Mentioned:
One of America’s most historic past producing silver mines might be on the verge of coming back into production. And the company behind it is about to make their Wall Street debut.
What’s happening:
- Sunshine Silver Mining & Refining has officially launched their IPO financing round to become a publicly traded company on the New York Stock Exchange
By the numbers:
- Sunshine Silver Mining & Refining will issue 20M common shares as part of their IPO financing round at a price between $13.50 USD and $16.50 USD per share
Why it matters:
- Sunshine Silver Mining & Refining is focused on bringing the Sunshine Mine located in the historic mining region of Shoshone County, Idaho back into full scale production
Going deeper:
- The Sunshine Mine was previously widely considered to be the largest operational silver mine in the United States and produced more than 360M ounces of silver prior to being closed more than two decades ago
- Sunshine Silver Mining & Refining has also publicly stated they plan to refine multiple critical minerals including antimony, gallium, germanium at their wholly owned refinery known as the Sunshine Refinery which is located roughly a mile away from their Sunshine Mine
The intrigue:
- The Sunshine Refinery is a COMEX-approved silver refinery and is already permitted for large scale processing of critical minerals
