ ​ 9.47 1.91 $3.50 - $11.80 1,778,250 ​ ​ 9.52 2.07 ​ 1,470,500 ​ ​ 9.29 1.91 1 2
Schedule of activity for restricted share units awarded	​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ Share ​ Grant Date ​ ​ Units Fair Value Unvested, December 31, 2021 ​ 42,334 $ 5.66 Granted ​ 370,098 ​ 4.04 Distributed (vested) ​ (36,168) ​ 5.00 Cancelled ​ (4,308) ​ 4.03 Unvested, December 31, 2022 ​ 371,956 ​ $ 4.13 Granted ​ 370,039 ​ ​ 3.42 Distributed (vested) ​ (108,006) ​ ​ 4.02 Cancelled ​ (4,453) ​ ​ 3.77 Unvested, March 31, 2023 ​ 629,536 ​ $ 3.73 ​
Schedule of restricted share units scheduled to vest	​ ​ ​ ​ Remainder of 2023 38,618 2024 ​ 239,540 2025 228,660 2026 ​ 122,718 Total 629,536 ​
Schedule of activity for performance share units	​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ Share ​ Grant Date ​ ​ Units ​ Fair Value Unvested, December 31, 2021 10,750 $ 5.66 Granted 267,451 6.73 Distributed (3,750) 3.42 Cancelled (11,185) 5.83 Unvested, December 31, 2022 263,266 $ 6.77 Granted ​ 277,535 ​ ​ 5.98 Distributed ​ (7,250) ​ ​ 2.02 Cancelled ​ (1,619) ​ ​ 6.60 Unvested, March 31, 2023 ​ 531,932 ​ $ 6.42 ​
Schedule of performance share units scheduled to vest	​ ​ ​ ​ Remainder of 2023 7,500 2024 — 2025 247,524 2026 276,908 Total 531,932 ​
Schedule of activity in deferred share units	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ Share ​ Grant Date ​ Units Fair Value Outstanding, December 31, 2021 ​ 29,213 ​ $ 5.39 Granted ​ 116,462 ​ ​ 3.42 Outstanding, December 31, 2022 145,675 ​ 3.82 Granted 67,075 ​ 3.58 Outstanding, March 31, 2023 212,750 ​ 3.75 ​
MPSU's
Schedule of assumptions to value options and performance shares	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2023 ​ 2022 ​ Grant date fair value ​ $ 5.98 ​ $ 6.99 ​ Risk-free interest rate ​ ​ 4.15 % ​ 1.61 % Expected term (in years) ​ ​ 3.0 ​ 3.0 ​ Expected share price volatility ​ ​ 65.74 % ​ 63.35 % Expected dividend yield ​ ​ — ​ — ​ ​

Environmental Reclamation Lia_2

Environmental Reclamation Liability (Tables)	3 Months Ended
	Mar. 31, 2023
Environmental Reclamation Liabilities
Schedule of movements in the environmental reclamation liability	​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended March 31, ​ 2023 2022 Balance at beginning of period $ 10,800,936 ​ $ 9,888,200 Additions ​ 1,118,303 ​ — Work performed on early action items ​ (337,690) ​ (499,903) Balance at end of period $ 11,581,549 ​ $ 9,388,297 ​ ​ ​ ​ ​ ​ ​ Current portion $ 10,695,372 ​ $ 3,963,847 Non-current portion ​ ​ 886,177 ​ ​ 5,424,450 Balance at end of period ​ $ 11,581,549 ​ $ 9,388,297 ​

Nature of Operations and Basi_3

Nature of Operations and Basis of Presentation (Details)		3 Months Ended
	May 12, 2023 USD ($)	Mar. 31, 2023 USD ($) segment
Nature of Operations and Basis of Presentation
Number of operating segments | segment		1
Effective tax rate		0%
Income tax provision (benefit)		$ 0
Funding awarded under the Technology Investment Agreement		$ 24,800,000
Maximum | Controlled Equity Offering
Nature of Operations and Basis of Presentation
Aggregate offering price	$ 20,000,000
Subsidiaries that control the Stibnite Gold Project.
Nature of Operations and Basis of Presentation
Principal asset percentage of ownership		100%

Nature of Operations and Basi_4

Nature of Operations and Basis of Presentation - Potentially dilutive shares (Details) - shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Nature of Operations and Basis of Presentation
Balance	3,352,468	2,994,325
Share purchase options
Nature of Operations and Basis of Presentation
Balance	1,778,250	2,068,650
Share units
Nature of Operations and Basis of Presentation
Balance	1,374,218	725,675
Warrants
Nature of Operations and Basis of Presentation
Balance	200,000	200,000

