ORENINC INDEX – Monday, February 14th 2022

North America’s leading junior mining finance data provider

Last Week: 50.95 (Updated)

This week: 75.86

The Oreninc Index increased in the trading week ending February 11th, 2022 to 75.86 from 50.95 a week ago as precious metals precious metals break out.

On to the money: the aggregate financings announced increased to $159 million, a 13-week high, with 14 new brokered financings and 7 new bought-deal financings announced. The average offer size increased to $4.8 million, a 3-week high, and the number of financings increased to 33.

Gold closed the week higher at $1,842/oz from $1,807/oz a week ago. The US dollar index closed down at 96.08 from 97.27 a week ago.

The widely followed junior mining index, the VanEck managed GDXJ, closed the week up at $41.42 from $38.18 a week ago. HUI Arca Gold BUGS Index, which follows the major gold miners, closed the week higher at 265.40 from 246.28 last week. The SPDR GLD ETF inventory closed the week higher at 1,019.44 tonnes, or 32.76 million ounces, from 1017.75 tonnes last week.

In other commodities, Silver closed the week higher at $23.42/oz from $22.51/oz a week ago. Copper closed lower at $4.43/lb from $4.50/lb a week ago. Oil went higher as WTI closed higher at $93.10 a barrel from $92.31 a barrel a week ago.

The Dow Jones Industrial Average closed lower at 34,737 from 35,089 a week ago. Canada’s S&P/TSX Composite Index closed higher at 21,548 from 21,271 the previous week. The S&P/TSX Venture Composite Index closed higher at 868.77 from 854.47 a week ago.

Summary:

• Number of financings increased to 33.
• Fourteen brokered financing were announced this week for $109m, a 13-week high.
• Seven bought-deal financing were announced this week for $95.6m, a 3-week high.
• Total dollars increased to $159m, a 13-week high.
• Average offer upped to $4.8m, a 3-week high.

Major Financing Openings:

• Osisko Development Corp. (TSX-V:ODV) opened a $40.05 million offering underwritten by a syndicate led by Eight Capital on a bought deal basis.  Each unit includes 1 warrant that expires in 60 months. The deal is expected to close on or about March 2, 2022.
• Reconnaissance Energy Africa Ltd. (TSX-V:RECO) opened a $38.1 million offering underwritten by a syndicate led by Canaccord Genuity Corp. on a bought deal basis.  Each unit includes 1 warrant that expires in 8 months. The deal is expected to close on or about March 1, 2022.
• Talisker Resources Ltd. (CSE:TSK) opened a $12.5 million offering underwritten by a syndicate led by Sprott Capital Partners LP on a bought deal basis.    The deal is expected to close on or about March 2, 2022.
• Noram Lithium Corp. (TSX-V:NRM) opened a $11.29 million offering  on a best efforts basis. The deal is expected to close on or about February 25, 2022.

Major Financing Closings:

• Cypress Development Corp. (TSX-V:CYP) 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 24 months. The deal is expected to close on or about March 2, 2022.
• Summa Silver Corp. (CSE:SSVR) closed a $11.5 million offering underwritten by a syndicate led by Research Capital Corp. 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 February 10, 2022.
• Euro Manganese Inc. (TSX-V:EMN) closed a $8.5 million offering on a strategic deal basis.
• Harfang Exploration Inc. (TSX-V:HAR) closed a $4.25 million offering on a best efforts basis. The deal is expected to close on or about January 31, 2022.