Companies · Mining & Resources

Foran Mining Corp

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

Diligence memoA one-page analyst read on Foran Mining Corp — recommendation, valuation, rhythm, risks.
$152.1M
Total raised · real
6
Rounds
0.2×
Latest step-up
Top 2%
Sector rank · raised
Series C
Latest stage · inferred · Fri Jul 11 2025 00:00:00 GMT+0000 (Coordinated Universal Time)

Foran Mining Corp has raised $152M over 6 rounds; too few niche peers to rank its valuation yet.

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.

Active
  • Last raise 12 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

Foran Mining Corp is one of 701 Mining & Resources companies tracked from VANCOUVER. By capital raised it ranks among the largest (ahead of 99% 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
6
Investors (latest)
2025-07-11
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$125M$250M$375M$500MPre-Seed · 2012-08-30 Raised $257K (real) Modeled valuation $1.7M (est)Pre-Seed2012Series B · 2021-08-06 Raised $19M (real) Modeled valuation $87M (est)Series B2021Series C · 2024-08-08 Raised $41M (real) Modeled valuation $202M (est)Series C2024Series C · 2024-08-08 Raised $78M (real) Modeled valuation $385M (est)Series C2024Series C · 2024-09-17 Raised $37M (real) Modeled valuation $185M (est)Series C2024Series C · 2025-05-28 Raised $46M (real) Modeled valuation $226M (est)Series C2025Series C · 2025-07-11 Raised $8.5M (real) Modeled valuation $42M (est)Series C2025+$19M+$41M+$78M+$37M+$46M+$8.5MCumulative $230M

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$257K · 2012
Series B$19.1M · 2021no Seed / Series A on file
Series C$41.0M · 2024
Series C extension$78.0M · 2024
Series C extension$37.4M · 2024
Series C extension$45.8M · 2025
Series C extension$8.5M · 2025

Stages are modeled from round size (public records carry no series label). No record for: Seed, Series A — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 60%.

Modeled valuation trajectory
$42.2M
Base estimate est.
$31.3M
Conservative case
$55.6M
Upside case
$56.9M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Ca $40M–$100M round). Valuation is modeled from stage benchmarks scaled by the extractive sector profile. Directional, not a quoted figure.

Pre-Seed · modeled $1.7M · 2012-08-302012Series B · modeled $87.0M · 2021-08-06Series C · modeled $202.5M · 2024-08-08Series C · modeled $385.5M · 2024-08-08Series C · modeled $185.0M · 2024-09-17Series C · modeled $226.4M · 2025-05-28Series C · modeled $42.2M · 2025-07-112025
Model inputs · modeled:benchmark-stage-stepup-v1
15%
Dilution assumption
Implied ownership sold in the financing.
74%
Survival probability
55% low · 86% high
1.00×/yr
Annual markup
1.15×/yr upside case
1.0 yr
Elapsed time used
1.0 yr actual, capped for stale marks
extractive
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
26 mo
Avg between rounds
$11.8M/yr
Capital velocity
13.8 yr
On record since
2012
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) 66× above median
This company$152.1M
Sector median$2.3M
Latest round — vs other Series C rounds in sector (real $, this stage) 0.2× of median
This company$8.5M
Sector median$43.4M
Modeled value — vs sector median (estimate, all stages) 17× above median
This company$42.2M
Sector median$2.5M

