Sunshine Silver Mining and Refining Is Back!
Something big happened recently for US domestic silver mining. The Sunshine Mine, located in Kellogg, Idaho, was the largest silver producing mine up until it closed in 2001. Up to that point it had produced over 300,000,000 ounces of silver! (Source)
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The Sunshine Silver Mining and Refining company that owns the mine just completed an IPO of common stock, which raised approximately $320,000,000 in capital. Their goal is to reopen the mine, continue exploration and open by 2028. It's estimated once the mine is fully functional it will increase US national silver production by fifteen percent! The best part is they have all of the equipment and infrastructure in place to mine, smelt and refine the ore into the final product! (Source)
I'm not a financial expert, but with silver prices as high as they are, I don't foresee them having any issues staying profitable. With how prevalent silver is now in technology, weapons and the medical industry, it's only going to help us as a country. I'll likely be purchasing some shares as a long-term hold. I could be wrong on it, but I'll take the risk.
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Damn, I wouldnt of minded some shares in them!
You still can. I don't think price has exploded just yet.
!BBH
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!ALIVE
I tried finding them on trading 212 but think im blind 🤣
!PIMP
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!BBH
!PIZZA
Did it come up searching by the company name? They may have given it a different ticker symbol. SSMR is what it was given for the NYSE.
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That is cool to hear that it is reopening, it's a very historic mine! Hopefully they do well and can stay in business!
!PIMP
!PIZZA
!BBH
Yeah, I'm hoping they'll do well reopening it. 😁
!BBH
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!ALIVE
Time for me to do some homework.
Working with the Trump -15% tax disadvantage being a Canadian investor should I buy into any American corp shares. Crunching the numbers.
!PIMP
Yeah, that's a tough one. Some stocks I'd love to invest in have a $50 foreign stock fee, which makes a lot of investments much less appealing.
!BBH
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