Corporate ActionMay 21, 2026, 04:53 PM
Lannister Mining to IPO 3M Shares at $4-$6/Share on NYSE American
AI Summary
Lannister Mining Corp. filed an amendment to its F-1 registration statement for an initial public offering of 3,000,000 Common Shares. The shares are expected to price between US$4 and US$6, aiming to raise US$15,000,000 at the midpoint, and will be listed on the NYSE American under "DRIL". The company, currently in the exploration stage for its Basin Gulch gold and silver project in Montana, reported a net loss of C$(1,181,999) for 2025 and anticipates no principal revenue until Q4 2026 at the earliest. It plans to establish a maiden mineral resource estimate in 2026 and a Preliminary Economic Assessment in 2027, building on significant historical exploration results.
Key Highlights
- Lannister Mining Corp. plans an initial public offering of 3,000,000 Common Shares.
- The estimated initial public offering price is between US$4 and US$6 per share, totaling US$15,000,000 at the midpoint.
- The company has applied to list its Common Shares on the NYSE American under the symbol "DRIL".
- Underwriters have a 45-day option to purchase an additional 450,000 Common Shares.
- Lannister Mining reported a net loss of C$(1,181,999) for the year ended September 30, 2025.
- The company aims to establish a maiden gold-silver mineral resource estimate in 2026 and a Preliminary Economic Assessment (PEA) in 2027.
- Historical drilling on the Basin Gulch Property includes intercepts like 0.096 opt Au over 240 feet.
- The Metesh family holds a 3% production royalty on gross gold and silver sales, capped at US$8 million.
Price Impact
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