Companies · Other Energy

Sunshine Silver Mining & Refining Corp

DENVER · Other Energy

Diligence memoA one-page analyst read on Sunshine Silver Mining & Refining Corp — recommendation, valuation, rhythm, risks.
$37.0M
Total raised · real
4
Rounds
3.5×
Latest step-up
Top 13%
Sector rank · raised
Series B
Latest stage · inferred · Fri May 24 2019 00:00:00 GMT+0000 (Coordinated Universal Time)

Sunshine Silver Mining & Refining Corp looks fair 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 energy 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 1.43× the median modeled value of Series B Other Energy companies in 2019–2021 (30 peers) — value vs value, same stage and era.
  • Within the normal band (143% of peer median) for its niche.
Dormant
  • Last raise 7.1 yr ago; this sector typically re-raises about every 12 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 Other Energy

Sunshine Silver Mining & Refining Corp is one of 2048 Other Energy companies tracked from DENVER. By capital raised it ranks in the upper tier (ahead of 88% 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
8
Investors (latest)
2019-05-24
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$125M$250M$375M$500MPre-Seed · 2011-03-30 Raised $500K (real) Modeled valuation $8.1M (est)$500K$8.1MPre-Seed2011Series A · 2011-05-02 Raised $4.0M (real) Modeled valuation $43M (est)$4.0M$43MSeries A2011Series A · 2011-07-01 Raised $7.3M (real) Modeled valuation $77M (est)$7.3M$77MSeries A2011Series B · 2019-05-24 Raised $25M (real) Modeled valuation $292M (est)$25M$292MSeries B2019+$4.0M+$7.3M+$25MCumulative $37M

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$500K · 2011
Series A$4.0M · 2011no Seed on file
Series A extension$7.3M · 2011
Series B$25.2M · 2019

Stages are modeled from round size (public records carry no series label). No record for: 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
$292.3M
Base estimate est.
$59.8M
Conservative case
$1.1B
Upside case
$140.0M
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 energy sector profile. Directional, not a quoted figure.

Pre-Seed · modeled $8.1M · 2011-03-302011Series A · modeled $42.7M · 2011-05-02Series A · modeled $77.0M · 2011-07-01Series B · modeled $292.3M · 2019-05-242019
Model inputs · modeled:benchmark-stage-stepup-v1
18%
Dilution assumption
Implied ownership sold in the financing.
65%
Survival probability
43% low · 79% high
1.22×/yr
Annual markup
1.47×/yr upside case
6.0 yr
Elapsed time used
7.1 yr actual, capped for stale marks
energy
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
33 mo
Avg between rounds
$4.5M/yr
Capital velocity
15.3 yr
On record since
2011
First round
4
Rounds on file
How it compares to the market

Benchmarked against 2048 companies in Other Energy. 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) 11× above median
This company$37.0M
Sector median$3.4M
Latest round — vs other Series B rounds in sector (real $, this stage) 1.3× above median
This company$25.2M
Sector median$19.1M
Modeled value — vs sector median (estimate, all stages) 17× above median
This company$292.3M
Sector median$17.0M

Raised more than 88% of sector peers (real $). Modeled value above 92% 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 #6 of 30.

