ORENINC INDEX – Monday, January 31st 2022

North America’s leading junior mining finance data provider

Last Week: 64.48

This week: 47.61

The Oreninc Index decreased in the trading week ending January 28th, 2022 to 47.61 from 64.48 a week ago as the short-term outlook for metals turned negative after the FOMC meeting.

On to the money: the aggregate financings announced decreased to $99 million, a 2-week low, with 4 new brokered financings and 1 new bought-deal financings announced. The average offer size decreased to $4.5 million, a 2-week low, and the number of financings decreased to 22.

Gold closed the week down at $1,831/oz from $1,784/oz a week ago. The US dollar index closed up at 97.27 from 95.17 a week ago.

The widely followed junior mining index, the VanEck managed GDXJ, closed the week down at $37.13 from $40.47 a week ago. HUI Arca Gold BUGS Index, which follows the major gold miners, closed the week lower at 240.19 from 262.51 last week. The SPDR GLD ETF inventory closed the week higher at 1,017.75 tonnes, or 32.72 million ounces, from 976.21 tonnes last week.

In other commodities, Silver closed the week lower at $22.34/oz from $24.35/oz a week ago. Copper closed lower at $4.32/lb from $4.52/lb a week ago. Oil went higher as WTI closed higher at $86.82 a barrel from $85.14 a barrel a week ago.

The Dow Jones Industrial Average closed higher at 34,726 from 34,265 a week ago. Canada’s S&P/TSX Composite Index closed lower at 20,741 from 20,621 the previous week. The S&P/TSX Venture Composite Index closed lower at 838.33 from 856.62 a week ago.

Summary:

• Number of financings decreased to 22.
• Four brokered financing were announced this week for $39m, a 2-week low.
• One bought-deal financing was announced this week for $9m, a 3-week low.
• Total dollars decreased to $99m, a 2-week low.
• Average offer lessened to $4.5m, a 2-week low.

Major Financing Openings:

• Pure Gold Mining Inc. (TSX-V:PGM) opened a $25 million offering underwritten by a syndicate led by National Bank Financial Inc. on a bought deal basis. The deal is expected to close on or about February 15, 2022.
• Thesis Gold Inc. (TSX-V:TAU) opened a $24.5 million offering underwritten by a syndicate led by Clarus Securities Inc. on a best efforts basis. The deal is expected to close on or about February 2, 2022.
• Gowest Gold Ltd. (TSX-V:GWA) opened a $11.5 million offering on a best efforts basis.  Each unit includes 1 warrant that expires in 12 months.
• Ximen Mining Corp. (TSX-V:XIM) opened a $8 million offering on a best efforts basis.

Major Financing Closings:

• Adventus Mining Corp. (TSX-V:ADZN) closed a $33.56 million offering underwritten by a syndicate led by Raymond James Ltd. 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 January 26, 2022.
• Revival Gold Inc. (TSX-V:RVG) closed a $10.08 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 January 25, 2022.
• Alexco Resource Corp. (TSX:AXR) closed a $9.2 million offering underwritten by a syndicate led by xxx on a bought deal basis. The deal is expected to close on or about January 27, 2022.
• Libero Copper & Gold Corp. (TSX-V:V:LBC) closed a $8.3 million offering on a best efforts basis.