ORENINC INDEX – Monday, August 16th 2021

North America’s leading junior mining finance data provider

Last Week: 19.28

This week: 18.49

The Oreninc Index decreased in the trading week ending August 13th, 2021 to 18.49 from 19.28 a week ago with the average deal size marking a 70-week low.

On to the money: the aggregate financings announced increased to $13.7 million, a 70-week low, with 1 new brokered financings and no new bought-deal financings announced. The average offer size decreased to $1.7 million, a 32-week low, and the number of financings remained at 8.

Gold closed the week up at $1,778/oz from $1,762/oz a week ago. The US dollar index closed up at 92.52 from 92.80 a week ago.

The widely followed junior mining index, the VanEck managed GDXJ, closed the week lower at $42.85 from $43.60 a week ago. HUI Arca Gold BUGS Index, which follows the major gold miners, closed the week lower at 254.96 from 259.69 last week. The SPDR GLD ETF inventory closed the week higher at 1,021.79 tonnes, or 32.85 million ounces, from 1,025.29 tonnes last week.

In other commodities, Silver closed the week lower at $23.77/oz from $24.32/oz a week ago. Copper closed higher at $4.35/lb from $4.33/lb a week ago. Oil went higher as WTI closed higher at $68.44 a barrel from $68.28 a barrel a week ago.

The Dow Jones Industrial Average closed higher at 35,501 from 35,075 a week ago. Canada’s S&P/TSX Composite Index closed higher at 20,518 from 20,475 the previous week. The S&P/TSX Venture Composite Index closed lower at 923.06 from 925.65 a week ago.

Summary:

• Number of financings remained as 8.
• One brokered financing was announced this week for $4m, same as last week.
• No bought-deal financing was announced this week.
• Total dollars decreased to $13.7m, a 70-week low.
• Average offer lessened to $1.7m, a 32-week low.

Major Financing Openings:

• International Cobalt Corp. (CSE:CO) opened a $4 million offering underwritten by a syndicate led by GMC on a best efforts
• Stelmine Canada Ltd. (TSX-V:STH) opened a $25 million offering on a best efforts basis. Each unit includes a 1/2 warrant that expires in 36 months.
• Usha Resources Ltd. (TSX-V:USHA.P) opened a $3 million offering on a best efforts Each unit includes a 1/2 warrant that expires in 24 months.
• Western Magnesium Corp. (TSX-V:WMG) opened a $07 million offering on a best efforts basis. Each unit includes 1 warrant that expires in 18 months.

Major Financing Closings:

• Foran Mining Corp. (TSX-V:FOM) closed a $100 million offering on a best efforts Each unit includes 1 warrant that expires in 60 months.
• Rio2 Ltd. (TSX-V:RIO) closed a $14 million offering underwritten by a syndicate led by Scotiabank on a best efforts basis.   The deal is expected to close on or about August 6, 2021.
• Banyan Gold Corp. (TSX-V:BYN) closed a $16 million offering on a best efforts
• Norzinc Ltd. (TSX:NZC) closed a $18 million offering underwritten by a syndicate led by Paradigm Capital Inc. on a best efforts basis. The deal is expected to close on or about August 4, 2021