ORENINC INDEX – Monday, May 15th, 2023
North America’s leading junior mining finance data provider
Last Week: 74.87
This week: 72.95
The Oreninc Index decreased in the trading week ending May 12th, 2023, to 72.95 from 74.95 a week ago as the number of deals decreased.
On to the money: the aggregate financings announced decreased to $98 million, a 6-week low, with four new brokered financings and one new bought-deal financing announced. The average offer size increased to $2.4 million, a 2-week high, and the number of financings decreased to 41.
Gold closed the week lower at $2,019/oz from $2,024/oz a week ago. The US dollar index closed higher at 102.71 from 101.21 a week ago.
The widely followed junior mining index, the VanEck managed GDXJ, closed the week lower at $39.97 from $41.81 a week ago. HUI Arca Gold BUGS Index, which follows the major gold miners, closed the week lower at 266.88 from 278.24 last week. The SPDR GLD ETF inventory closed the week higher at 920.72 tonnes or 30.40 million ounces.
In other commodities, Silver closed the week lower at $24.15/oz from $25.93/oz a week ago. Copper closed lower at $3.72/lb from $3.88/lb a week ago. Oil went lower as WTI closed lower at $70.04 a barrel from $71.34 a barrel a week ago.
The Dow Jones Industrial Average closed lower at 33,300 from 33,367 a week ago. Canada’s S&P/TSX Composite Index closed lower at 20,419 from 20,542 the previous week. The S&P/TSX Venture Composite Index closed higher at 617.84 from 615.40 a week ago.
Major Financing Openings:
Major Financing Closings:
Adventus Mining Corporation (TSX-V: ADZN) (OTCQX: ADVZF) and Salazar Res... READ MORE
Madison Metals Inc. (CSE: GREN) (OTCQB: MMTLF) is pleased to anno... READ MORE
Class 1 Nickel and Technologies Ltd. (CSE: NICO) (OTCQB: NICLF) i... READ MORE
Avalon Advanced Materials Inc. (TSX: AVL) (OTCQX: AVLNF) is pleas... READ MORE
Vizsla Copper Corp. (TSX-V: VCU) (OTCQB: VCUFF) (FSE: 97E0) is pl... READ MORE