Companies · Mining & Resources

Rubicon Minerals Corp

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

Diligence memoA one-page analyst read on Rubicon Minerals Corp — recommendation, valuation, rhythm, risks.
$21.9M
Total raised · real
4
Rounds
15.5×
Latest step-up
Top 10%
Sector rank · raised
Series B
Latest stage · inferred · Thu Oct 10 2019 00:00:00 GMT+0000 (Coordinated Universal Time)

Rubicon Minerals Corp looks under-valued against its niche peers and is dormant 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 0.11× the median modeled value of Series B Mining & Resources companies in 2019–2021 (9 peers) — value vs value, same stage and era.
Dormant
  • Last raise 6.7 yr ago; this sector typically re-raises about every 11 months.
  • Silent for over 3× the sector's normal cadence.
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

Rubicon Minerals Corp is one of 701 Mining & Resources companies tracked from Toronto. By capital raised it ranks among the largest (ahead of 91% 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
3
Investors (latest)
2019-10-10
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$13M$25M$38M$50MSeed · 2009-03-05 Raised $1.0M (real) Modeled valuation $5.5M (est)$1.0M$5.5MSeed2009Series A · 2009-11-12 Raised $9.7M (real) Modeled valuation $42M (est)$9.7M$42MSeries A2009Series A · 2012-02-29 Raised $10M (real) Modeled valuation $45M (est)$10M$45MSeries A2012Series B · 2015-09-04 Raised $125K (real) Modeled valuation $600K (est)$125K$600KSeries B2015Series B · 2019-10-10 Raised $1.9M (real) Modeled valuation $9.3M (est)$1.9M$9.3MSeries B2019+$9.7M+$10M+$125K+$1.9MCumulative $23M

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
Seed$1.0M · 2009
Series A$9.7M · 2009
Series A extension$10.2M · 2012
Series B$125K · 2015
Series B extension$1.9M · 2019

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed — 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
$9.3M
Base estimate est.
$4.6M
Conservative case
$35.7M
Upside case
$10.7M
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.

Seed · modeled $5.5M · 2009-03-052009Series A · modeled $42.3M · 2009-11-12Series A · modeled $44.6M · 2012-02-29Series B · modeled $600K · 2015-09-04Series B · modeled $9.3M · 2019-10-102019
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
6.0 yr
Elapsed time used
6.7 yr actual, capped for stale marks
extractive
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
32 mo
Avg between rounds
$2.1M/yr
Capital velocity
17.3 yr
On record since
2009
First round
5
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) 9.5× above median
This company$21.9M
Sector median$2.3M
Latest round — vs other Series B rounds in sector (real $, this stage) 0.3× of median
This company$1.9M
Sector median$6.3M
Modeled value — vs sector median (estimate, all stages) 3.7× above median
This company$9.3M
Sector median$2.5M

Raised more than 91% of sector peers (real $). Modeled value above 78% 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 #9 of 9.