Mineral Properties and Intere_2

Mineral Properties and Interest (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Mineral Properties and Interest
Mineral properties and interest	$ 72,519,373	$ 72,519,373
Percentage of net smelter returns royalty	1.70%
Annual payments due under option agreements	$ 180,000

Shareholders' Equity - Authoriz

Shareholders' Equity - Authorized (Details)	3 Months Ended
	Mar. 31, 2023 $ / shares
Shareholders' Equity
Common stock, shares authorized (unlimited)	Unlimited
Common stock, no par value	$ 0
First preferred shares
Shareholders' Equity
Preferred stock, shares authorized (unlimited)	Unlimited
Preferred stock, no par value	$ 0
Second preferred shares
Shareholders' Equity
Preferred stock, shares authorized (unlimited)	Unlimited
Preferred stock, no par value	$ 0

Shareholders' Equity- Share bas

Shareholders' Equity- Share based compensation (Details) - USD ($)	3 Months Ended		12 Months Ended	36 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Mar. 05, 2025
Shareholders' Equity
Share based compensation	$ 840,827	$ 676,249
Share based compensation
Shareholders' Equity
Grant date fair value of options granted	$ 12,470
Restricted Share Units
Shareholders' Equity
Weighted average grant date fair value	$ 3.42	$ 4.03	$ 4.04
Share based compensation	$ 299,628	$ 110,740
Unvested compensation not yet recognized	$ 1,700,000
Performance Share Units
Shareholders' Equity
Total fair value of units awarded			$ 30,225
Share units granted	0	7,500
Deferred Share Units
Shareholders' Equity
Share units granted	67,075	62,669
Grant date fair value of options granted	$ 240,321	$ 256,943
MPSU's
Shareholders' Equity
Weighted average grant date fair value	$ 5.98	$ 6.99
Total fair value of units awarded	$ 1,650,000	$ 1.75
Performance Period				3 years
Share units granted	277,535	249,951
MPSU's | Minimum
Shareholders' Equity
Vesting right percentage				0%
MPSU's | Maximum
Shareholders' Equity
Vesting right percentage				200%
PSUs and MPSUs
Shareholders' Equity
Weighted average grant date fair value	$ 5.98		$ 6.73
Share based compensation	$ 220,558	$ 55,666
Unvested compensation not yet recognized	$ 2,700,000

Shareholders' Equity - Share ba

Shareholders' Equity - Share based compensation recognized in Consolidated Statement of Operations (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Shareholders' Equity
Share based compensation	$ 840,827	$ 676,249
Exploration
Shareholders' Equity
Share based compensation	372,687	235,683
Corporate salaries and benefits
Shareholders' Equity
Share based compensation	246,970	174,385
Director's fees
Shareholders' Equity
Share based compensation	$ 221,170	$ 266,181

Shareholders' Equity - Share pu

Shareholders' Equity - Share purchase options (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Shareholders' Equity
Share based compensation	$ 840,827	$ 676,249
Intrinsic value of share purchase options exercised	1,300,000	1,300,000
Stock Option Plan
Shareholders' Equity
Unvested compensation not yet recognized	246,443
Stock Option Plan | Share purchase options
Shareholders' Equity
Share based compensation	$ 80,320	$ 252,900
Granted	0	0
Intrinsic value of outstanding share purchase options	$ 98,834
Intrinsic value of exercisable share purchase options	$ 83,859

Shareholders' Equity - Share _2

Shareholders' Equity - Share purchase option activity within the Company's share-based compensation plan (Details) - Stock Option Plan - Share purchase options - $ / shares	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Number of Options
Balance, beginning of the year	1,945,650	2,497,150	2,497,150
Options granted	0	0
Options expired	(148,900)		(305,000)
Options cancelled or forfeited	(6,000)		(246,500)
Options exercised	(12,500)
Balance, end of the year	1,778,250		1,945,650
Weighted Average Exercise Price (C$)
Balance, beginning of the year, Weighted Average Exercise Price	$ 9.23	$ 9.15	$ 9.15
Options expired, Weighted Average Exercise Price	6.19		8.71
Options cancelled or forfeited, Weighted Average Exercise Price			9.11
Options exercised, Weighted Average Exercise Price	4.40
Options cancelled or forfeited, Weighted Average Exercise price	9.93
Balance, end of the year, Weighted Average Exercise Price	$ 9.52		$ 9.23

Shareholders' Equity- Weighted

Shareholders' Equity- Weighted average inputs used in the Black-Scholes option pricing model (Details) - MPSU's - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Weighted average inputs used in the Black-Scholes option pricing model
Grant date fair value	$ 5.98	$ 6.99
Risk-free interest rate	4.15%	1.61%
Expected term (in years)	3 years	3 years
Expected share price volatility	65.74%	63.35%

