Sunshine Silver Mining & Refining, a development-stage mining company based in Idaho with mining projects, announced the terms for its initial public offering on Tuesday. The company plans to offer 20 million shares at a price range of $13.50 to $16.50 per share, aiming to raise $300 million. Based on the midpoint of the proposed price range, the fully diluted market capitalization of Sunshine Silver Mining & Refining would be approximately $2.3 billion.

Sunshine Silver Mining & Refining owns and is developing the Sunshine silver mine and related refining facilities located near Kellogg. The mine has a history of production, with associated minerals including antimony, copper, and lead. The company is focused on maintaining the site and implementing modernization efforts to prepare for the planned restart of mining, milling, and refining operations. The mine is currently under care and maintenance, with a target to resume operations in 2028.

Founded in 2010, Sunshine Silver Mining & Refining plans to list on the New York Stock Exchange under the ticker symbol "SSMR". Morgan Stanley, Scotiabank Capital, BMO Capital Markets, Canaccord Genuity, Citigroup, and RBC Capital Markets are acting as joint book-running managers for the offering. The IPO is expected to be priced during the week of June 1, 2026.