This companyCohort peer
$1.0M$10.0M$100.0M$1.0B$10.0M$100.0MCapital raised (log)Blockware Mining, LLC · Series B Raised $34.0M · modeled $163.1M (est)Universe Exploration Co · Series B Raised $43.8M · modeled $133.8M (est)Metal Oxide Technologies LLC · Series B Raised $36.1M · modeled $126.6M (est)GS Mining Co LLC · Series B Raised $26.6M · modeled $96.0M (est)Hunter Douglas Metals LLC · Series B Raised $18.0M · modeled $86.4M (est)Eurasia Mining plc · Series B Raised $34.6M · modeled $66.5M (est)Besra Gold Inc. · Series B Raised $76.8M · modeled $13.3M (est)Premier Gold Mines Ltd · Series B Raised $37.1M · modeled $10.7M (est)Rubicon Minerals Corp (this company) Raised $21.9M · modeled $9.3M (est)Rubicon Minerals Corp
CompanyStageRaised · realValue · estvs peer med.
Blockware Mining, LLCSeries B$34.0M$163.1M1.89×
Universe Exploration CoSeries B$43.8M$133.8M1.55×
Metal Oxide Technologies LLCSeries B$36.1M$126.6M1.47×
GS Mining Co LLCSeries B$26.6M$96.0M1.11×
Hunter Douglas Metals LLCSeries B$18.0M$86.4M1.00×
Eurasia Mining plcSeries B$34.6M$66.5M0.77×
Besra Gold Inc.Series B$76.8M$13.3M0.15×
Premier Gold Mines LtdSeries B$37.1M$10.7M0.12×
Rubicon Minerals Corp this companySeries B$21.9M$9.3M0.11×
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.
Seed$1.0M2009-03-05$5.1M$5.5M85%
Series A$9.7M2009-11-12$44.0M$42.3M85%
Series A$10.2M2012-02-29$46.4M$44.6M85%
Series B$125K2015-09-04$694K$600K85%
Series B$1.9M2019-10-10$10.7M$9.3M90%
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. Seed$1.0M2009-03-05
    • First recorded raise — entered as Seed.
    • 3 investors on this round.
  2. Series A$9.7M2009-11-12
    • Raised 8 mo later, in step with the ~11 mo sector norm.
    • Round 9.5× larger than the prior — scaling up.
    • Revenue band moved $25M–$100M → $0–$1M.
    • 3 investors on this round.
  3. Series A$10.2M2012-02-29
    • Raised again after 28 mo — slower than the ~11 mo sector norm.
    • Round roughly the size of the prior one.
    • 17 investors on this round.
  4. Series B$125K2015-09-04
    • Raised again after 42 mo — slower than the ~11 mo sector norm.
    • Round 81.6× smaller than the prior — bridge or down round.
    • Switched to Rule 506(b) (was Rule 06).
    • 1 investor on this round.
  5. Series B$1.9M2019-10-10
    • Raised again after 49 mo — slower than the ~11 mo sector norm.
    • Round 15.5× larger than the prior — scaling up.
    • 3 investors on this round.
Intelligence
2022 ~Q2
Modeled next raise · ~32mo cadence
$5.8M
Modeled next size est.range $3.8M$9.3M
15.5×
Last step-up
$2.1M/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
David Palmer5 other2019-10
Daniel Burns4 other2019-10
Peter Jones4 other2019-10
Julian Kemp2 other2019-10
Chris Bradbrook1 other2009-03
David W. Adamson1 other2009-03
George Ogilvie1 other2019-10
Kevin Sherkin1 other2009-03
Nicholas J. Nikolakakis1 other2015-09
Nicholas Nikolakakis1 other2019-10
Allan M. Candelario2015-09
Bill Cavalluzzo2009-03
Bill C. Cavalluzzo2012-02
Bill W. Cavalluzzo2009-11
Bruce A. Thomas2009-11
Chris G. Bradbrook2009-11
Christopher J. Bradbrook2012-02
Claude D. Bouchard2012-02
Claude W. Bouchard2009-11
David R. Beatty2015-09
David R. Reid2009-03
Glenn C. Kumoi2012-02
Glenn M. Kumoi2015-09
Howard M. Bird2015-09
Registry & provenance

Rubicon Minerals 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
1057791
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
MARATHON GOLD CorpMining & ResourcesSeries B$27.2M$92.4Mnetwork1 shared operator · same sector · same stage
Arizona Sonoran Copper Co Inc.Mining & ResourcesSeries A$11.1M$35.5Mnetwork2 shared operators · same sector
Probe Metals Inc.Mining & ResourcesSeries A$18.3M$15.8Mnetwork1 shared operator · same sector
Western Alaska Minerals Corp.Mining & ResourcesSeries B$28.0M$4.6Msame sector · same stage
Platinum Group Metals LtdMining & ResourcesSeries B$35.7M$12.0Msame sector · same stage
Premier Gold Mines LtdMining & ResourcesSeries B$37.1M$10.7Msame sector · same stage
Orezone Gold CorpMining & ResourcesSeries B$43.9M$10.5Msame 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
MINERALRITE CorpMining & ResourcesSeries D+$1.1B87%
Metallic Minerals Corp.Mining & ResourcesSeed$7.5M84%
Gemdale Gold, IncMining & ResourcesPre-Seed$496K83%
Orex Minerals IncMining & ResourcesSeed$1.6M83%
Orestone Mining Corp.Mining & ResourcesPre-Seed$325K83%
Cerro Mining Corp.Mining & ResourcesSeries A$23.5M83%
Rua Gold Inc.Mining & ResourcesSeries A$25.0M82%
Metalite Resources Inc.OtherPre-Seed$5.6M82%
Frequently asked
How much funding has Rubicon Minerals Corp raised?
Rubicon Minerals Corp has raised approximately $21.9M in disclosed capital across 4 recorded financing rounds, aggregated from public filings.
What is Rubicon Minerals Corp's estimated valuation?
Provath's modeled valuation for Rubicon Minerals Corp is approximately $9.3M (modeled range $4.6M–$35.7M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Rubicon Minerals Corp at?
Rubicon Minerals Corp's latest modeled financing stage is Series B. Its most recent recorded round closed around Thu Oct 10.
What does Rubicon Minerals Corp do and where is it based?
Rubicon Minerals Corp operates in the Mining & Resources sector, based in Toronto.
Explore related

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