Shareholders' Equity - Analysis

Shareholders' Equity - Analysis of outstanding share purchase options (Details) - Stock Option Plan - Share purchase options - $ / shares	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Shareholders' Equity
Options Outstanding, Number	1,778,250	1,945,650	2,497,150
Options Outstanding, Price	$ 9.52	$ 9.23	$ 9.15
$3.50 - $6.02
Shareholders' Equity
Range of Exercise Prices, minimum	3.50
Range of Exercise Prices, maximum	$ 6.02
Options Outstanding, Number	57,500
Options Outstanding, Price	$ 3.70
Options Outstanding, Remaining Life	1 year 11 months 23 days
Options Exercisable, Number	45,000
Options Exercisable, Price	$ 3.50
Options Exercisable, Remaining Life	1 year 11 months 19 days
$6.03 - 11.80
Shareholders' Equity
Range of Exercise Prices, minimum	$ 6.03
Range of Exercise Prices, maximum	$ 11.80
Options Outstanding, Number	1,720,750
Options Outstanding, Price	$ 9.71
Options Outstanding, Remaining Life	2 years 25 days
Options Exercisable, Number	1,425,500
Options Exercisable, Price	$ 9.47
Options Exercisable, Remaining Life	1 year 10 months 28 days
$3.50 - $11.80
Shareholders' Equity
Range of Exercise Prices, minimum	$ 3.50
Range of Exercise Prices, maximum	$ 11.80
Options Outstanding, Number	1,778,250
Options Outstanding, Price	$ 9.52
Options Outstanding, Remaining Life	2 years 25 days
Options Exercisable, Number	1,470,500
Options Exercisable, Price	$ 9.29
Options Exercisable, Remaining Life	1 year 10 months 28 days

Shareholders' Equity - Activity

Shareholders' Equity - Activity for restricted share units awarded (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Shareholders' Equity
Unvested shares balance at end of the year	531,932
Share based compensation	$ 840,827	$ 676,249
Restricted Share Units
Shareholders' Equity
Unvested shares balance at beginning of the year	371,956	42,334	42,334
Granted (in shares)	370,039	330,098	370,098
Distributed (vested), Shares	108,006		36,168
Cancelled (in shares)	(4,453)		(4,308)
Unvested shares balance at end of the year	629,536		371,956
Unvested, Weighted Average Grant Date Fair Value, balance at beginning of the year	$ 4.13	$ 5.66	$ 5.66
Granted, Weighted Average Grant Date Fair Value	3.42	$ 4.03	4.04
Distributed (vested), Weighted Average Grant Date Fair Value	4.02		5
Cancelled, Weighted Average Grant Date Fair Value	3.77		4.03
Unvested, Weighted Average Grant Date Fair Value, balance at end of the year	$ 3.73		$ 4.13
Share based compensation	$ 299,628	$ 110,740
Unvested compensation not yet recognized	$ 1,700,000
Options Exercisable, Remaining Life	1 year 8 months 26 days

Shareholders' Equity - Restrict

Shareholders' Equity - Restricted share units scheduled to vest (Details) - shares	Mar. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Shareholders' Equity
Remainder of 2023	7,500
2025	247,524
2026	276,908
Total	531,932
Restricted Share Units
Shareholders' Equity
Remainder of 2023	38,618
2024	239,540
2025	228,660
2026	122,718
Total	629,536	371,956	42,334
PSUs and MPSUs
Shareholders' Equity
Total	531,932	263,266	10,750

Shareholders' Equity - Activi_2

Shareholders' Equity - Activity for Performance share units (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Shareholders' Equity
Unvested shares balance at end of the year	531,932
Share based compensation	$ 840,827	$ 676,249
Stock Option Plan
Shareholders' Equity
Unvested compensation not yet recognized	$ 246,443
Unvested compensation period for recognition	9 months
Performance Share Units
Shareholders' Equity
Total fair value of units awarded			$ 30,225
PSUs and MPSUs
Shareholders' Equity
Unvested shares balance at end of the year	531,932		263,266
Granted (in shares)	277,535		267,451
Distributed (vested), Shares	(7,250)		(3,750)
Cancelled (in shares)	(1,619)		(11,185)
Unvested shares balance at beginning of the year	263,266	10,750	10,750
Unvested, Weighted Average Grant Date Fair Value, balance at beginning of the year	$ 6.77	$ 5.66	$ 5.66
Granted, Weighted Average Grant Date Fair Value	5.98		6.73
Distributed (vested), Weighted Average Grant Date Fair Value	2.02		3.42
Cancelled, Weighted Average Grant Date Fair Value	6.60		5.83
Unvested, Weighted Average Grant Date Fair Value, balance at end of the year	$ 6.42		$ 6.77
Share based compensation	$ 220,558	$ 55,666
Unvested compensation not yet recognized	$ 2,700,000
Unvested compensation period for recognition	2 years 6 months 10 days

