ORENINC INDEX – Monday, July 18th, 2022

North America’s leading junior mining finance data provider

Last Week: 23.06

This week: 8.87

The Oreninc Index decreased in the trading week ending July 15th, 2022 to 8.87 from 23.06 a week ago as financing come to a halt amidst negative sentiment.

On to the money: the aggregate financings announced decreased to $10.5 million, a 118-week low, with no new brokered financings and no new bought-deal financings announced. The average offer size increased to $1.3 million, a 28-week low, and the number of financings increased to 8.

Gold closed the week lower at $1,703/oz from $1,742/oz a week ago. The US dollar index closed higher at 107.98 from 106.89 a week ago.

The widely followed junior mining index, the VanEck managed GDXJ, closed the week down at $30.04 from $31.21 a week ago. HUI Arca Gold BUGS Index, which follows the major gold miners, closed the week lower at 203.56 from 216.78 last week. The SPDR GLD ETF inventory closed the week higher at 1,009.06 tonnes, or 32.42 million ounces, from 1018.49 tonnes last week.

In other commodities, Silver closed the week lower at $18.63/oz from $19.23/oz a week ago. Copper closed lower at $3.24/lb from $3.53/lb a week ago. Oil went higher as WTI closed lower at $99.42 a barrel from $104.79 a barrel a week ago.

The Dow Jones Industrial Average closed lower at 31,286 from 31,339 a week ago. Canada’s S&P/TSX Composite Index closed lower at 18,394from 19,022 the previous week. The S&P/TSX Venture Composite Index closed lower at 584.43 from 615.38 a week ago.

Summary:

• Number of financings decreased to 8.
• No brokered financing was announced this week.
• No bought-deal financing was announced this week.
• Total dollars lessened to $10.5m, a 118-week low.
• Average offer fell to $1.3m, a 28-week low.

Major Financing Openings:

• Libero Copper & Gold Corp. (TSX-V:V:LBC)opened a $3 million offering on a best efforts basis.    The deal is expected to close on or about July 21, 2022.
• Tinone Resources Inc. (TSX-V:TORC)opened a $2 million offering on a best efforts basis.  Each unit includes a 1/2 warrant that expires in 24 months.
• U3O8 Corp. (TSX-V:UWE.H)opened a $2 million offering on a best efforts basis.  Each unit includes 1 warrant that expires in 36 months.The deal is expected to close on or about July 29, 2022.
• Big Ridge Gold Corp. (TSX-V:BRAU)opened a $2 million offering on a best efforts basis.  Each unit includes a 1/2 warrant that expires in 24 months. The deal is expected to close on or about July 22, 2022.

Major Financing Closings:

• Reunion Gold Corporation (TSX-V:RGD)closed a $36.83 million offering underwritten by a syndicate led by Sprott Capital Partners on a bought deal basis.  Each unit includes a 1/2 warrant that expires in 24 months. The deal is expected to close on or about July 6, 2022.
• Irving Resources Inc. (CSE:IRV)closed a $8.61 million offering on a best efforts basis.  Each unit includes a 1/2 warrant that expires in 36 months.
• Newcore Gold Ltd. (TSX-V:NCAU)closed a $5.01 million offering underwritten by a syndicate led by Stifel GMP on a bought deal basis. The deal is expected to close on or about July 12, 2022.
• Rockhaven Resources Ltd. (TSX-V:RK)closed a $4.91 million offering on a best efforts basis.