The Prospector News

Oreninc Index Crashes in Deal-Heavy Week

You have opened a direct link to the current edition PDF

Open PDF Close
Industry Analysts

Share this news article

Oreninc Index Crashes in Deal-Heavy Week

 

 

 

 

 

The Oreninc Index crashed for the week ending June 19, 2014. This is a significant drop in activity in the financing space after last week’s rebound. Total dollars announced dropped to $19.8m, a YTD-low. One brokered deal was announced for $0.5m, a 25-week low; no bought deals were announced. While financing activity was down, there were a number of copper deals in the space, specifically First Quantum’s purchase of Lumina Copper and Aston Bay Holdings’ announced partnership with Antofagasta.

 

 

 

 

Summary:

 

  • Deals announced dropped to 26, a ten-week low.
  • One brokered deal was announced for $0.5m, a 25-week low.
  • No bought deals were announced, a four-week low.
  • Total dollars announced crashed to $19.8m, a YTD-low.
  • Average deal size fell to $0.76m, a 24-week low.

 

 

Major Financing Openings:

 

  • Crocotta Energy Inc. (TSX:CTA) opened a $58.01 million offering underwritten by a syndicate led by National Bank Financial Inc. on a bought deal basis. The deal is expected to close in July 2014.
  • Guyana Goldfields Inc. (TSX:GUY) opened a $44.4 million offering on a best efforts basis.
  • Kirkland Lake Gold Inc. (TSX:KGI) opened a $7 million offering underwritten by a syndicate led by National Bank Financial Inc. on a bought deal basis. The deal is expected to close on or about July 3, 2014.
  • Arsenal Energy Inc. (TSX:AEI) opened a $6.5 million offering underwritten by a syndicate led by Acumen Capital on a bought deal basis. The deal is expected to close on or about July 3, 2014.

 

 

Major Financing Closings:

 

  • Ivanhoe Mines Ltd. (TSX:IVN) closed a $125 million offering on a strategic deal basis.    
  • Americas Petrogas Inc. (TSX-V:BOE) closed a $17.25 million offering underwritten by a syndicate led by Mackie Research Capital Corporation on a best efforts basis. Each unit includes a 1/2 warrant that expires in 36 months.
  • Midway Gold Corp. (TSX-V:MDW) closed a $27.25 million offering underwritten by a syndicate led by RBC Capital Markets on a bought deal basis.    
  • Ascot Resources Ltd. (TSX-V:AOT) closed a $3.5 million offering on a best efforts basis.

 

 

 

Oreninc also publishes the Oreninc Deal Log, a daily list of all financing activity in the TSX, TSX-V and CSE resource sectors. Visit http://oreninc.com to see which companies and sectors to watch. Oreninc also writes custom reports for companies on effective capital raising strategies to help companies maintain long-term shareholder value.

 

Posted June 24, 2014

Share this news article

MORE or "INDUSTRY ANALYSTS"


Mickey Fulp - Mercenary Alert: Is Zinc Still a Four-Letter Word?

Read the Report Here Mercenary Alert: Is Zinc Still a Four-Letter Word? ... READ MORE

June 15, 2017

Top 10 Financings of May 2017

May saw 125 financings close in the Canadian financial markets for C$366.5 million including 64 fina... READ MORE

June 15, 2017

ORENINC INDEX jumps as gold gets political again

ORENINC INDEX – Monday, June 12, 2017 North America’s leading junior mining finance data provide... READ MORE

June 13, 2017

The Week of June 5th to June 11th, 2017 "A Brief Look Back Into Tomorrow"

The new North American trading week began on Monday June 5th with... READ MORE

June 12, 2017

The Week of May 29th to June 4th, 2017 "A Brief Look Back Into Tomorrow"

The new North American trading week began on Monday, May 29th wit... READ MORE

June 6, 2017

Copyright 2020 The Prospector News - Site design by Spyderbaby Productions