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RESOURCE-RECYCLING.COM: Modern Mining raises $40 million in IPO

An initial public offering has raised $40 million for Modern Mining Technology Corp. as the company looks to bring its critical mineral recovery technology to market by the end of next year.

The company sold 9.41 million common shares at $4.25 each to raise the money. The funds will help the company scale its critical mineral recovery technology, President and CEO Jeet Basi said.

READ THE ARTICLE: https://resource-recycling.com/e-scrap/2026/11/12/modern-mining-raises-40-million-in-ipo/
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PRESENTATION

DARRELL CAMPANELLA

General Manager

  • Experienced production operations leader with 25 years’ experience working in the precious metals refining, automotive and chemical  industries, including Metallix.
  • Skilled in operations management, root cause analysis, continuous improvement and ISO standards.
  • Strong quality assurance professional with a Master’s of Science degree focused in chemistry from East Carolina University.

DAVIN GORDON

Procurement Manager

  • Over 16 years of procurement and management experience in the scrap and recycling industries. 
  • Experienced with commodity and precious metals, including procurement in technology, aviation, and military supply chains.
  • A seasoned business executive in dynamic leadership roles.
  • Recently Vice-President of Procurement at Conecsus Aerospace.

AUSTIN THORNBERRY, CPA, CA

Chief Finance Officer

  • Seasoned Chief Financial Officer and finance professional with a background in advising new companies in the venture capital market.

  • Extensive experience with high-growth companies across numerous industries with the Technology & Innovation banking group at the Bank of Montreal.

  • Served as an auditor in the financial services arm of Ernst & Young advising on multiple capital markets transactions.

KULJIT (JEET) BASI

Director

  • Experienced 17-year mining industry professional.
  • Technical leadership experience global public mining companies including Newmont, Goldcorp and Teck Resources.
  • Extensive due-diligence knowledge in M&A
  • Bachelor of Applied Science in Mining and Mineral Process Engineering from the University of British Columbia with a Minor in Commerce.

  • Company CEO & President
  • Corporate technical services and project development – Newmont, Goldcorp, Teck

MICAHEL HEPWORTH

Independent Director

  • Chair, ESG Committee
  • Capital markets
  • Mining Development
  • Past President & CEO Nordic Gold

MATTHEW CHATTERTON

Independent Director

  • Chair, Compensation Committee
  • Chemical Process Engineer, International mining and management experience: Canada, China, Bulgaria, Philippines

SEAN BROMLEY

Independent Director

  • Chair, Audit Committee
  • Capital Markets, Financing

MARK ZORKO

Chairman of the Board

  • Compliance Officer
  • Technology Industry veteran
  • Extensive governance experience (NASDAQ)

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