January 2018 saw 105 deals close in the Canadian financial markets for an aggregate C$432.8 million at an average of $4.32 million, down 6.1% in total dollar terms over December 2017 when 213 financings closed for $460.8 million at an average of $2.2 million.
January saw nine brokered deals close for an aggregate $162.0 million at an average of $18.0 million. Within this, five bought deals closed for an aggregate of $105.9 million deal at an average $21.2 million.
The top ten deals by size closed in January totalled $241.3 million with graphite, copper and tin leading the field. Gold took three spots of the top ten with cobalt also figuring.
January saw 44 gold deals close for $104.6 million at an average of $2.3 million, down 40.6% in total value terms from the $176.2 million raised in 101 gold deals in December at an average of $1.7 million. The top ten gold deals in January totalled $84.6 million, some 80.9% of the total.
In base metals, the top ten deals in January totalled $121.9 million with the majority being raises for copper.
In the battery metals space, the top ten deals in January totalled $97.6 million with four cobalt deals, three lithium, two graphite and one nickel deal.
#1 Mason Graphite $45.0 million
Mason Graphite (TSXV:LLG) closed a $45 million offering underwritten by a syndicate led by National Bank Financial on a bought deal basis via the issuance of 18.75 million shares @ C$2.40. The net proceeds will be used for development and construction expenses related to the Lac Guéret graphite mine and Baie-Comeau, Québec concentrator plant project.
#2 Excelsior Mining $38.6 million
Excelsior Mining (TSX:MIN) closed an oversubscribed non-brokered private placement in two tranches through the issuance of 38.6 million shares @ 1.00 for $38.6 million. The net proceeds will be used for the development, construction and maintenance of its Gunnison copper project in Arizona, USA.
#3 Alphamin Resources $28.5 million
Alphamin Resources (TSXV:AFM) closed a private placement of 89.1 million@ $.032 for gross proceeds of $28.5 million. It also closed a non-brokered private placement of 85.9 million units for gross proceeds of $27.5 million. Each unit comprises one share and half a warrant exercisable @ $0.40 for three years. The net proceeds will be applied towards the equity requirement for the continued development of its Bisie tin project in Democratic Republic of Congo.
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