BMC Minerals, a Canadian-focused silver and gold explorer supported by the Smorgon family office, has announced plans for a $100 million initial public offering (IPO) on the Australian Securities Exchange (ASX). The IPO aims to value the company at over $500 million. The float is expected to be one of the largest mining IPOs on the ASX this year, driven by high gold prices and strong interest in critical minerals.
BMC Minerals’ primary asset is the Kudz Ze Kayah base metals project located in Yukon, Canada. The project is believed to hold significant deposits of zinc, silver, lead, gold, and copper. BMC Minerals anticipates that the Kudz Ze Kayah project will become Canada’s largest silver and zinc producer, and among the top 15 copper producers.
The company is offering shares priced between $1.90 and $2.30 each. The IPO is structured to raise $100 million before associated costs. Following the capital raise, BMC Minerals expects to achieve a market capitalisation ranging from $530 million to $610 million. The mine has an expected initial lifespan of nine years, with possibilities for future underground expansion.
