Silver Bow Mining (SBMT) Registration filing summary

Company overview and business model

• Focuses on exploration of silver, zinc, gold, lead, and copper in Montana, USA, with primary asset being the Rainbow Block, an 878-acre property in the historic Butte Mining District.

• Holds approximately 4,193 acres of patented mineral claims and 1,410 acres of surface rights across several blocks, with Rainbow Block as the only material property under active exploration.

• No history of mineral production or operating revenues; business plan centers on advancing Rainbow Block through exploration and feasibility studies.

• Utilizes proprietary artificial intelligence to analyze historical exploration data and prioritize drilling targets.

• Operates through four wholly-owned subsidiaries and maintains its head office in Butte, Montana.

Financial performance and metrics

• Reported net losses of $10.37 million in 2025 and $4.81 million in 2024, with no operating revenues.

• Cash and cash equivalents were $10.55 million as of December 31, 2025, up from $255,630 in 2024.

• Total assets increased to $49.72 million in 2025 from $38.57 million in 2024.

• Stock-based compensation was a significant expense, totaling $5.3 million in 2025.

• Working capital surplus of $9.47 million at year-end 2025, compared to a deficit of $4.26 million in 2024.

Use of proceeds and capital allocation

• Plans to use $45.5 million in net IPO proceeds for surface and underground drilling, underground rehabilitation, metallurgical test work, environmental studies, NYSE listing fees, salaries, professional fees, and general corporate purposes.

• Major exploration and development milestones targeted for completion by Q1 2027, including drilling, underground work, and feasibility-level studies.

• Any proceeds from over-allotment option will fund further mining and exploration activities and working capital.