Companies · Mining & Resources

Bunker Hill Mining Corp.

KELLOGG · Mining & Resources · refined from filed group “Other

Diligence memoA one-page analyst read on Bunker Hill Mining Corp. — recommendation, valuation, rhythm, risks.
$95.2M
Total raised · real
7
Rounds
0.6×
Latest step-up
Top 3%
Sector rank · raised
Series B
Latest stage · inferred · Thu Mar 05 2026 00:00:00 GMT+0000 (Coordinated Universal Time)

Bunker Hill Mining Corp. looks fair against its niche peers and is active on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the extractive sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Fair
  • Modeled value is 1.02× the median modeled value of Series B Mining & Resources companies in 2025–2027 (15 peers) — value vs value, same stage and era.
  • Within the normal band (102% of peer median) for its niche.
Active
  • Last raise 4 mo ago; this sector typically re-raises about every 11 months.
  • Raising on or ahead of the sector's normal rhythm.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Mining & Resources

Bunker Hill Mining Corp. is one of 701 Mining & Resources companies tracked from KELLOGG. By capital raised it ranks among the largest (ahead of 98% of sector peers), and among the largest by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
9
Investors (latest)
2026-03-05
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$50M$100M$150M$200MPre-Seed · 2011-12-19 Raised $185K (real) Modeled valuation $1.2M (est)Pre-Seed2011Seed · 2012-10-15 Raised $1.9M (real) Modeled valuation $10.0M (est)Seed2012Seed · 2017-12-13 Raised $182K (real) Modeled valuation $979K (est)Seed2017Seed · 2023-03-27 Raised $1.9M (real) Modeled valuation $6.5M (est)Seed2023Series B · 2025-06-05 Raised $33M (real) Modeled valuation $123M (est)Series B2025Series B · 2025-09-29 Raised $37M (real) Modeled valuation $140M (est)Series B2025Series B · 2026-03-05 Raised $21M (real) Modeled valuation $77M (est)Series B2026+$1.9M+$182K+$1.9M+$33M+$37M+$21MCumulative $95M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Pre-Seed$185K · 2011
Seed$1.9M · 2012
Seed extension$182K · 2017
Seed extension$1.9M · 2023
Series B$32.5M · 2025no Series A on file
Series B extension$37.5M · 2025
Series B extension$21.0M · 2026

Stages are modeled from round size (public records carry no series label). No record for: Series A — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 75%.

Modeled valuation trajectory
$76.7M
Base estimate est.
$50.0M
Conservative case
$99.6M
Upside case
$116.9M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Ba $15M–$40M round). Valuation is modeled from stage benchmarks scaled by the extractive sector profile. Directional, not a quoted figure.

Pre-Seed · modeled $1.2M · 2011-12-192011Seed · modeled $10.0M · 2012-10-15Seed · modeled $979K · 2017-12-13Seed · modeled $6.5M · 2023-03-27Series B · modeled $123.0M · 2025-06-05Series B · modeled $139.6M · 2025-09-29Series B · modeled $76.7M · 2026-03-052026
Model inputs · modeled:benchmark-stage-stepup-v1
18%
Dilution assumption
Implied ownership sold in the financing.
65%
Survival probability
43% low · 79% high
1.05×/yr
Annual markup
1.27×/yr upside case
0.3 yr
Elapsed time used
0.3 yr actual, capped for stale marks
extractive
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
28 mo
Avg between rounds
$6.7M/yr
Capital velocity
14.5 yr
On record since
2011
First round
7
Rounds on file
How it compares to the market

Benchmarked against 701 companies in Mining & Resources. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 41× above median
This company$95.2M
Sector median$2.3M
Latest round — vs other Series B rounds in sector (real $, this stage) 3.3× above median
This company$21.0M
Sector median$6.3M
Modeled value — vs sector median (estimate, all stages) 30× above median
This company$76.7M
Sector median$2.5M

Raised more than 98% of sector peers (real $). Modeled value above 95% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series B) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #6 of 15.

