ORENINC INDEX – Monday, January 4th, 2021
North America’s leading junior mining finance data provider
Last Week: 49.38
This week: 30.90
The Oreninc Index decreased in the week ending December 31st, 2020 to 30.90 from 49.38 a week ago as the year 2020 ended.
The sharp drop in the Oreninc Index of the last two weeks is mainly due to vacation period around Christmas and New Year, which is historically a quiet period. Precious metals started the new year with a bang with gold currently trading at $1,934/oz and Silver at $27.44/oz.
The COVID-19 virus global death toll is approaching 1.84 million with almost 85 million cases reported worldwide. More and more countries are announcing a hard lockdown with increasing cases.
On to the money: the aggregate financings announced decreased to $19 million, an 38-week low, with no new brokered financings and no new bought-deal financings announced. The average offer size decreased to $0.8 million, a 38-week low, while the number of financings decreased to 24.
Gold closed the year lower at $1,895/oz from $1,883/oz a week ago. The US dollar index closed higher at 89.94 from 90.32 a week ago.
The widely followed junior mining index, the VanEck managed GDXJ, closed the week higher at $54.24 from $53.35 a week ago. The index is now up 31.21% YTD. The HUI Arca Gold BUGS Index, which follows the major gold miners, closed the week lower at 299.64 from 301.02 last week. The SPDR GLD ETF inventory closed the week up at 1,170.74 tonnes, or 37.64 million ounces, from 1,167.53 tonnes last week.
In other commodities, Silver closed the week lower at $26.41/oz from $25.91/oz a week ago. Copper closed the week at $3.51/lb from $3.56/lb a week ago. Oil went down as WTI closed up at $48.52 a barrel from $48.23 a barrel a week ago.
The Dow Jones Industrial Average closed up at 30,606 from 30,199 a week ago. Canada’s S&P/TSX Composite Index closed up at 17,433 from 17,623 the previous week. The S&P/TSX Venture Composite Index closed up at 875.36 from 845.78 a week ago.
Major Financing Openings:
Major Financing Closings:
Solaris Resources Inc. (TSX: SLS) (OTCQB: SLSSF) is pleased to re... READ MORE
Mako Mining Corp. (TSX-V: MKO) (OTCQX: MAKOF) is pleased to repo... READ MORE
Labrador Gold Corp. (TSX.V:LAB) (OTCQX:NKOSF) (FNR: 2N6) is pleas... READ MORE
McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) reports consolidated p... READ MORE
IMC International Mining Corp. (CSE:IMCX) (OTCQB:IMIMF) (FRA:3MX)... READ MORE