Companies · Mining & Resources

Lost River Mining, Inc.

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

Diligence memoA one-page analyst read on Lost River Mining, Inc. — recommendation, valuation, rhythm, risks.
$51.2M
Total raised · real
4
Rounds
0.2×
Latest step-up
Top 4%
Sector rank · raised
Series B
Latest stage · inferred · Wed Sep 24 2025 00:00:00 GMT+0000 (Coordinated Universal Time)

Lost River Mining, Inc. looks under-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.

Under-valued
  • Modeled value is 0.17× the median modeled value of Series B Mining & Resources companies in 2025–2027 (15 peers) — value vs value, same stage and era.
Active
  • Last raise 9 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

Lost River Mining, Inc. is one of 701 Mining & Resources companies tracked from JUNEAU. By capital raised it ranks among the largest (ahead of 97% of sector peers), and in the upper tier 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
62
Investors (latest)
2021
Year incorporated
2025-09-24
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 A · 2021-09-09 Raised $11M (real) Modeled valuation $44M (est)Series A2021Series B · 2021-09-09 Raised $18M (real) Modeled valuation $81M (est)Series B2021Series B · 2021-09-20 Raised $2.7M (real) Modeled valuation $12M (est)Series B2021Series B · 2023-04-13 Raised $20M (real) Modeled valuation $84M (est)Series B2023Series B · 2023-06-21 Raised $40M (real) Modeled valuation $166M (est)Series B2023Series B · 2023-12-07 Raised $5.0M (real) Modeled valuation $20M (est)Series B2023Series B · 2024-09-26 Raised $20M (real) Modeled valuation $78M (est)Series B2024Series B · 2025-09-24 Raised $3.5M (real) Modeled valuation $13M (est)Series B2025+$18M+$2.7M+$20M+$40M+$5.0M+$20M+$3.5MCumulative $120M

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 A$11.3M · 2021
Series B$17.9M · 2021
Series B extension$2.7M · 2021
Series B extension$20.0M · 2023
Series B extension$40.0M · 2023
Series B extension$5.0M · 2023
Series B extension$20.0M · 2024
Series B extension$3.5M · 2025

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 50%.

Modeled valuation trajectory
$13.0M
Base estimate est.
$8.3M
Conservative case
$18.4M
Upside case
$19.4M
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.

Series A · modeled $43.7M · 2021-09-092021Series B · modeled $81.0M · 2021-09-09Series B · modeled $12.4M · 2021-09-20Series B · modeled $83.9M · 2023-04-13Series B · modeled $166.2M · 2023-06-21Series B · modeled $20.3M · 2023-12-07Series B · modeled $78.2M · 2024-09-26Series B · modeled $13.0M · 2025-09-242025
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
0.8 yr
Elapsed time used
0.8 yr actual, capped for stale marks
extractive
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
7 mo
Avg between rounds
$12.7M/yr
Capital velocity
4.8 yr
On record since
2021
First round
8
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) 22× above median
This company$51.2M
Sector median$2.3M
Latest round — vs other Series B rounds in sector (real $, this stage) 0.6× of median
This company$3.5M
Sector median$6.3M
Modeled value — vs sector median (estimate, all stages) 5.2× above median
This company$13.0M
Sector median$2.5M

