ORENINC INDEX – Monday, October 9th, 2023

North America’s leading junior mining finance data provider

Last Week: 67.43

This week: 24.91

The Oreninc Index decreased in the trading week ending October 6th, 2023, to 24.91 from 67.43 a week ago as negative market sentiments continues.

On to the money: the aggregate financings announced decreased to $26 million, a 5-week low, with no new brokered financings and no bought-deal financings announced. The average offer size decreased to $1.4 million, a 39-week low, and the number of financings increased to 23.

Gold closed the week lower at $1,845/oz from $1,864/oz a week ago. The US dollar index closed lower at 106.04 from 106.15 a week ago.

The widely followed junior mining index, the VanEck managed GDXJ, closed the week lower at $31.83 from $34.15 a week ago. HUI Arca Gold BUGS Index, which follows the major gold miners, closed the week lower at 205.95 from 207.24 last week.

In other commodities, Silver closed the week lower at $21.72/oz from $22.39/oz a week ago. Copper closed lower at $3.62/lb from $3.73/lb a week ago. Oil went lower as WTI closed lower at $82.79 a barrel from $90.81 a barrel a week ago.

The Dow Jones Industrial Average closed lower at 33,407 from 33,507 a week ago. Canada’s S&P/TSX Composite Index closed lower at 19,246 from 19,541 the previous week. The S&P/TSX Venture Composite Index closed lower at 533.54 from 558.88 a week ago.

Major Financing Openings:

• Arbor Metals Corp. (TSX-V:ABR) opened a $5 million offering on a best efforts basis. Each unit includes 1 warrant that expires in 12 months.
• Troy Minerals Inc. (CSE:TROY) opened a $4 million offering on a best efforts basis. The deal is expected to close on or about October 11, 2023.
• Highlander Silver Corp. (CSE:HSLV) opened a $3 million offering on a best efforts basis. Each unit includes 1 warrant that expires in 36 months. The deal is expected to close onor about October 20, 2023.
• TDG Gold Corp. (TSX-V:TDG) opened a $2.75 million offering on a best efforts basis.

Major Financing Closings:

• New Pacific Metals Corp. (TSX-V:NUAG) closed a $35 million offering on a bought deal basis. The deal is expected to close on or about September 29, 2023.
• Lavras Gold Corp. (TSX-V:LGC) closed a $13.7 million offering on a best efforts basis.
• Bear Creek Mining Corporation (TSX-V:BCM) closed a $9.5 million offering underwritten by a syndicate led by BMO Capital Markets on a bought deal basis. Each unit includes 1 warrant that expires in 60 months. The deal is expected to close on or about October 5, 2023.
• Fission Uranium Corp. (TSX-V:FCU) closed a $9.2 million offering underwritten by a syndicate led by Canaccord Genuity Corp. on a bought deal basis. The deal is expected to close on or about October 4, 2023.