US silver-mining company Sunshine Refining priced its US IPO at the low end of
the range and raised $270m to fund the planned restart of an Idaho mine,
retaining the permits needed for mining and processing and targeting a 2028
restart. The Idaho site produced historically silver, antibiotic, copper and lead;
the company projects first-five-year average annual revenue of about $311m and
EBITDA of roughly $230m after restart. Spot silver has more than doubled over
the past year and hit a record in January on safe-haven flows, central bank
buying and rising industrial demand from data-center cooling and solar panels,
while rising antimony demand—used in military, electronics and data-center
applications—adds an additional structural tailwind.
