As part of our series: Gold, Bitcoin, Commodities, Agriculture, Real Estate: Diversification Is Key — But How Much and Where? 🪙 

📌 The Trigger: Big Buy from The Big Short

John Paulson — yes, that John Paulson — just pulled the trigger on a giant addition to his position in Perpetua Resources. The hedge fund legend accumulated:

🗓️ Trade Date: 2025-06-16
📊 Shares: +7,575,757
💵 Price: $13.20
💰 Total: ~$100 million
📈 New Ownership Stake: 31% of the company!

That's not just conviction — that’s guts, gold, and a glittery gut feeling.

🧠 What’s Paulson Thinking?

Let’s peek at his portfolio (pre-addition):

Despite already being up big, Paulson just doubled down. That’s either high confidence or he’s mining with a crystal ball. 🔮

🏛️ Institutional Support? Mixed Bag.

Paulson owns nearly a third of the company now. Others are on board — but no one’s as gung-ho:

📉 Institutional ownership overall was just 61.6% pre-addition. (Encompass Capital Advisors, LLC might also have increased its stake to close to 5% | to be confirmed.) Paulson’s clearly in the driver’s seat here. 🛞 

🔍 For full Institutional Ownership breakdown, see here.

🏔️ Meet the Rock Star: Perpetua’s Stibnite Gold Project

📍 Located in Idaho
🎯 Largest independent U.S. gold reserve (4.8 Moz)
⚒️ Only U.S. source of antimony, a critical mineral for energy & defense
💵 Ultra-low AISC: $435/oz (thanks to antimony by-product credits)
🌱 Plan includes reforesting, restoring rivers, and removing toxic legacy tailings

Yes, it’s a gold mine that wants to leave the forest better than it found it. 🌲💛

🧪 What Is Antimony, Anyway?

Antimony isn’t just a spelling bee nightmare.

✅ It's critical to U.S. national security
✅ Used in semiconductors, EVs, ammunition
✅ U.S. has zero domestic supply
✅ China and Russia control 70%+ of the global market
⚠️ China announced export controls starting 2024

🇺🇸 Perpetua could end up supplying ~35% of U.S. demand from a single site in Idaho.

📈 Valuation: Still Room to Climb?

Perpetua trades at just 0.3x NAV — compare that to peers:

Even a move to 0.6x NAV would mean a doubling in price. 🪙📈

📆 Near-Term Catalysts

✅ Final EIS & Record of Decision ✅
✅ Idaho SPEED Act ✅
✅ White House Priority Project ✅
✅ $80M+ in DoD & EXIM funding ✅
✅ Inclusion in gold miner indices ✅
✅ Construction decision in 2025 🚧
✅ Operations to begin in 2028 🏗️

📊 Financial Highlights

Scenario 1 (Gold $2,100, Silver $27, Antimony $10/lb)
🧾 NPV: $1.39B
💰 IRR: 15.4%
📆 Payback: 3.2 years

Scenario 2 (Gold $2,900, Antimony $21)
🧾 NPV: $3.65B
💰 IRR: 27.1%
📆 Payback: 2.2 years

Either way, the math glitters. ✨

👉 Want the full picture? Dive into Perpetua Resources’s financials here.

🌈 ESG + ROI?

✅ Reforesting
✅ Reclaiming toxic waste sites
✅ Restoring miles of blocked river habitat
✅ Supporting rural communities
✅ Establishing a new U.S. strategic mineral reserve

Save the planet while stacking gold? Investor nirvana. 💚🌎📈

🐘 But Let’s Talk Risks

1. It’s a development-stage project — nothing’s producing yet

2. Antimony prices can be volatile (especially if... China plays nice?)

3. Project timelines are long

4. Environmental opposition is always possible

5. NPV discount isn’t 90%... or even 50%

6. Idaho could declare independence (kidding… we think 🪖)

7. And yes, alien invasion remains on the risk radar 🛸

🧾 Final Word

John Paulson's not here for small wins. And if you trust his instincts, Perpetua might just be the rare micro-cap gold play worth exploring.

But remember: This is gold with drama. Long timelines, political dependencies, critical minerals, and lots of capital at stake.

Still, for those looking for a speculative winner with glittery upside and a sustainable twist — it might be worth adding to your watchlist. Or even your portfolio.

Disclaimer: This is not investment advice. It’s a fun, slightly obsessive look at a very shiny development-stage company. Please consult your financial antimony-guru before you invest. See “Cautionary Note and Technical Disclosure” in Perpetua's financial statements for full alleviation of potential mirage-building applications. 

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