Schedule 13G/A: Encompass, Kantor Disclose 3.36% of PPTA

Rhea-AI Filing Summary

Perpetua Resources Corp. (PPTA) received a Schedule 13G/A filing showing that Encompass Capital Advisors LLC and its managing member, Todd J. Kantor, report shared beneficial ownership of 3,608,369 common shares, representing 3.36% of the class. The filing states shared voting and dispositive power over these shares and affirms the holdings are not intended to influence control of the issuer.

The filing identifies Encompass as a Delaware investment adviser and Todd J. Kantor as a U.S. citizen and managing member, lists issuer and filer addresses, and includes a joint filing agreement signed August 14, 2025.

Positive

• Transparent disclosure of a 3.36% beneficial ownership by Encompass Capital Advisors LLC and Todd J. Kantor
• Joint filing agreement executed, clarifying coordinated reporting and legal compliance

Negative

• Stake below 5% threshold, indicating limited potential to influence corporate control or strategic direction

Insights

Financial Analyst

TL;DR: A passive 3.36% stake disclosed; not control-seeking and unlikely to materially affect valuation.

The Schedule 13G/A reports a 3.36% shared stake held by Encompass Capital Advisors LLC and Todd J. Kantor, with shared voting and dispositive power over 3,608,369 shares. Filing under the 13G framework and the certification language indicate an intent to remain passive, not to influence issuer control. For investors, a sub-5% passive stake signals disclosure and transparency but is not typically a catalyst for corporate change or strategic influence.

Corporate Governance Expert

TL;DR: Governance impact is minimal; the filing confirms shared authority but states no intent to alter control.

The document classifies the filers as an investment adviser and an individual filing jointly, with a joint filing agreement executed. Shared voting and dispositive power are reported, yet the filer expressly certifies the holdings are not for control purposes. From a governance perspective, a 3.36% passive position typically does not trigger board engagement or proxy contest activity.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

PERPETUA RESOURCES CORP.

(Name of Issuer)

Common Shares, without par value

(Title of Class of Securities)

714266103

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 714266103

1

Names of Reporting Persons

Encompass Capital Advisors LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 3,608,369.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,608,369.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,608,369.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

3.36 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP No. 714266103

1

Names of Reporting Persons

Todd J. Kantor

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 3,608,369.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,608,369.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,608,369.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

3.36 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: PERPETUA RESOURCES CORP.
(b)	Address of issuer's principal executive offices: 405 S. 8th Street, Ste 201, Boise, Idaho 83702
Item 2.
(a)	Name of person filing: Encompass Capital Advisors LLC Todd J. Kantor
(b)	Address or principal business office or, if none, residence: Encompass Capital Advisors LLC: 200 Park Avenue, Suite 1604, New York, NY 10166 Todd J. Kantor is c/o Encompass Capital Advisors LLC: 200 Park Avenue, Suite 1604, New York, NY 10166
(c)	Citizenship: Encompass Capital Advisors LLC is a Delaware Limited Liability Company Todd J. Kantor is a US citizen
(d)	Title of class of securities: Common Shares, without par value
(e)	CUSIP No.: 714266103
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: Encompass Capital Advisors LLC 3,608,369 Todd J. Kantor 3,608,369
(b)	Percent of class: Encompass Capital Advisors LLC 3.36% Todd J. Kantor 3.36%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Encompass Capital Advisors LLC 0 Todd J. Kantor 0
	(ii) Shared power to vote or to direct the vote: Encompass Capital Advisors LLC 3,608,369 Todd J. Kantor 3,608,369
	(iii) Sole power to dispose or to direct the disposition of: Encompass Capital Advisors LLC 0 Todd J. Kantor 0
	(iv) Shared power to dispose or to direct the disposition of: Encompass Capital Advisors LLC 3,608,369 Todd J. Kantor 3,608,369
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Encompass Capital Advisors LLC

Signature:	Todd J. Kantor
Name/Title:	Todd J. Kantor | Managing Member
Date:	08/14/2025

Todd J. Kantor

Signature:	Todd J. Kantor
Name/Title:	Todd J. Kantor
Date:	08/14/2025

Exhibit Information

JOINT FILING AGREEMENT The undersigned hereby agree that the statement on SCHEDULE 13G with respect to the shares of Common Shares of PERPETUA RESOURCES CORP., dated as of August 14, 2025 is, and any amendments thereto signed by each of the undersigned shall be, filed on behalf of each of us pursuant to and in accordance with the provisions of Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended. Date: August 14, 2025 Encompass Capital Advisors LLC By: Todd J. Kantor Name: Todd J. Kantor Title: Managing Member Todd J. Kantor By: Todd J. Kantor Name: Todd J. Kantor

FAQ

What stake in Perpetua Resources (PPTA) did Encompass Capital Advisors report?

The filing reports shared beneficial ownership of 3,608,369 shares, equal to 3.36% of PPTA common shares.

Does the Schedule 13G/A indicate Encompass or Todd Kantor seek control of PPTA?

No. The filing includes a certification stating the securities were not acquired to change or influence control of the issuer.

Who holds voting and dispositive power over the reported shares?

The filing reports shared voting power and shared dispositive power of 3,608,369 shares for both Encompass Capital Advisors LLC and Todd J. Kantor.

Under what classification was this Schedule filed?

The filers identify Encompass as an investment adviser (IA) and Todd J. Kantor as HC, IN (holding company/individual roles) in the filing.

When was the joint filing agreement signed for this disclosure?

The joint filing agreement in the filing is dated August 14, 2025.