Raised more than 99% of sector peers (real $). Modeled value above 93% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series C) 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 companyCohort peer
$10.0M$100.0M$1.0B$10.0M$100.0M$1.0BCapital raised (log)Gold Reserve Ltd · Series C Raised $250.4M · modeled $370.6M (est)Sunshine Silver Mining & Refining Co · Series C Raised $48.9M · modeled $241.9M (est)Foran Mining Corp (this company) Raised $152.1M · modeled $42.2M (est)Foran Mining Corp
CompanyStageRaised · realValue · estvs peer med.
Gold Reserve LtdSeries C$250.4M$370.6M1.53×
Sunshine Silver Mining & Refining CoSeries C$48.9M$241.9M1.00×
Foran Mining Corp this companySeries C$152.1M$42.2M0.17×
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$257K2012-08-30$1.4M$1.7M85%
Series B$19.1M2021-08-06$106.2M$87.0M90%
Series C$41.0M2024-08-08$273.0M$202.5M90%
Series C$78.0M2024-08-08$519.8M$385.5M90%
Series C$37.4M2024-09-17$249.5M$185.0M90%
Series C$45.8M2025-05-28$305.3M$226.4M90%
Series C$8.5M2025-07-11$56.9M$42.2M90%
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$257K2012-08-30
    • First recorded raise — entered as Pre-Seed.
    • 2 investors on this round.
  2. Series B$19.1M2021-08-06
    • Raised again after 107 mo — slower than the ~11 mo sector norm.
    • Round 74.3× larger than the prior — scaling up.
    • Switched to Rule 506(b) (was Rule 06).
    • 2 investors on this round.
  3. Series C$41.0M2024-08-08
    • Raised again after 36 mo — slower than the ~11 mo sector norm.
    • Round 2.1× larger than the prior — scaling up.
    • 10 investors on this round.
  4. Series C$78.0M2024-08-08
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.9× larger than the prior — scaling up.
    • 10 investors on this round.
  5. Series C$37.4M2024-09-17
    • Came back fast: 1 mo vs the ~11 mo sector norm.
    • Round 2.1× smaller than the prior — bridge or down round.
    • 8 investors on this round.
  6. Series C$45.8M2025-05-28
    • Raised 8 mo later, in step with the ~11 mo sector norm.
    • Round roughly the size of the prior one.
    • 6 investors on this round.
  7. Series C$8.5M2025-07-11
    • Came back fast: 1 mo vs the ~11 mo sector norm.
    • Round 5.4× smaller than the prior — bridge or down round.
    • 6 investors on this round.
Intelligence
2027 ~Q3
Modeled next raise · ~26mo cadence
$8.5M
Modeled next size est.range $8.5M$13.7M
0.2×
Last step-up
$11.8M/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
Maurice Tagami3 other2012-08
Patrick Soares2 other2012-08
Darren Morcombe1 other2012-08
David M. Petroff1 other2012-08
David Petroff1 other2021-08
Jean Rogers1 other2021-08
Bradley Summach2012-08
Daniel Myerson2024-08
Dan Myerson2021-08
Dave M. Fleming2012-08
Etienne G. Ravilet-Guzman2025-05
Fiona M. Childe2012-08
Gilbert Lamarche2025-07
Glibert Lamarche2024-08
James Steels2021-08
Jessica McDonald2024-08
Majd Bakar2025-07
Majd Baker2024-08
Marie Inkster2024-08
Nancy Guay2024-08
Roger March2021-08
Roger M. March2012-08
Sharon Dowdall2012-08
Tim M. Thiessen2012-08
Registry & provenance

Foran 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
1105122
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
Hecla Mining Co/De/Mining & ResourcesSeries C$100.0M$45.6Msame sector · same stage
i-80 Gold Corp.Mining & ResourcesSeries C$76.1M$22.7Msame sector · same stage
Sabina Gold & Silver Corp.Mining & ResourcesSeries C$49.9M$1.7Msame sector · same stage
Maple Gold Mines Ltd.Mining & ResourcesPre-Seed$639K$341Knetwork1 shared operator · same sector
Brett Resources IncOtherSeries A$5.6M$63.4Mnetwork2 shared operators
International Tower Hill Mines LtdMining & ResourcesSeries B$96.9M$15.1Msame sector
Bunker Hill Mining Corp.Mining & ResourcesSeries B$95.2M$76.7Msame sector
Besra Gold Inc.Mining & ResourcesSeries B$76.8M$13.3Msame sector
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
Inomin Mines Inc.Mining & ResourcesPre-Seed$342K86%
Orestone Mining Corp.Mining & ResourcesPre-Seed$325K84%
DeepGreen Metals Inc.Mining & ResourcesSeries A$37.9M83%
Titan Mining CorpMining & ResourcesPre-Seed$2.5M83%
Pershing Gold Corp.Mining & ResourcesSeries A$28.6M83%
Dore Copper Mining Corp.Mining & ResourcesSeed$1.6M83%
B & N Mining, Inc.Mining & ResourcesSeed$6.1M83%
InZinc Mining Ltd.Mining & ResourcesPre-Seed$3.0M83%
Frequently asked
How much funding has Foran Mining Corp raised?
Foran Mining Corp has raised approximately $152.1M in disclosed capital across 6 recorded financing rounds, aggregated from public filings.
What is Foran Mining Corp's estimated valuation?
Provath's modeled valuation for Foran Mining Corp is approximately $42.2M (modeled range $31.3M–$55.6M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Foran Mining Corp at?
Foran Mining Corp's latest modeled financing stage is Series C. Its most recent recorded round closed around Fri Jul 11.
What does Foran Mining Corp do and where is it based?
Foran Mining Corp operates in the Mining & Resources sector, based in VANCOUVER.
Explore related

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