A Colorado-based mining company announced plans Tuesday to go public with a potential valuation reaching $2.32 billion as it seeks funding to reopen mineral extraction operations in Idaho.
Sunshine Silver Mining & Refining Company, headquartered in Denver, plans to sell 20 million shares at prices ranging from $13.50 to $16.50 per share, which could generate up to $330 million in proceeds. The funds would support efforts to restart an Idaho facility that previously extracted silver, antimony and additional minerals.
The company plans to begin trading on the New York Stock Exchange using the ticker symbol “SSMR.”
Three major financial institutions – Morgan Stanley, Scotiabank and BMO Capital Markets – will serve as the primary underwriters managing the stock offering.
