Sunshine Silver Mining & Refining, a development-stage mining company with a project in Idaho, announced terms for its IPO on Tuesday.
The Kellogg, ID-based company plans to raise $300 million by offering 20 million shares at a price range of $13.50 to $16.50. At the midpoint of the proposed range, Sunshine Silver Mining & Refining would command a fully diluted market value of $2.3 billion.
Sunshine Silver Mining & Refining owns and is developing the Sunshine Mine and related refining facilities in Kellogg, a historically producing silver mine with byproducts including antimony, copper, and lead. The company is focused on maintaining and modernizing the site in preparation for a planned restart of mining, milling, and refining operations. Operations are currently on care and maintenance, with a restart targeted for 2028.
Sunshine Silver Mining & Refining was founded in 2010 and plans to list on the NYSE under the symbol SSMR. Morgan Stanley, Scotia Capital, BMO Capital Markets, Canaccord Genuity, Citi, and RBC Capital Markets are the joint bookrunners on the deal. It is expected to price the week of June 1, 2026.
