Shares of Sunshine Silver Mining & Refining (NYSE:SSMR) surged 11 percent in their stock exchange debut on Thursday (June 4) after the Idaho-based miner raised US$270 million to resurrect one of the highest-grade silver assets in the US.
Trading under the ticker SSMR, the stock opened at US$15 a share. Sunshine priced its initial public offering of 20 million shares at US$13.50 each, landing at the bottom of its targeted US$13.50 to US$16.50 range.
The company’s flagship asset is the historic Sunshine Mine in Kellogg, Idaho, located within the Coeur d’Alene Mining District. The US$270 million capital injection will fund the steps required to bring the fully permitted site back online.
The deposit currently holds 103.9 million ounces of indicated silver resources at an average diluted grade of 1,022 grams per ton, alongside 159.8 million ounces of inferred resources. Management projects the mine will yield 6.7 million ounces of silver annually during its first five years of operation, ultimately averaging 5.8 million ounces over a 24-year mine life.
Beyond silver, the company is positioning the asset as a domestic supplier of antimony, a mineral increasingly prioritized due to its importance in military applications. The company is evaluating an existing permitted antimony plant on site.
Including its own byproduct, Sunshine estimates the facility could produce up to 34.5 million pounds of finished antimony a year, potentially covering up to 60 percent of current US demand.
Chairman Dr. Thomas S. Kaplan highlighted the strategic value of an American mine-to-mill-to-refinery platform capable of producing COMEX-eligible 99.99 silver bars alongside antimony metal.
“With both metals having been declared to be critical minerals by both the United States and China, we believe this autonomy away from geopolitics to be a significant advantage,” Kaplan said.
To reach commercial production, Sunshine must finalize its engineering plans. The company plans to leverage an estimated US$600 million in existing infrastructure and US$208 million invested over the past 16 years to modernize the site.
Following the listing, CEO Heather White said the immediate focus is completing infill drilling and engineering designs to support a feasibility study slated for early 2027.
“From there, we plan to begin mill construction and complete infrastructure upgrades, with the goal of delivering silver production in late 2028,” White added.
As of midday Friday (June 5) share were trading at US$13.76.
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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