Shareholders' Equity- weighte_2

Shareholders' Equity- weighted average inputs used in the Monte Carlo simulation model (Details) - MPSU's - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Shareholders' Equity
Grant date fair value	$ 5.98	$ 6.99
Risk-free interest rate	4.15%	1.61%
Expected term (in years)	3 years	3 years
Expected share price volatility	65.74%	63.35%

Shareholders' Equity - Activi_3

Shareholders' Equity - Activity for deferred share units (Details) - Deferred Share Units - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Shareholders' Equity
Balance, beginning of the year	145,675	29,213
Granted	67,075	116,462
Balance, end of the year	212,750	145,675
Balance, beginning of the year, Weighted Average Exercise Price	$ 3.82	$ 5.39
Granted, Weighted Average Exercise Price	3.58	3.42
Balance, end of the year, Weighted Average Exercise Price	$ 3.75	$ 3.82

Shareholders' Equity - Warrants

Shareholders' Equity - Warrants (Details)	Mar. 31, 2023 shares
Shareholders' Equity
Number of warrants outstanding	200,000

Environmental Reclamation Lia_3

Environmental Reclamation Liabilities (Details) - USD ($)		3 Months Ended
	Jan. 15, 2021	Mar. 31, 2023	Dec. 31, 2021
Environmental Reclamation Liabilities
Aggregate undiscounted cost of the obligation	$ 7,473,805
Environmental liability expense	7,473,805	$ 1,118,303
Payment for cash collateral			$ 7,500,000
Cash collateral for a surety bond	$ 3,000,000

Environmental Reclamation Lia_4

Environmental Reclamation Liabilities - Movements in the environmental reclamation liability (Details) - USD ($)		3 Months Ended
	Jan. 15, 2021	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Environmental Reclamation Liabilities
Balance at beginning of period		$ 10,800,936	$ 9,888,200
Additions	$ 7,473,805	1,118,303
Work performed on early action items		(337,690)	(499,903)
Current portion		10,695,372	3,963,847	$ 9,590,766
Non-current portion		886,177	5,424,450	$ 1,210,170
Balance at end of period		$ 11,581,549	$ 9,388,297

Commitments and Contingencies (

Commitments and Contingencies (Details)	Feb. 26, 2019 USD ($) community shares	Mar. 31, 2023 USD ($)
Commitment and Contingencies
Off-balance sheet arrangements		$ 0
Stibnite Foundation
Commitment and Contingencies
Capital commitments payable in share | shares	150,000
Percentage of Total Comprehensive Income payable	1%
Minimum payments to be made during commercial production	$ 500,000
Number of communities with whom Community Agreement was established | community	8
Stibnite Foundation | Minimum
Commitment and Contingencies
Commitments payable	$ 100,000
Stibnite Foundation | Maximum
Commitment and Contingencies
Commitments payable	$ 1,000,000
Mining Claim Assessments
Commitment and Contingencies
Annual assessment obligation		275,220
Bond issued		335,000
Option Payments On Other Properties
Commitment and Contingencies
Commitments payable		$ 180,000

Government Grants (Details)

Government Grants (Details)	1 Months Ended	3 Months Ended
	Sep. 30, 2022 USD ($) item	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)	Dec. 16, 2022 USD ($)
Government Assistance
Grant income		$ 3,281,711	$ 0
Government grants receivable		$ 1,172,050		$ 50,000
Government Assistance Current Statement Of Financial Position Extensible Enumeration Not Disclosed Flag		true
Other income (expense)
Government Assistance
Grant income		$ 3,281,711
TIA
Government Assistance
Estimated additional grant income		$ 12,000,000
Period for receiving additional grant income		9 months
TIA | Maximum
Government Assistance
Amount of grants awarded					$ 24,800,000
TIA | Other income (expense)
Government Assistance
Grant income		$ 3,206,713
U.S. Department of Defense ("DoD") Defense Logistics Agency
Government Assistance
Number of grants awarded | item	2
Amount of grants awarded	$ 200,000
Estimated additional grant income		$ 50,000
Period for receiving additional grant income		9 months
U.S. Department of Defense ("DoD") Defense Logistics Agency | Other income (expense)
Government Assistance
Grant income		$ 74,998