ORENINC INDEX – Monday, July 19th 2021

North America’s leading junior mining finance data provider

Last Week: 61.34

This week: 41.08

The Oreninc Index decreased in the trading week ending July 16th, 2021 to 41.08 from 61.34 a week ago as metals continue to show weakness.

On to the money: the aggregate financings announced decreased to $54 million, a 28-week low, with 6 new brokered financings and no new bought-deal financings announced. The average offer size increased to $1.75 million, a 28-week low, and the number of financings increased to 31.

Gold closed the week slightly lower at $1,809/oz from $1,810/oz a week ago. The US dollar index closed higher at 92.89 from 92.13 a week ago.

The widely followed junior mining index, the VanEck managed GDXJ, closed the week down at $43.38 from $46.62 a week ago. HUI Arca Gold BUGS Index, which follows the major gold miners, closed the week lower at 259.46 from 268.95 last week. The SPDR GLD ETF inventory closed the week lower at 1,028.55 tonnes, or 33.06 million ounces, from 1,040.19 tonnes last week.

In other commodities, Silver closed the week lower at $25.14/oz from $26.23/oz a week ago. Copper closed lower at $4.21/lb from $4.35/lb a week ago. Oil went higher as WTI closed lower at $66.42 a barrel from $74.65 a barrel a week ago.

The Dow Jones Industrial Average closed higher at 33,936 from 34,870 a week ago. Canada’s S&P/TSX Composite Index closed lower at 19,726 from 20,257 the previous week. The S&P/TSX Venture Composite Index closed lower at 870.91 from 938.47 a week ago.

Summary:

• Number of financings increased to 31.
• Six brokered financings were announced this week for $8m, a 28-week low.
• No bought-deal financing was announced this week.
• Total dollars lessened to $54m, a 28-week low.
• Average offer decreased to $1.75m, a 28-week low.

Major Financing Openings:

• Troilus Gold Corp. (TSX-V:TLG) opened a $11.15 million offering on a best efforts basis.  Each unit includes 1 warrant that expires in 24 months.
• Arena Minerals Inc. (TSX-V:AN) opened a $10 million offering on a best efforts basis.
• White Gold Corp. (TSX-V:WGO) opened a $4 million offering underwritten by a syndicate led by Clarus Securities Inc. on a best efforts basis. The deal is expected to close on or about July 29, 2021.
• Standard Uranium Ltd. (TSX-V:STND) opened a $4 million offering underwritten by a syndicate led by Red Cloud Securities Inc. on a best efforts basis.  Each unit includes a 1/2 warrant that expires in 36 months. The deal is expected to close on or about August 8, 2021.

Major Financing Closings:

• Orla Mining Ltd. (TSX-V:OLA) closed a $43.16 million offering on a best efforts basis.    The deal is expected to close on or about July 14, 2021.
• Lucara Diamond Corp. (TSX-V:LUC) closed a $41.36 million offering on a best efforts basis.    The deal is expected to close on or about July 15, 2021.
• Emerita Resources Corp. (TSX-V:EMO) closed a $20 million offering underwritten by a syndicate led by Clarus Securities Inc. on a bought deal basis.  Each unit includes a 1/2 warrant that expires in 24 months. The deal is expected to close on or about July 15, 2021.
• Japan Gold Corp. (TSX-V:JG) closed a $17 million offering on a best efforts basis.