Raised more than 97% of sector peers (real $). Modeled value above 82% 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 #11 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)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)Western Alaska Minerals Corp. · Series B Raised $28.0M · modeled $4.6M (est)Lost River Mining, Inc. (this company) Raised $51.2M · modeled $13.0M (est)Lost River Mining, Inc.
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.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. this companySeries 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 A$11.3M2021-09-09$51.3M$43.7M90%
Series B$17.9M2021-09-09$99.3M$81.0M90%
Series B$2.7M2021-09-20$15.3M$12.4M90%
Series B$20.0M2023-04-13$111.1M$83.9M90%
Series B$40.0M2023-06-21$222.2M$166.2M90%
Series B$5.0M2023-12-07$27.8M$20.3M90%
Series B$20.0M2024-09-26$111.1M$78.2M90%
Series B$3.5M2025-09-24$19.4M$13.0M90%
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 A$11.3M2021-09-09
    • First recorded raise — entered as Series A.
    • 40 investors on this round.
  2. Series B$17.9M2021-09-09
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 1.6× larger than the prior — scaling up.
    • 45 investors on this round.
  3. Series B$2.7M2021-09-20
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 6.5× smaller than the prior — bridge or down round.
  4. Series B$20.0M2023-04-13
    • Raised again after 19 mo — slower than the ~11 mo sector norm.
    • Round 7.3× larger than the prior — scaling up.
  5. Series B$40.0M2023-06-21
    • Came back fast: 2 mo vs the ~11 mo sector norm.
    • Round 2.0× larger than the prior — scaling up.
  6. Series B$5.0M2023-12-07
    • Came back fast: 6 mo vs the ~11 mo sector norm.
    • Round 8.0× smaller than the prior — bridge or down round.
  7. Series B$20.0M2024-09-26
    • Raised 10 mo later, in step with the ~11 mo sector norm.
    • Round 4.0× larger than the prior — scaling up.
  8. Series B$3.5M2025-09-24
    • Raised 12 mo later, in step with the ~11 mo sector norm.
    • Round 5.7× smaller than the prior — bridge or down round.
    • 62 investors on this round.
Intelligence
2026 ~Q2
Modeled next raise · ~7mo cadence
$3.5M
Modeled next size est.range $3.5M$5.6M
0.2×
Last step-up
$12.7M/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
Daniel Clark Freuman2021-09
Daniel E. Freuman2023-12
Daniel Freuman2024-09
Daniel Travis Miller2021-09
John Clark Gillam2021-09
John Clark Odden2024-09
Lance Clark Miller2023-04
Lance E. Miller2023-12
Travis Clark Miller2023-04
Travis E. Miller2023-12
Will Clark Lamb2023-06
Registry & provenance

Lost River Mining, Inc. 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
1883196
SEC CIK
2021
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
Orezone Gold CorpMining & ResourcesSeries B$43.9M$10.5Msame sector · same stage
Premier Gold Mines LtdMining & ResourcesSeries B$37.1M$10.7Msame sector · same stage
Platinum Group Metals LtdMining & ResourcesSeries B$35.7M$12.0Msame sector · same stage
Besra Gold Inc.Mining & ResourcesSeries B$76.8M$13.3Msame sector · same stage
Western Alaska Minerals Corp.Mining & ResourcesSeries B$28.0M$4.6Msame sector · same stage
International Tower Hill Mines LtdMining & ResourcesSeries B$96.9M$15.1Msame sector · same stage
Rubicon Minerals CorpMining & ResourcesSeries B$21.9M$9.3Msame sector · same stage
Sabina Gold & Silver Corp.Mining & ResourcesSeries C$49.9M$1.7Msame 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
E M Mining, Inc.Mining & ResourcesPre-Seed$4.0M84%
Gold Express Mines, Inc.Mining & ResourcesSeries A$2.0M83%
360 Mining, Inc.Mining & ResourcesSeries A$43.7M83%
Coeur Mining, Inc.Mining & ResourcesSeries B$100.5M83%
Apex Mining, LLCMining & ResourcesPre-Seed$5.5M83%
Magna Mining Inc.Mining & ResourcesSeries A$12.2M83%
B & N Mining, Inc.Mining & ResourcesSeed$6.1M83%
Goldsource Mines Inc.Mining & ResourcesSeries A$869K82%
Frequently asked
How much funding has Lost River Mining, Inc. raised?
Lost River Mining, Inc. has raised approximately $51.2M in disclosed capital across 4 recorded financing rounds, aggregated from public filings.
What is Lost River Mining, Inc.'s estimated valuation?
Provath's modeled valuation for Lost River Mining, Inc. is approximately $13.0M (modeled range $8.3M–$18.4M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Lost River Mining, Inc. at?
Lost River Mining, Inc.'s latest modeled financing stage is Series B. Its most recent recorded round closed around Wed Sep 24.
What does Lost River Mining, Inc. do and where is it based?
Lost River Mining, Inc. operates in the Mining & Resources sector, based in JUNEAU.
Explore related

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