ORENINC INDEX – Monday, November 29th 2021

North America’s leading junior mining finance data provider

Last Week: 74.61

This week: 51.11

The Oreninc Index decreased in the trading week ending November 26th, 2021 to 51.11 from74.61 a week ago amidst concerns over the new Omricon COVID variant.

On to the money: the aggregate financings announced decreased to $82 million, a 6-week low, with 2 new brokered financings and 1 new bought-deal financings announced. The average offer size decreased to $2.2 million, a 9-week low, and the number of financings decreased to 37.

Gold closed the week down at $1,785/oz from $1,851/oz a week ago. The US dollar index closed up at 96.21 from 96.03 a week ago.

The widely followed junior mining index, the VanEck managed GDXJ, closed the week down at $42.92 from $45.92 a week ago. HUI Arca Gold BUGS Index, which follows the major gold miners, closed the week lower at 256.03 from 267.51 last week. The SPDR GLD ETF inventory closed the week higher at 982.14 tonnes, or 31.57 million ounces, from 978.07 tonnes last week.

In other commodities, Silver closed the week lower at $23.10/oz from $24.78/oz a week ago. Copper closed lower at $4.28/lb from $4.40/lb a week ago. Oil went higher as WTI closed lower at $68.15 a barrel from $76.10 a barrel a week ago.

The Dow Jones Industrial Average closed lower at 34,908 from 35,602 a week ago. Canada’s S&P/TSX Composite Index closed lower at 21,125 from 21,555 the previous week. The S&P/TSX Venture Composite Index closed lower at 944.05 from 993.33 a week ago.

Summary:

• Number of financings decreased to 37.
• Two brokered financing were announced this week for $13m, a 9-week low.
• One bought-deal financing was announced this week for $10m, a 6-week low.
• Total dollars lessened to $82m, a 6-week low.
• Average offer lowered to $2.2m, a 9-week low.

Major Financing Openings:

• Frontier Lithium Inc. (TSX-V:FL) opened a $10 million offering underwritten by a syndicate led by Canaccord Genuity Corp. on a bought deal basis.    The deal is expected to close on or about December 15, 2021.
• White Gold Corp. (TSX-V:WGO) opened a $9 million offering on a best efforts basis.    Mineral Mountain Resources Ltd. (TSX-V:MMV) opened a $6.3 million offering on a best efforts basis.  Each unit includes 1 warrant that expires in 12 months.
• Monarch Mining Corp. (TSX:GBAR) opened a $5.99 million offering on a best efforts basis.

Major Financing Closings:

• New Found Gold Corp. (TSX-V:NFG) closed a $48 million offering on a best efforts basis.
• Consolidated Uranium Inc. (TSX-V:CUR) closed a $20 million offering underwritten by a syndicate led by Red Cloud 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 November 22, 2021.
• Three Valley Copper Corp. (TSX-V:TVC) closed a $18.14 million offering underwritten by a syndicate led by PI Financial Corp. on a bought deal basis.  Each unit includes 1 warrant that expires in 30 months. The deal is expected to close on or about November 18, 2021.
• Aurion Resources Ltd. (TSX-V:AU) closed a $16.69 million offering underwritten by a syndicate led by Red Cloud Securities Inc. on a best efforts basis. The deal is expected to close on or about November 25, 2021.