Companies · Mining & Resources

Silver Spruce Resources Inc.

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

Diligence memoA one-page analyst read on Silver Spruce Resources Inc. — recommendation, valuation, rhythm, risks.
$1.0M
Total raised · real
5
Rounds
1.2×
Latest step-up
Top 64%
Sector rank · raised
Pre-Seed
Latest stage · inferred · Tue Mar 28 2023 00:00:00 GMT+0000 (Coordinated Universal Time)

Silver Spruce Resources Inc. looks fair against its niche peers and is at-risk 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 1.49× the median modeled value of Pre-Seed Mining & Resources companies in 2022–2024 (80 peers) — value vs value, same stage and era.
  • Within the normal band (149% of peer median) for its niche.
At-risk
  • Last raise 3.3 yr ago; this sector typically re-raises about every 11 months.
  • Past due for a raise versus sector cadence — watch for distress or a bridge.
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

Silver Spruce Resources Inc. is one of 701 Mining & Resources companies tracked from Bedford. By capital raised it ranks in the long tail (ahead of 37% of sector peers), and in the long tail 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
24
Investors (latest)
2023-03-28
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$500K$1.0M$1.5M$2.0MPre-Seed · 2016-08-22 Raised $134K (real) Modeled valuation $896K (est)$134K$896KPre-Seed2016Pre-Seed · 2019-08-15 Raised $189K (real) Modeled valuation $1.3M (est)$189K$1.3MPre-Seed2019Pre-Seed · 2020-08-18 Raised $154K (real) Modeled valuation $996K (est)$154K$996KPre-Seed2020Pre-Seed · 2021-09-29 Raised $249K (real) Modeled valuation $1.2M (est)$249K$1.2MPre-Seed2021Pre-Seed · 2023-03-28 Raised $304K (real) Modeled valuation $1.1M (est)$304K$1.1MPre-Seed2023+$189K+$154K+$249K+$304KCumulative $1.0M

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$134K · 2016
Pre-Seed extension$189K · 2019
Pre-Seed extension$154K · 2020
Pre-Seed extension$249K · 2021
Pre-Seed extension$304K · 2023

Stages are modeled from round size (public records carry no series label). Ladder is contiguous — every modeled rung has a record.

Modeled valuation trajectory
$1.1M
Base estimate est.
$193K
Conservative case
$5.2M
Upside case
$1.7M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Pre-Seeda round under $1.0M). Valuation is modeled from stage benchmarks scaled by the extractive sector profile. Directional, not a quoted figure.

Pre-Seed · modeled $896K · 2016-08-222016Pre-Seed · modeled $1.3M · 2019-08-15Pre-Seed · modeled $996K · 2020-08-18Pre-Seed · modeled $1.2M · 2021-09-29Pre-Seed · modeled $1.1M · 2023-03-282023
Model inputs · modeled:benchmark-stage-stepup-v1
18%
Dilution assumption
Implied ownership sold in the financing.
28%
Survival probability
11% low · 52% high
1.27×/yr
Annual markup
1.72×/yr upside case
3.3 yr
Elapsed time used
3.3 yr actual, capped for stale marks
extractive
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
20 mo
Avg between rounds
$156K/yr
Capital velocity
9.9 yr
On record since
2016
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) 0.4× of median
This company$1.0M
Sector median$2.3M
Latest round — vs other Pre-Seed rounds in sector (real $, this stage) 1.1× above median
This company$304K
Sector median$271K
Modeled value — vs sector median (estimate, all stages) 0.4× of median
This company$1.1M
Sector median$2.5M

Raised more than 37% of sector peers (real $). Modeled value above 34% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Pre-Seed) 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 #25 of 80.

