ORENINC INDEX – Monday, August 3rd 2021

North America’s leading junior mining finance data provider

Last Week: 46.81

This week: 32.52

The Oreninc Index decreased in the trading week ending July 30th, 2021 to 32.52 from 46.81 a week ago as financings ebb amidst a weak metals sentiment.

On to the money: the aggregate financings announced increased to $31.3 million, a 30-week low, with 2 new brokered financings and 2 new bought-deal financings announced. The average offer size increased to $2.2 million, a 2-week low, and the number of financings decreased to 14.

Gold closed the week up at $1,817/oz from $1,801/oz a week ago. The US dollar index closed down at 92.17 from 92.89 a week ago.

The widely followed junior mining index, the VanEck managed GDXJ, closed the week higher at $45.83 from $43.63 a week ago. HUI Arca Gold BUGS Index, which follows the major gold miners, closed the week higher at 273.72 from 258.93 last week. The SPDR GLD ETF inventory closed the week higher at 1,029.71 tonnes, or 33.10 million ounces, from 1,027.38 tonnes last week.

In other commodities, Silver closed the week higher at $25.54/oz from $25.23/oz a week ago. Copper closed higher at $4.47/lb from $4.40/lb a week ago. Oil went higher as WTI closed higher at $73.95 a barrel from $72.07 a barrel a week ago.

The Dow Jones Industrial Average closed lower at 34,936 from 35,061 a week ago. Canada’s S&P/TSX Composite Index closed higher at 20,287 from 20,188 the previous week. The S&P/TSX Venture Composite Index closed higher at 925.63 from 902.56 a week ago.

Summary:

• Number of financings decreased to 14.
• Two brokered financings were announced this week for $15m, a 2-week low.
• Two bought-deal financing were announced this week for $15m, a 1-week high.
• Total dollars lessened to $31.3m, a 30-week low.
• Average offer decreased to $2.2m, a 2-week low.

Major Financing Openings:

• Falco Resources Ltd. (TSX-V:FPC) opened a $10 million offering underwritten by a syndicate led by CIBC Capital Markets on a bought deal The deal is expected to close on or about August 18, 2021.
• Canada Carbon Inc. (TSX-V:CCB) opened a $5 million offering on a best efforts Each unit includes 1 warrant that expires in 24 months.
• Allegiant Gold Ltd. (TSX-V:AUAU) opened a $5 million offering underwritten by a syndicate led by Cormark Securities Inc. on a bought deal Each unit includes a 1/2 warrant that expires in 24 months. The deal is expected to close on or about August 17, 2021.
• Rathdowney Resources Ltd. (TSX-V:RTH) opened a $2 million offering on a best efforts Each unit includes 1 warrant that expires in 60 months.

Major Financing Closings:

• Nouveau Monde Graphite Inc. (TSX-V:NOU) closed a $3 million offering on a best efforts basis.
• Canada Nickel Company Inc. (TSX-V:CNC) closed a $22 million offering underwritten by a syndicate led by Cantor Fitzgerald Canada Corp. on a bought deal basis.   The deal is expected to close on or about July 27, 2021.
• Western Copper and Gold Corporation (TSX-V:WRN) closed a $01 million offering underwritten by a syndicate led by RBC Capital Markets on a best efforts basis.   The deal is expected to close on or about July 26, 2021.
• E2gold Inc. (TSX-V:ETU) closed a $62 million offering on a best efforts basis. The deal is expected to close on or about July 15, 2021.