Companies · Mining & Resources

Firefly Minerals, LLCNew on the radar

INCLINE VILLAGE · Mining & Resources · refined from filed group “Other

Diligence memoA one-page analyst read on Firefly Minerals, LLC — recommendation, valuation, rhythm, risks.
$37.5M
Total raised · real
1
Rounds
Latest step-up
Top 6%
Sector rank · raised
Series B
Latest stage · inferred · Wed Jan 07 2026 00:00:00 GMT+0000 (Coordinated Universal Time)

Firefly Minerals, LLC looks over-valued 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.

Over-valued
  • Modeled value is 1.84× the median modeled value of Series B Mining & Resources companies in 2025–2027 (15 peers) — value vs value, same stage and era.
  • Issuer reports no revenue, yet is modeled well above niche peers.
Active
  • Last raise 6 mo ago; this sector typically re-raises about every 11 months.
  • Raising on or ahead of the sector's normal rhythm.

Procedural diagnosis est. — rule-based common-sense checks over the filing pattern, issuer name, activity cadence, and surfaced operating evidence.

Issuer-vehicle patternmedium confidence

Firefly Minerals, LLC behaves more like a recurring private-offering issuer than a conventional venture-backed operating company.

Issuer structure
Company-like
No recurring-offering pattern strong enough to override normal financing interpretation.
Lifecycle
0.5 yr record
Peak capital year was 2026 with $37.5M across 1 filings.
Market position
ahead of 95% of Mining & Resources peers
Capital scale is ahead of 95% of Mining & Resources peers; modeled value is above 98% of peers by modeled value. Large capital with mid-pack modeled value can signal an issuer/program profile rather than operating-company growth.
Valuation reliability
Normal applicability
Stage/dilution valuation models are weakest when the issuer is broad-sector, recurring, or vehicle-like.
Operating evidence
Sparse
No clear CEO/founder/principal role is surfaced, so operating-company confidence is lower.
Data quality
Consistent
Canonical totals and visible filing detail are broadly aligned.
What triggered this
  • Legal name looks like an issuer vehicle rather than a product company.
  • No clearly named CEO/founder/principal role in the public records surfaced here.
  • No verified homepage on the profile yet.
  • Capital program peaked in 2026: $37.5M across 1 filings.
  • Largest single filing was $37.5M on 2026-01-07.
How to read the page
  • Read this less like a startup funding journey and more like a capital-raising program.
  • Stage-based valuation and peer labels have lower applicability for this pattern.
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

Firefly Minerals, LLC is one of 701 Mining & Resources companies tracked from INCLINE VILLAGE. By capital raised it ranks among the largest (ahead of 95% 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
No revenue
Issuer revenue
Rule 506(b)
Reg D exemption
44
Investors (latest)
2025
Year incorporated
2026-01-07
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$200MSeries B · 2026-01-07 Raised $38M (real) Modeled valuation $138M (est)$38M$138MSeries B2026

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
Series B$37.5M · 2026

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series A — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 25%.

Modeled valuation trajectory
$137.8M
Base estimate est.
$89.1M
Conservative case
$184.4M
Upside case
$208.3M
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.

Not enough modeled valuation points to chart a trajectory.

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
0.5 yr
Elapsed time used
0.5 yr actual, capped for stale marks
extractive
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
Avg between rounds
Capital velocity
0.5 yr
On record since
2026
First round
New
First-time filer
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) 16× above median
This company$37.5M
Sector median$2.3M
Latest round — vs other Series B rounds in sector (real $, this stage) 5.9× above median
This company$37.5M
Sector median$6.3M
Modeled value — vs sector median (estimate, all stages) 54× above median
This company$137.8M
Sector median$2.5M

Raised more than 95% of sector peers (real $). Modeled value above 98% 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 #1 of 15.

This companyCohort peer
$1.0M$10.0M$100.0M$1.0B$10.0M$100.0M$1.0BCapital raised (log)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 $85.2M (est)Bunker Hill Mining Corp. · Series B Raised $95.2M · modeled $76.7M (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)Firefly Minerals, LLC (this company) Raised $37.5M · modeled $137.8M (est)Firefly Minerals, LLC
CompanyStageRaised · realValue · estvs peer med.
Firefly Minerals, LLC this companySeries B$37.5M$137.8M1.84×
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$85.2M1.14×
Bunker Hill Mining Corp.Series 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.
Series B$37.5M2026-01-07$208.3M$137.8M90%
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. Series B$37.5M2026-01-07
    • First recorded raise — entered as Series B.
    • 44 investors on this round.
Intelligence
Modeled next raise
$60.0M
Modeled next size est.range $39.0M$96.0M
Last step-up
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
Ariel Warszawski2026-01
Matthew Wieszczyk2026-01
Ryan Heslop2026-01
Registry & provenance

Firefly Minerals, LLC 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
2107392
SEC CIK
2025
Incorporated
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
Premier Gold Mines LtdMining & ResourcesSeries B$37.1M$10.7Msame sector · same stage
Metal Oxide Technologies LLCMining & ResourcesSeries B$36.1M$126.6Msame sector · same stage
Platinum Group Metals LtdMining & ResourcesSeries B$35.7M$12.0Msame sector · same stage
Calibre Mining Corp.Mining & ResourcesSeries B$40.4M$57.2Msame sector · same stage
Eurasia Mining plcMining & ResourcesSeries B$34.6M$66.5Msame sector · same stage
MCC Mining CorpMining & ResourcesSeries B$41.1M$64.0Msame sector · same stage
Americas Gold & Silver CorpMining & ResourcesSeries B$41.2M$34.3Msame sector · same stage
Blockware Mining, LLCMining & ResourcesSeries B$34.0M$163.1Msame 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
Fireweed Metals Corp.Mining & ResourcesSeed$6.3M88%
Fireweed Zinc Ltd.Mining & ResourcesSeed$1.2M84%
MINERALRITE CorpMining & ResourcesSeries D+$1.1B84%
Ocean Minerals, LLCMining & ResourcesSeries A$21.9M83%
Mayo Lake Minerals Inc.Mining & ResourcesPre-Seed$495K83%
Golden Minerals CoMining & ResourcesSeries A$6.7M82%
Metallic Minerals Corp.Mining & ResourcesSeed$7.5M82%
Lucky Minerals Inc.Mining & ResourcesPre-Seed$885K82%
Frequently asked
How much funding has Firefly Minerals, LLC raised?
Firefly Minerals, LLC has raised approximately $37.5M in disclosed capital across 1 recorded financing round, aggregated from public filings.
What is Firefly Minerals, LLC's estimated valuation?
Provath's modeled valuation for Firefly Minerals, LLC is approximately $137.8M (modeled range $89.1M–$184.4M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Firefly Minerals, LLC at?
Firefly Minerals, LLC's latest modeled financing stage is Series B. Its most recent recorded round closed around Wed Jan 07.
What does Firefly Minerals, LLC do and where is it based?
Firefly Minerals, LLC operates in the Mining & Resources sector, based in INCLINE VILLAGE.
Explore related

See where Firefly Minerals, LLC sits in the wider market — its sector, location and stage cohorts, each with their own leaderboards and capital-flow timelines.

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