1. Investment Snapshot
2. Thesis
3. Valuation & Price Target
4. Business & Product Moat
5. People & Governance
6. Market & Macro
7. Financial Quality
8. Risk Register
9. Prediction Market
10. 𝕏 Posts
Discussion
1. Investment Snapshot
2. Thesis
3. Valuation & Price Target
4. Business & Product Moat
5. People & Governance
6. Market & Macro
7. Financial Quality
8. Risk Register
9. Prediction Market
10. 𝕏 Posts
Discussion
1. Investment Snapshot
2. Valuation
Discussion
Symbol
SIND
Event Date
2026-06-26
Sector
Materials
Subsector
Metals & Mining
Offer Range
$12.00
Shares Offered
17.75M
Shares Outstanding Pre-IPO
158.79M
158.79M
$1.9B
11.2%
Implied Upside vs Midpoint
Description
We hold title to, or have exploration and exploitation rights on, five contiguous mining concessions covering a large-scale, high-grade, silver-gold greenfield discovery located in the historic Guanajuato epithermal silver belt of Mexico (the “Sinda Property” or the “Project”). The Sinda Property is a large primary silver asset that we believe has the potential to be a globally significant mining operation. The Sinda Property is located approximately 22 miles (35 kilometers) from the colonial city of San Miguel de Allende in the Mexican state of Guanajuato, approximately 180 miles (290 kilometers) northwest of Mexico City and 28 miles (45 kilometers) southeast of the Guanajuato Mining District, in close proximity to several of the world’s largest and historically most productive silver deposits and mines. The location of the Sinda Property provides access to existing regional infrastructure and an established labor force to support current and future exploration and mining activities. Mexico is the world’s top silver mining jurisdiction, accounting for approximately 20% of all global mined silver production in 2025. Recent policy shifts in Mexico have reignited investment and exploration, and we expect that this will provide a positive backdrop for our exploration and development plans. Large primary silver assets such as the Sinda Property are rare, with only approximately 26% of global mined silver supply coming from primary silver mines in 2025. Additionally, the universe of primary silver companies is small, creating a scarcity of options for investors seeking silver exposure, which has been exacerbated by recent consolidation among public silver mining companies. --- We were incorporated as an exempted company in the Cayman Islands in November 2012 under the name “Minera Adularia International Ltd.” On March 1, 2023, we changed our name to Sinda Ltd. On June 23, 2026, we de-registered in the Cayman Islands and registered by way of continuation in the State of Delaware by filing a Certificate of Domestication to incorporate in the State of Delaware under the name “Sinda Ltd.” Our principal executive office is located at Antiguo Camino a Don Diego S/N, Fraccionamiento Mi Bendición, Interior 6, San Miguel de Allende, Guanajuato, Mexico 37898. Our telephone number is +52 (415) 688-7951.