This companyCohort peer
$1.0M$10.0M$100.0M$1.0B$10.0M$100.0M$1.0BCapital raised (log)Firefly Minerals, LLC · Series B Raised $37.5M · modeled $137.7M (est)Tectonic Metals Inc. · Series B Raised $61.5M · modeled $128.2M (est)U.S. Gold Corp. · Series B Raised $56.6M · modeled $115.0M (est)Critical Metals Corp. · Series B Raised $24.6M · modeled $94.3M (est)NGEx Minerals Ltd. · Series B Raised $23.9M · modeled $85.1M (est)Mohave Verde Metals LLC · Series B Raised $20.0M · modeled $75.8M (est)Channing Street Copper Co · Series B Raised $31.0M · modeled $75.0M (est)MCC Mining Corp · Series B Raised $41.1M · modeled $64.0M (est)International Tower Hill Mines Ltd · Series B Raised $96.9M · modeled $15.1M (est)Lost River Mining, Inc. · Series B Raised $51.2M · modeled $13.0M (est)Western Alaska Minerals Corp. · Series B Raised $28.0M · modeled $4.6M (est)Bunker Hill Mining Corp. (this company) Raised $95.2M · modeled $76.7M (est)Bunker Hill Mining Corp.
CompanyStageRaised · realValue · estvs peer med.
Firefly Minerals, LLCSeries B$37.5M$137.7M1.84×
Tectonic Metals Inc.Series B$61.5M$128.2M1.71×
U.S. Gold Corp.Series B$56.6M$115.0M1.53×
Critical Metals Corp.Series B$24.6M$94.3M1.26×
NGEx Minerals Ltd.Series B$23.9M$85.1M1.14×
Bunker Hill Mining Corp. this companySeries B$95.2M$76.7M1.02×
Mohave Verde Metals LLCSeries B$20.0M$75.8M1.01×
Channing Street Copper CoSeries B$31.0M$75.0M1.00×
MCC Mining CorpSeries B$41.1M$64.0M0.85×
International Tower Hill Mines LtdSeries B$96.9M$15.1M0.20×
Lost River Mining, Inc.Series B$51.2M$13.0M0.17×
Western Alaska Minerals Corp.Series B$28.0M$4.6M0.06×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Pre-Seed$185K2011-12-19$1.0M$1.2M85%
Seed$1.9M2012-10-15$9.3M$10.0M85%
Seed$182K2017-12-13$911K$979K90%
Seed$1.9M2023-03-27$9.7M$6.5M90%
Series B$32.5M2025-06-05$180.7M$123.0M90%
Series B$37.5M2025-09-29$208.3M$139.6M90%
Series B$21.0M2026-03-05$116.9M$76.7M90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Pre-Seed$185K2011-12-19
    • First recorded raise — entered as Pre-Seed.
  2. Seed$1.9M2012-10-15
    • Raised 10 mo later, in step with the ~11 mo sector norm.
    • Round 10.1× larger than the prior — scaling up.
  3. Seed$182K2017-12-13
    • Raised again after 62 mo — slower than the ~11 mo sector norm.
    • Round 10.2× smaller than the prior — bridge or down round.
    • Switched to Rule 506(b) (was Rule 06).
    • 3 investors on this round.
  4. Seed$1.9M2023-03-27
    • Raised again after 63 mo — slower than the ~11 mo sector norm.
    • Round 10.7× larger than the prior — scaling up.
    • 10 investors on this round.
  5. Series B$32.5M2025-06-05
    • Raised again after 26 mo — slower than the ~11 mo sector norm.
    • Round 16.7× larger than the prior — scaling up.
    • Switched to Rule 506(c) (was Rule 506(b)).
    • 36 investors on this round.
  6. Series B$37.5M2025-09-29
    • Came back fast: 4 mo vs the ~11 mo sector norm.
    • Round roughly the size of the prior one.
    • Switched to Rule 506(b) (was Rule 506(c)).
    • 9 investors on this round.
  7. Series B$21.0M2026-03-05
    • Came back fast: 5 mo vs the ~11 mo sector norm.
    • Round 1.8× smaller than the prior — bridge or down round.
    • 9 investors on this round.
Intelligence
2028 ~Q3
Modeled next raise · ~28mo cadence
$21.0M
Modeled next size est.range $21.0M$33.7M
0.6×
Last step-up
$6.7M/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
John P Ryan10 other2017-12
Richard Williams9 other2023-03
Howard M. Crosby6 other2017-12
MARK CRUISE4 other2023-03
Bradley Barnett1 other2026-03
David Wiens1 other2023-03
Dickson Hall1 other2023-03
Manish Z. Kshatriya1 other2012-10
Pamela Saxton1 other2025-06
Robert Geoffrey Browne1 other2011-12
Bruce P. Reid2017-12
Cassandra Joseph2023-03
George Geoffrey Kent2011-12
George Z. Kent2012-10
Gerbrand Van Heerden2025-06
John Geoffrey Barrington2011-12
John Geoffrey Pulos2011-12
John Z. Barrington2012-10
John Z. Pulos2012-10
Julio P. DiGirolamo2017-12
Kelli Kast2025-06
Pam Saxton2023-03
Paul Geoffrey Haggis2011-12
Paul Z. Haggis2012-10
Registry & provenance

