Bunker Hill Mining Corp.
Bunker Hill Mining Corp. is redeveloping the historic Bunker Hill silver-lead-zinc mine in Kellogg, Idaho (Silver Valley), which ceased operations more than 45 years ago. After six years of redevelopment, the mine moved from construction to ramp-up: on 31 Jul 2026 the company shipped its first concentrate to Teck Resources' Trail Smelter (British Columbia), the mine's first revenue generation from concentrate sales in over four decades, following commissioning of its 1,800 tpa processing plant. Over 20,000 tons of ore were stockpiled at the crusher as of the announcement, with plans to ramp mining toward the mill's 1,800 tpa design level and ~9 concentrate trucks/day at steady state; management targets full commercial production by year-end 2026. Stage=PRODUCTION: real concentrate sales are generating revenue under offtake to Teck's Trail Smelter since 31 Jul 2026, with a first production stope blast 17 Aug 2026; 'full commercial production' by year-end 2026 is the company's own internally-defined ramp-completion KPI (90 days at >65% of 1,800tpa design throughput), not a claim that sales haven't started. On 30 Jul 2026 the company drew $5.0m on a Teck-provided Standby Facility (13.5%/yr interest) with a further $5.0m available, to support working capital through ramp-up. CEO and President is Sam Ash.
Notable vs. Peers
- Jurisdiction risk score of 9/10 is meaningfully safer than the peer average of 6.9/10.
Lifecycle Milestones
Construction Milestones
4 of 5 reached- Apr 2024 · Idaho Department of Environmental Quality granted Bunker Hill Mining its Pre-Permit to Construct on 30 April 2024 -- the approval that directly enabled construction of the processing plant to begin days later. Replaces a Task-era placeholder note that read 'Permits for the mine redevelopment were in place well before the 2026 restart (historic operating mine); no specific dated permit-grant announcement located this pass' and carried no sourceUrl at all: a real, dated, named regulatory grant now stands in its place. Later operating approvals for the same restart are recorded here for completeness but are NOT used as this row's achievedDate, since they follow rather than authorise construction: the Multi-Sector General Permit (stormwater) was received 8 Aug 2025 and the Tier operating air permit 29 Sep 2025, and MSHA recategorised the mine from 'Active: Non-Producing' to 'Active: Producing' on 3 Dec 2025. · Source
- Reached — date not disclosed · Redevelopment decision predates this research pass by several years ('six years of redevelopment' referenced as of Jul 2026); no specific dated FID announcement located.
- Reached — date not disclosed · Construction of the Bunker Hill processing plant began in early May 2024, announced by the company on 21 May 2024 in 'Bunker Hill Begins Construction of Processing Plant and Starts Resource Expansion Drill Program,' immediately following the 30 Apr 2024 Idaho DEQ Pre-Permit to Construct recorded on this miner's PERMIT_GRANTED row. Only month-level precision ('early May 2024') is disclosed -- no exact day appears in the announcement or any coverage found -- so achievedDate is left null per the house pattern rather than inventing a day. Replaces a placeholder note that read 'Construction/redevelopment of the processing plant and mine has been underway for approximately six years as of Jul 2026; no specific dated construction-start announcement located' and carried no sourceUrl. · Source
- Jul 2026 · First concentrate shipped to Teck's Trail Smelter on 31 Jul 2026 -- first revenue-generating production since the mine closed more than 45 years ago. · Source
- Not yet reachedExpected Q4 2026 (company guidance, 17 Aug 2026) · Bunker Hill's own quantified threshold: commercial production means '90 days at >65% of 1800tpd throughput and associated operating stability.' Its 17 Aug 2026 release is headlined 'First Stope Blast on Track for Commercial Production in Q4 2026,' with CEO Sam Ash quoted as 'on track to achieve commercial production by year-end.' This is the sharpest guidance of the six -- a company-defined, quantified, dated threshold. · Source
Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal the underlying research identifies — whether a major already holds a JV, earn-in, or 5–19.9% strategic stake — isn't tracked yet and is absent from this score.
Your Rankings
Management Team
President and CEO of Bunker Hill Mining Corp.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Teck Resources, one of Canada's largest diversified mining companies, holds 12,653,317 shares (27.1% non-diluted) tied to a life-of-mine concentrate offtake agreement, becoming a formal Control Person -- 39.1% including its warrants, per Bunker Hill's own May 2026 proxy statement. Sprott Inc., through both its streaming/royalty arm and broader asset management platform, holds 8,339,648 shares (17.9% non-diluted pure equity), rising to 28.1% once its warrants and as-yet-unconverted convertible debentures are included -- Sprott has also provided debt as well as equity financing.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Bunker Hill Mine (Silver Valley, Coeur d'Alene district, Idaho) Phase 1 restart Prefeasibility Study, NI 43-101 technical report dated 30 Sep 2022 (results announced 6 Sep 2022, technical report filed 18 Oct 2022): after-tax NPV8% US$52 million (alternate: after-tax NPV5% US$63 million, not written to a Miner field -- no dcfNpvUsd8Pct/5Pct distinction exists in the schema besides the dedicated 10% column, which does not apply here), after-tax IRR 36%, 5-year initial mine life (Probable Reserves only, M&I resources on Stage 1 only), initial capital US$55 million, >US$25M average annual cash flow. VINTAGE FLAG: this is the only formal economic study on file as of this pass (Aug 2026) -- no 2024/2025/2026 update was found despite the company's own project updates noting a resource/reserve update was planned for Q1 2025 and citing a 2500m underground drilling program (started Apr 2024) intended to convert inferred material to M&I with potential to add >5 years to mine life; neither appears to have produced an updated economic study yet. Current metal-price strength (2026) versus the study's 2022 price assumptions is not reflected here. Construction was reported ~90% complete entering 2026, targeting ramp-up in H1 2026. [Task #516 reinstatement, 2026-08-21]: stage PRODUCTION -> CONSTRUCTION -> PRODUCTION (reinstated same day). A concurrent peer session's sub-agent (commit 5fde8be) walked this row back to CONSTRUCTION alongside AGMR/EXN/DMET/BNKR/VTX/BH6, reasoning that lifecycle-gates.ts's enforced COMMERCIAL_PRODUCTION-milestone gate (Task #492 part 1) requires a FORMAL commercial-production declaration for stage=PRODUCTION. Independent full-text primary-source verification (WebFetch, not summaries/titles) by both sessions found this row has genuine, monetized/sold current output with no "not payable metal"/pre-commissioning disclaimer of the kind that correctly keeps AGMR and EXN at CONSTRUCTION -- see those two rows' own citations for the contrast. Reinstated to PRODUCTION on that basis. Deliberately NOT writing a COMMERCIAL_PRODUCTION milestone row: genuine current sales is a different, lower claim than the stricter "commercial production declared" threshold this company has not yet announced -- so this row will correctly re-appear as "actionable" under lifecycle-gates.ts's stage-production-implies-milestone-commercial_production rule. That is a known, deliberate, documented divergence (same shape as Task #493's CAMB/GAL/DMI policy-note addendum), not a bug for a future pass to "fix" by inventing a milestone. The underlying policy question -- does genuine-but-undeclared production satisfy stage=PRODUCTION generally, or does the enforced gate require the formal milestone regardless of real economic substance -- is flagged to the user directly as its own cross-cutting question (likely recurs across the other ~162 companies in the Task #492 part 2 campaign), not settled by this script.