This companyCohort peer
$100K$1.0M$10.0M$100K$1.0M$10.0MCapital raised (log)CMC Metals Ltd. · Pre-Seed Raised $815K · modeled $3.7M (est)Blueprint Mining I LLC · Pre-Seed Raised $830K · modeled $3.6M (est)US Critical Metals Corp. · Pre-Seed Raised $819K · modeled $3.6M (est)Infinitum Copper Corp. · Pre-Seed Raised $803K · modeled $3.3M (est)Advanced Gold Exploration Inc. · Pre-Seed Raised $999K · modeled $3.1M (est)Power Metal Resources PLC · Pre-Seed Raised $793K · modeled $2.6M (est)American Metal LLC · Pre-Seed Raised $850K · modeled $2.4M (est)Double Gold Holdings, Inc. · Pre-Seed Raised $900K · modeled $2.4M (est)Silver Bay Seafoods-California, LLC · Pre-Seed Raised $630K · modeled $2.4M (est)Radisson Mining Resources Inc. · Pre-Seed Raised $976K · modeled $2.3M (est)Majuba Hill Copper Corp. · Pre-Seed Raised $622K · modeled $2.0M (est)Bald Eagle Gold Corp. · Pre-Seed Raised $662K · modeled $1.9M (est)Silver Spruce Resources Inc. (this company) Raised $1.0M · modeled $1.1M (est)Silver Spruce Resources Inc.
CompanyStageRaised · realValue · estvs peer med.
CMC Metals Ltd.Pre-Seed$815K$3.7M5.19×
Blueprint Mining I LLCPre-Seed$830K$3.6M5.05×
US Critical Metals Corp.Pre-Seed$819K$3.6M5.05×
Infinitum Copper Corp.Pre-Seed$803K$3.3M4.64×
Advanced Gold Exploration Inc.Pre-Seed$999K$3.1M4.34×
Power Metal Resources PLCPre-Seed$793K$2.6M3.75×
American Metal LLCPre-Seed$850K$2.4M3.45×
Double Gold Holdings, Inc.Pre-Seed$900K$2.4M3.36×
Silver Bay Seafoods-California, LLCPre-Seed$630K$2.4M3.34×
Radisson Mining Resources Inc.Pre-Seed$976K$2.3M3.28×
Majuba Hill Copper Corp.Pre-Seed$622K$2.0M2.88×
Bald Eagle Gold Corp.Pre-Seed$662K$1.9M2.75×
Silver Spruce Resources Inc. this companyPre-Seed$1.0M$1.1M1.49×
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$134K2016-08-22$746K$896K90%
Pre-Seed$189K2019-08-15$1.0M$1.3M90%
Pre-Seed$154K2020-08-18$856K$996K90%
Pre-Seed$249K2021-09-29$1.4M$1.2M90%
Pre-Seed$304K2023-03-28$1.7M$1.1M90%
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$134K2016-08-22
    • First recorded raise — entered as Pre-Seed.
    • 3 investors on this round.
  2. Pre-Seed$189K2019-08-15
    • Raised again after 36 mo — slower than the ~11 mo sector norm.
    • Round 1.4× larger than the prior — scaling up.
    • 1 investor on this round.
  3. Pre-Seed$154K2020-08-18
    • Raised 12 mo later, in step with the ~11 mo sector norm.
    • Round roughly the size of the prior one.
    • 9 investors on this round.
  4. Pre-Seed$249K2021-09-29
    • Raised 13 mo later, in step with the ~11 mo sector norm.
    • Round 1.6× larger than the prior — scaling up.
    • 20 investors on this round.
  5. Pre-Seed$304K2023-03-28
    • Raised again after 18 mo — slower than the ~11 mo sector norm.
    • Round roughly the size of the prior one.
    • 24 investors on this round.
Intelligence
2024 ~Q4
Modeled next raise · ~20mo cadence
$372K
Modeled next size est.range $304K$595K
1.2×
Last step-up
$156K/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
Kevin O'Connor7 other2020-08
MICHAEL KINLEY4 other2021-09
Camilla Cormier1 other2020-08
KARL J. BOLTZ1 other2016-08
Art Brown2020-08
ARTHUR J. BROWN2016-08
BRIAN J. PENNEY2016-08
Brian Penney2020-08
Greg Davison2020-08
Kevin Thieneman2020-08
Registry & provenance

Silver Spruce Resources 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
1771039
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
Colibri Resource CorpOtherPre-Seed$906K$578Knetwork2 shared operators · same stage
Plata Latina Minerals CorpMining & ResourcesPre-Seed$1.0M$1.6Msame sector · same stage
Treasury Metals IncMining & ResourcesPre-Seed$1.0M$705Ksame sector · same stage
Silver Bay Seafoods - Naknek, LLCMining & ResourcesPre-Seed$1.0M$367Ksame sector · same stage
Metal Stacks, LLCMining & ResourcesPre-Seed$1.0M$756Ksame sector · same stage
Advanced Gold Exploration Inc.Mining & ResourcesPre-Seed$999K$3.1Msame sector · same stage
ACME Lithium Inc.Mining & ResourcesPre-Seed$998K$3.2Msame sector · same stage
Emergent Metals Corp.Mining & ResourcesPre-Seed$1.1M$191Ksame 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
Silver Mountain Resources, Inc.Mining & ResourcesSeed$1.4M90%
Silver Scott Mines IncMining & ResourcesSeed$5.1M88%
Silver Bull Resources, Inc.Mining & ResourcesSeries A$398K86%
Silver Dollar Resources Inc.Mining & ResourcesPre-Seed$1.3M86%
Silver X Mining Corp.Mining & ResourcesSeed$4.4M85%
Silver Bow Mining Corp.Mining & ResourcesSeed$2.6M85%
Silver Storm Mining Ltd.Mining & ResourcesPre-Seed$211K85%
Silver Tiger Metals Inc.Mining & ResourcesSeries A$25.1M84%
Frequently asked
How much funding has Silver Spruce Resources Inc. raised?
Silver Spruce Resources Inc. has raised approximately $1.0M in disclosed capital across 5 recorded financing rounds, aggregated from public filings.
What is Silver Spruce Resources Inc.'s estimated valuation?
Provath's modeled valuation for Silver Spruce Resources Inc. is approximately $1.1M (modeled range $193K–$5.2M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Silver Spruce Resources Inc. at?
Silver Spruce Resources Inc.'s latest modeled financing stage is Pre-Seed. Its most recent recorded round closed around Tue Mar 28.
What does Silver Spruce Resources Inc. do and where is it based?
Silver Spruce Resources Inc. operates in the Mining & Resources sector, based in Bedford.
Explore related

See where Silver Spruce Resources Inc. sits in the wider market — its sector, location and stage cohorts, each with their own leaderboards and capital-flow timelines.

Is this your company?

If you work at Silver Spruce Resources Inc., claim this profile or suggest a correction. We aggregate from public filings, so help us keep your description, website and links accurate.

Is this your company? Update your profile or add contact details — and choose exactly who can reach you. Reviewed before anything is published.