ORENINC INDEX – Monday, March 1st, 2021
North America’s leading junior mining finance data provider
Last Week: 93.72
This week: 117.52
The Oreninc Index increased in the trading week ending February 26th, 2021 to 117.52 from 93.72 a week ago as the index moved back to healthy levels amidst the precious metals pullback.
On to the money: the aggregate financings announced increased to $336.8 million, a 5-week high, with 11 new brokered financings and 6 new bought-deal financings announced. The average offer size increased to $6.5 million, a 2-week high, and the number of financings increased to 52.
Gold closed the week lower at $1,728/oz from $1,777/oz a week ago. The US dollar index closed higher at 90.88 from 90.36 a week ago.
The widely followed junior mining index, the VanEck managed GDXJ, closed the week down at $45.76 from $47.54 a week ago. HUI Arca Gold BUGS Index, which follows the major gold miners, closed the week lower at 250.16 from 263.56 last week. The SPDR GLD ETF inventory closed the week down at 1,093.54 tonnes, or 35.15 million ounces, from 1,127.64 tonnes last week.
In other commodities, Silver closed the week lower at $26.44/oz from $27.25/oz a week ago. Copper closed the week at $4.09/lb from $4.07/lb a week ago. Oil went higher as WTI closed down at $61.50 a barrel from $59.24 a barrel a week ago.
The Dow Jones Industrial Average closed up at 30,932 from 31,494 a week ago. Canada’s S&P/TSX Composite Index closed down at 18,060 from 18,384 the previous week. The S&P/TSX Venture Composite Index closed up at 1098.56 from 1067.44 a week ago.
Major Financing Openings:
Major Financing Closings:
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