US-based Sunshine Silver Mining & Refining Company (SSMRC), which is working to revitalise the Sunshine Complex in Idaho’s Silver Valley, has applied to the US Securities and Exchange Commission for a proposed initial public offering (IPO) of its common stock.
SSMRC intends to list on the NYSE, but has yet to finalise the number of shares to be issued under the IPO or the price at which shares will be offered.
The company notes on its website that the Sunshine Complex is home to North America’s highest-grade large silver resource, with 112-million ounces of resources in the indicated category and 165-million ounces in the inferred category.
SSMRC says it has already invested more than $180-million in the project since acquiring it in 2010. It plans to return the mine to production in 2028.