Sunshine Silver Mining & Refining is taking its shot at the public markets, and it's a big one. The Idaho-based company is planning to list on the New York Stock Exchange under the ticker "SSMR" at a valuation of up to $2.32 billion. That would make it the most significant silver-focused IPO since 2020.
The company is looking to raise up to $330 million by selling 20 million shares at $13.50 to $16.50 apiece. Underwriters get a 30-day option to buy an additional 3 million shares, which could bump the offering even higher. The lead banks on the deal are Morgan Stanley, Scotiabank, and BMO Capital Markets, with Canaccord Genuity, Citigroup, and RBC Capital Markets also involved.
Sunshine Silver was founded in 2010 and is headquartered in Kellogg, Idaho. The company focuses on acquiring, redeveloping, and operating precious metals assets across North America. The proceeds from the IPO will help fund the restart and expansion of the historic Sunshine Mine in Idaho's Coeur d'Alene Mining District — one of the most prolific silver-producing regions in U.S. history.
The Sunshine Mine has previously produced silver, antimony, and other critical minerals. The company says it's one of the highest-grade primary silver resources in the world, and it's vertically integrated: it has a permitted on-site silver refinery and permits for antimony production. That's a rare combination in the mining world.














