ORENINC INDEX – Monday, September 6th 2021

North America’s leading junior mining finance data provider

Last Week: 57.42

This week: 48.68

The Oreninc Index decreased in the trading week ending September 3rd, 2021 to 48.68 from 57.42 a week ago as the sentiment amongst commodities still seems to be negative.

On to the money: the aggregate financings announced decreased to $79 million, a 3-week low, with 2 new brokered financings and no new bought-deal financings announced. The average offer size decreased to $2.8 million, a 3-week low, and the number of financings increased to 28.

Gold closed the week up at $1,833/oz from $1,819/oz a week ago. The US dollar index closed down at 92.04 from 92.69 a week ag

The widely followed junior mining index, the VanEck managed GDXJ, closed the week higher at $43.98 from $43.08 a week ago. HUI Arca Gold BUGS Index, which follows the major gold miners, closed the week higher at 258.13 from 254.54 last week. The SPDR GLD ETF inventory closed the week lower at 998.52 tonnes, or 32.10 million ounces, from 1,011.61 tonnes last week.

In other commodities, Silver closed the week higher at $24.80/oz from $24.14/oz a week ago. Copper closed higher at $4.34/lb from $4.33/lb a week ago. Oil went higher as WTI closed higher at $69.29 a barrel from $68.74 a barrel a week ago.

The Dow Jones Industrial Average closed higher at 35,369 from 35,118 a week ago. Canada’s S&P/TSX Composite Index closed higher at 20,821 from 20,339 the previous week. The S&P/TSX Venture Composite Index closed higher at 923.22 from 864.51 a week ago.

Summary:

• Number of financings increased to 28.
• Two brokered financing were announced this week for $24.5m, a 3-week low.
• No bought-deal financing was announced this week.
• Total dollars lessened to $79m, a 3-week low.
• Average offer lowered to $2.8m, a 3-week low.

Major Financing Openings:

• Altura Energy Inc. (TSX-V:ATU) opened a $25 million offering on a best efforts basis. AdriaticmetalsEach unit includes 1 warrant that expires in 60 months.
• Benz Mining Corp. (TSX-V:BZ) opened a $10 million offering on a best efforts basis. The deal is expected to close on or about August 30, 2021.
• Candelaria Mining Corp. (TSX-V:CXX) opened a $7.8 million offering 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 September 30, 2021.
• Prospect Ridge Resources Corp. (CSE:PRR) opened a $6 million offering on a best efforts basis. Each unit includes a 1/2 warrant that expires in 18 months.

Major Financing Closings:

• Benz Mining Corp. (TSX-V:BZ) closed a $10 million offering on a best efforts basis.    The deal is expected to close on or about August 30, 2021.
• Tempus Resources Ltd. (TSX-V:TMRR) closed a $5.75 million offering on a best efforts basis.    The deal is expected to close on or about August 31, 2021.
• Decklar Resources Inc. (TSX-V:DKL) closed a $4.79 million offering on a best efforts basis.  Each unit includes a 1/2 warrant that expires in 12 months.
• Casa Minerals Inc. (TSX-V:CASA) closed a $2.72 million offering on a best efforts basis.