ORENINC INDEX – Monday, January 25th 2021
North America’s leading junior mining finance data provider
Last Week: 70.38
This week: 104.30
The Oreninc Index increased in the week ending January 22nd, 2021 to 104.30 from 70.38 a week ago as financings rocket.
The COVID-19 virus global death toll surpassed 2.1 million with almost 100 million cases reported worldwide. More and more countries are announcing an extension of the hard lockdown often accompanied by a curfew.
On to the money: the aggregate financings announced increased to $281 million, a 23-week high, with 14 new brokered financings and 13 new bought-deal financings announced. The average offer size increased to $7 million, a 123-week high, and the number of financings increased to 40.
Gold closed the week higher at $1,856/oz from $1,829/oz a week ago. The US dollar index closed lower at 90.24 from 90.88 a week ago.
The widely followed junior mining index, the VanEck managed GDXJ, closed the week up at $50.34 from $49.35 a week ago. HUI Arca Gold BUGS Index, which follows the major gold miners, closed the week higher at 288.84 from 284.53 last week. The SPDR GLD ETF inventory closed the week down at 1,173.25 tonnes, or 37.72 million ounces, from 1,177.63 tonnes last week.
In other commodities, Silver closed the week higher at $25.55/oz from $24.98/oz a week ago. Copper closed the week at $3.62/lb from $3.673/lb a week ago. Oil went down as WTI closed down at $52.27 a barrel from $52.48 a barrel a week ago.
The Dow Jones Industrial Average closed up at 30,996 from 30,814 a week ago. Canada’s S&P/TSX Composite Index closed down at 17,845 from 17,909 the previous week. The S&P/TSX Venture Composite Index closed up at 947.43 from 908.00 a week ago.
Major Financing Openings:
Major Financing Closings:
Kirkland Lake Gold Ltd. (TSX:KL) (NYSE:KL) (ASX:KLA) announced pr... READ MORE
Ascot Resources Ltd. (TSX: AOT) (OTCQX: AOTVF) is pleased to ann... READ MORE
Rio Tinto has entered into a binding Heads of Agreement with Turq... READ MORE
Frontier Lithium Inc. (TSX-V: FL) (OTCQX: LITOF) (FSE: HL2) annou... READ MORE
Uranium Energy Corp (NYSE: UEC) is pleased to announce the closin... READ MORE