The Oreninc Index crept up to a two-week high for the week ending June 4, 2015. Total dollars exploded to $141m, a three-week high. Three brokered financings were announced for $20m, a two-week high; and two bought deal financings were announced for $5m, also a two-week high.
The main deal-making news from the week was Premier Gold Mines Limited’s (TSX:PG) completion of their acquisition of 40% of Goldcorp’s (NYSE:GG) South Arturo Mine Project for US$20m and other considerations. Gold had a rough week after positive employment data out of the United States. Iron ore, on the other hand, reached a three-month high in what has been a surprisingly good couple months for the ferrous metal.
While numbers are still not where the industry as a whole would like them to be, both from a financing and commodity price perspective, this spring has given us some hope that there may be some light at the end of the tunnel. That said, it is hard to be too confidant as the warm months approach and activity is bound to, as is has in the past, slow down during July and August.
Major Financing Openings:
Major Financing Closings:
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.
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