This companyCohort peer
$100.0M$1.0B$10.0M$100.0MCapital raised (log)CalBioGas Investors I LLC · Series B Raised $35.6M · modeled $412.9M (est)Crown Lng Holdings Llc · Series B Raised $40.0M · modeled $407.2M (est)PowerTeam Management Feeder, LLC · Series B Raised $30.2M · modeled $349.9M (est)Monarch Resource Partners Holdings LLC · Series B Raised $36.6M · modeled $320.7M (est)NG Advantage LLC · Series B Raised $50.6M · modeled $309.5M (est)BayoTech Holdings, LLC · Series B Raised $40.0M · modeled $286.5M (est)Resource Anadarko Royalties LLC · Series B Raised $23.8M · modeled $275.6M (est)Fuel Tech, Inc. · Series B Raised $25.8M · modeled $265.4M (est)Natural Power Concepts Commercial Inc. · Series B Raised $22.0M · modeled $255.2M (est)BHP Capital, Inc. · Series B Raised $22.0M · modeled $233.1M (est)Old Falls Group, LLC · Series B Raised $20.0M · modeled $232.1M (est)Sunshine Silver Mining & Refining Corp (this company) Raised $37.0M · modeled $292.3M (est)Sunshine Silver Mining & Refining Corp
CompanyStageRaised · realValue · estvs peer med.
CalBioGas Investors I LLCSeries B$35.6M$412.9M2.02×
Crown Lng Holdings LlcSeries B$40.0M$407.2M1.99×
PowerTeam Management Feeder, LLCSeries B$30.2M$349.9M1.71×
Monarch Resource Partners Holdings LLCSeries B$36.6M$320.7M1.57×
NG Advantage LLCSeries B$50.6M$309.5M1.51×
Sunshine Silver Mining & Refining Corp this companySeries B$37.0M$292.3M1.43×
BayoTech Holdings, LLCSeries B$40.0M$286.5M1.40×
Resource Anadarko Royalties LLCSeries B$23.8M$275.6M1.35×
Fuel Tech, Inc.Series B$25.8M$265.4M1.30×
Natural Power Concepts Commercial Inc.Series B$22.0M$255.2M1.25×
BHP Capital, Inc.Series B$22.0M$233.1M1.14×
Old Falls Group, LLCSeries B$20.0M$232.1M1.13×
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$500K2011-03-30$2.8M$8.1M85%
Series A$4.0M2011-05-02$18.3M$42.7M85%
Series A$7.3M2011-07-01$33.1M$77.0M85%
Series B$25.2M2019-05-24$140.0M$292.3M90%
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. Pre-Seed$500K2011-03-30
    • First recorded raise — entered as Pre-Seed.
    • 1 investor on this round.
  2. Series A$4.0M2011-05-02
    • Came back fast: 1 mo vs the ~12 mo sector norm.
    • Round 8.1× larger than the prior — scaling up.
    • 2 investors on this round.
  3. Series A$7.3M2011-07-01
    • Came back fast: 2 mo vs the ~12 mo sector norm.
    • Round 1.8× larger than the prior — scaling up.
  4. Series B$25.2M2019-05-24
    • Raised again after 95 mo — slower than the ~12 mo sector norm.
    • Round 3.5× larger than the prior — scaling up.
    • Switched to Rule 506(b) (was Rule 06).
    • 8 investors on this round.
Intelligence
2022 ~Q1
Modeled next raise · ~33mo cadence
$75.6M
Modeled next size est.range $49.1M$120.9M
3.5×
Last step-up
$4.5M/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
Michael Williams26 other2011-03
Ali Erfan2 other2019-05
Andrew Shapiro1 other2011-03
Stephen Orr1 other2011-05
ADAM FELIPE DUBAS2019-05
DAVID FELIPE PEAT2019-05
Emily Goldberg2011-03
Guy Weltsch2011-03
IGOR LEVENTHAL2019-05
JEB FELIPE BURNS2019-05
JOHN KINYON2019-05
KARL FELIPE HANNEMAN2019-05
LUIS FELIPE HUERTA2019-05
PHIL PYLE2019-05
ROBERTO DIAZ2019-05
Roger Johnson2011-03
WAYNE FELIPE KIRK2019-05
Registry & provenance

Sunshine Silver Mining & Refining 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
1517006
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
Aether Fuels Pte. Ltd.Other EnergySeries B$36.9M$198.2Msame sector · same stage
VEIR, Inc.Other EnergySeries B$36.7M$165.2Msame sector · same stage
Monarch Resource Partners Holdings LLCOther EnergySeries B$36.6M$320.7Msame sector · same stage
OPX Biotechnologies IncOther EnergySeries B$36.5M$423.5Msame sector · same stage
Nexlube Operating LlcOther EnergySeries B$38.0M$440.9Msame sector · same stage
David Energy Systems, Inc.Other EnergySeries B$38.1M$87.0Msame sector · same stage
FlexEnergy, Inc.Other EnergySeries B$38.2M$217.5Msame sector · same stage
Sustainx IncOther EnergySeries B$38.4M$232.1Msame 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
Sunwealth Power, Inc.Other EnergySeries A$6.8M88%
Sunshine Silver Mining & Refining CoMining & ResourcesSeries C$241.9M88%
Sunnova Energy CorpOther EnergySeries D+$2.1B88%
G Mining Ventures Corp.Other EnergySeed$30.4M88%
Sunnova Energy International Inc.Other EnergySeries D+$2.2B87%
Farm to Flame Energy Inc.Other EnergyPre-Seed$707K87%
Sunrock Distributed Generation Inc.Other EnergySeries A$66.5M87%
Sunverge Energy, Inc.Other EnergySeries A$10.6M87%
Frequently asked
How much funding has Sunshine Silver Mining & Refining Corp raised?
Sunshine Silver Mining & Refining Corp has raised approximately $37.0M in disclosed capital across 4 recorded financing rounds, aggregated from public filings.
What is Sunshine Silver Mining & Refining Corp's estimated valuation?
Provath's modeled valuation for Sunshine Silver Mining & Refining Corp is approximately $292.3M (modeled range $59.8M–$1.1B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Sunshine Silver Mining & Refining Corp at?
Sunshine Silver Mining & Refining Corp's latest modeled financing stage is Series B. Its most recent recorded round closed around Fri May 24.
What does Sunshine Silver Mining & Refining Corp do and where is it based?
Sunshine Silver Mining & Refining Corp operates in the Other Energy sector, based in DENVER.
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