Bunker Hill Mining Corp. is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
1407583
SEC CIK
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

CompanySectorStageRaised · realValue · estWhy similar
Silver Scott Mines IncMining & ResourcesSeed$5.0M$5.1Mnetwork2 shared operators · same sector
International Tower Hill Mines LtdMining & ResourcesSeries B$96.9M$15.1Msame sector · same stage
Pershing Gold Corp.Mining & ResourcesSeries A$60.1M$28.6Mnetwork1 shared operator · same sector
Besra Gold Inc.Mining & ResourcesSeries B$76.8M$13.3Msame sector · same stage
Dare Bioscience, Inc.BiotechnologySeries B$102.0M$93.7Mnetwork1 shared operator · same stage
Tectonic Metals Inc.Mining & ResourcesSeries B$61.5M$128.2Msame sector · same stage
U.S. Gold Corp.Mining & ResourcesSeries B$56.6M$115.0Msame sector · same stage
Lost River Mining, Inc.Mining & ResourcesSeries B$51.2M$13.0Msame sector · same stage
Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
MCC Mining CorpMining & ResourcesSeries B$64.0M84%
Bear Creek Mining CorpMining & ResourcesSeries A$1.7M84%
Orestone Mining Corp.Mining & ResourcesPre-Seed$324K84%
Filo Mining Corp.Mining & ResourcesSeries A$24.2M83%
Prime Mining Corp.Mining & ResourcesPre-Seed$4.6M83%
Hunt Mining CorpMining & ResourcesPre-Seed$1.6M83%
Pershing Gold Corp.Mining & ResourcesSeries A$28.6M82%
International Tower Hill Mines LtdMining & ResourcesSeries B$15.1M82%
Frequently asked
How much funding has Bunker Hill Mining Corp. raised?
Bunker Hill Mining Corp. has raised approximately $95.2M in disclosed capital across 7 recorded financing rounds, aggregated from public filings.
What is Bunker Hill Mining Corp.'s estimated valuation?
Provath's modeled valuation for Bunker Hill Mining Corp. is approximately $76.7M (modeled range $50.0M–$99.6M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Bunker Hill Mining Corp. at?
Bunker Hill Mining Corp.'s latest modeled financing stage is Series B. Its most recent recorded round closed around Thu Mar 05.
What does Bunker Hill Mining Corp. do and where is it based?
Bunker Hill Mining Corp. operates in the Mining & Resources sector, based in KELLOGG.
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