ORENINC INDEX – Monday, December 28th 2020
North America’s leading junior mining finance data provider
Last Week: 96.44
This week: 49.38
The Oreninc Index decreased in the week ending December 25th, 2020 to 49.38 from 96.44 a week as no new deals were announced.
It was a calm and short trading week with most of the exchanges closing early on December 24th.
The COVID-19 virus global death toll is approaching 1.76 million with almost 81 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 $55 million, an 11-week low, with no new brokered financings and no new bought-deal financings announced. The average offer size decreased to $1.2 million, a 37-week low, while the number of financings decreased to 45.
Gold jumped above the $1,900 level for a brief moment after the stimulus bill was signed by President Trump, but is now back trading around $1,880. The yellow metal closed the week lower at $1,883/oz from $1,888/oz a week ago. The US dollar index closed higher at 90.32 from 90.02 a week ago.
The widely followed junior mining index, the VanEck managed GDXJ, closed the week higher at $53.35 from $54.52 a week ago. The index is now up 27.09%. The HUI Arca Gold BUGS Index, which follows the major gold miners, closed the week lower at 301.02 from 303.38 last week. The SPDR GLD ETF inventory closed the week almost flat at 1,167.53 tonnes, or 37.54 million ounces, from 1,167.82 tonnes last week.
In other commodities, Silver closed the week lower at $25.91/oz from $26.03/oz a week ago. Copper seems to consolidate and closed the week at $3.56/lb from $3.63/lb a week ago. Oil went down as WTI closed up at $48.23 a barrel from $49.10 a barrel a week ago.
The Dow Jones Industrial Average closed up at 30,199 from 30,179 a week ago. Canada’s S&P/TSX Composite Index closed up at 17,623 from 17,534 the previous week. The S&P/TSX Venture Composite Index closed up at 845.78 from 816.20 a week ago.
Major Financing Openings:
Major Financing Closings
Appia Rare Earths & Uranium Corp. (CSE:API) (OTCQX:APAAF) (Ge... READ MORE
K92 Mining Inc. (TSX: KNT) is pleased to announce that, further t... READ MORE
This news release constitutes a “designated news release” for... READ MORE
Vizsla Silver Corp. (TSX-V: VZLA) (NYSE: VZLA) (Frankfurt: 0G3) i... READ MORE
Brixton Metals Corporation (TSX-V: BBB) (OTCQB: BBBXF) is pleased... READ MORE
We acknowledge the [financial] support of the Government of Canada.